Pebblebrook Hotel Trust (PEB) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 26, 2016.
Many Wall Street Analysts have commented on Pebblebrook Hotel Trust. Pebblebrook Hotel Trust was Downgraded by Credit Suisse to ” Neutral” on Jul 21, 2016. Shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Outperform” and Lowered the Price Target to $ 33 from a previous price target of $34 .
On the company’s financial health, Pebblebrook Hotel Trust reported $0.81 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $0.76. The company had revenue of $212.27 million for the quarter, compared to analysts expectations of $210.59 million. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.
Pebblebrook Hotel Trust opened for trading at $29.61 and hit $30.12 on the upside on Wednesday, eventually ending the session at $29.97, with a gain of 0.57% or 0.17 points. The heightened volatility saw the trading volume jump to 15,03,173 shares. Company has a market cap of $2,160 M.
In a different news, on Jun 15, 2016, Raymond D Martz (Exec VP, CFO, Treasurer, Secre) sold 15,848 shares at $25.26 per share price. According to the SEC, on Mar 3, 2015, Thomas Charles Fisher (EVP, Chief Investment Officer) sold 30,000 shares at $48.64 per share price. On Feb 24, 2015, Ron E. Jackson (director) purchased 1,167 shares at $48.45 per share price, according to the Form-4 filing with the securities and exchange commission.
Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is engaged in acquiring and investing in hotel properties located primarily in cities of the United States. It owns interests in around 35 hotels including 29 wholly owned hotels with a total of 6948 guest rooms and a 49% joint venture interest in six hotels with a total of 1775 guest rooms. The hotels are located in markets including Atlanta (Buckhead) Georgia; Bethesda Maryland; Boston Massachusetts; Hollywood California; Los Angeles California; Miami Florida; Minneapolis Minnesota; Nashville Tennessee; New York New York; Philadelphia Pennsylvania; Portland Oregon; San Diego California; San Francisco California; Santa Monica California; Seattle Washington; Stevenson Washington; Washington D.C. and Westwood California among others. The Companys assets are held by and the operations are conducted through Pebblebrook Hotel L.P.