Pebblebrook Hotel Receives a Hold from Boenning & Scattergood

By Austin Angelo

Boenning & Scattergood analyst Floris van Dijkum reiterated a Hold rating on Pebblebrook Hotel (NYSE: PEB) today. The company’s shares closed on Friday at $33.19, close to its 52-week high of $34.38.

van Dijkum wrote:

“We have updated our earnings and NAV estimate to reflect the company’s improved outlook, yet remain more cautious than management’s own calculation. However, we believe PEB could see the highest earnings ramp in the sector in 2019 if the economic cycle holds up.”

According to TipRanks.com, Dijkum is a 2-star analyst with an average return of 2.2% and a 44.0% success rate. Dijkum covers the Financial sector, focusing on stocks such as Pennsylvania Real Estate ate Investment, Retail Properties of America Inc, and General Growth Properties Inc.

Currently, the analyst consensus on Pebblebrook Hotel is Moderate Buy and the average price target is $34.13, representing a 2.8% upside.

In a report issued on July 27, Stifel Nicolaus also reiterated a Hold rating on the stock with a $31.50 price target.

Based on Pebblebrook Hotel’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $206 million and quarterly net profit of $43.36 million. In comparison, last year the company earned revenue of $214 million and had a net profit of $73.89 million.

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Pebblebrook Hotel Trust operates as a real estate investment trust. It invests, manages, and operates motels, hotels, and resorts. The company was founded by Jon E. Bortz on October 2, 2009 and is headquartered in Bethesda, MD.