Growing Through Challenges? – Pebblebrook Hotel Trust (PEB)

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    BlackRock Fund Advisors recently announced the acquisition of new stake in Pebblebrook Hotel Trust (NYSE:PEB). The institutional investor has increased its shareholding in the Real Estate company by 0.14% to 16.05 million shares with purchase of 21731.0 shares. This fresh investment now brings its stake to 12.27% valued currently at $219.18 million. In addition, HG Vora Capital Management LLC raised its holdings by 6.7 million to 9.5 million shares. And Long Pond Capital LP has lifted its position by 322.33% or 6.8 million shares – to 8.91 million shares.

    With over 1.32 million Pebblebrook Hotel Trust (PEB) shares trading Wednesday and a closing price of $10.74 on the day, the dollar volume was approximately $14.12 million. The shares have shown a negative weekly performance of -1.79% and its price on 07/28/20 gained nearly 2.78%. Currently, there are 130.56M common shares owned by the public and among those 129.15M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for PEB have a consensus price objective of $12.69. The analysts have set the share’s price value over the next 12 months at a high of $17.00 and a low of $8.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Pebblebrook Hotel Trust stock is 3.10 for the next 12 months. The average price target is 23.72% above its last price level and an upside to the estimated low will see the stock lose -26.35% over that period. But an upside of 36.82% will see the stock hit the forecast high price target while mean target price for the stock is $12.50.

    Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 243,246 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 38,710 shares.

    The top 3 mutual fund holders in Pebblebrook Hotel Trust are Vanguard Real Estate Index Fund, Vanguard Total Stock Market Index, and iShares Core S&P Mid Cap ETF. Vanguard Real Estate Index Fund owns 5.86 million shares of the company’s stock, all valued at over $80.07 million. The company bought an additional 30765.0 shares recently to bring their total holdings to about 4.48% of the shares outstanding. Vanguard Total Stock Market Index bought 5092.0 shares to see its total holdings expand to 3.74 million shares valued at over $51.14 million and representing 2.86% of the shares outstanding. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.68% of the shares outstanding.

    Shares of Pebblebrook Hotel Trust (NYSE: PEB) opened at $9.96, down -$0.49 from a prior closing price of $10.45. However, the script later closed the day at $10.74, up 2.78%. The company’s stock has a 5-day price change of -1.79% and -5.94% over the past three months. PEB shares are trading -61.02% year to date (YTD), with the 12-month market performance down to -63.24% lower. It has a 12-month low price of $5.39 and touched a high of $29.57 over the same period. Currently, 1.32 million shares have been traded, compared to an average intraday trading volume of 3.07 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.25%, -18.27%, and -42.41% respectively.

    Institutional ownership of Pebblebrook Hotel Trust (NYSE: PEB) 130.56M shares outstanding. Mutual fund holders own 50.66%, while other institutional holders and individual stakeholders account for 58.76% and 1.30% respectively.

    It has a market capitalization of $1.43B and a beta (3y monthly) value of 1.61. The stock’s trailing 12-month PE ratio is 11.48, while the earnings-per-share (ttm) stands at $0.91. The company has a PEG of 1.28 and the debt-to-equity ratio at 0.75. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.48% over the week and 6.51% over the month.

    Analysts forecast that Pebblebrook Hotel Trust (PEB) will achieve an EPS of $Parsley Energy, Inc. for the current quarter, $11.23 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Pennsylvania Real Estate Invest while analysts give the company a high EPS estimate of $Public Service Enterprise Group. Comparatively, EPS for the current quarter was $Eventbrite, Inc. a year ago. Earnings per share for the fiscal year are expected to decrease by -419.00%, and 56.70% over the next financial year. EPS should grow at an annualized rate of 9.00% over the next five years, compared to -2.40% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Pebblebrook Hotel Trust (PEB) as a “Hold” at a consensus score of 3.10. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 9 of the 15 advise that investors “hold,” and 3 rated it as a “Sell.”

    Looking at the support for the PEB, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on June 22, 2020, with the firm’s price target at $9-$15. Evercore ISI coverage for the Pebblebrook Hotel Trust (PEB) stock in a research note released on June 08, 2020 offered a Underperform rating with a price target of $18. BTIG Research was of a view on April 24, 2020 that the stock is Buy, while Citigroup gave the stock Sell rating on April 07, 2020, issuing a price target of $25- $8.50. Stifel on their part issued Hold rating on March 17, 2020.

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