Credit Suisse Downgrades Pebblebrook Hotel Trust to Neutral with Price Target $29.00

Brokerage firm Credit Suisse Downgrades its rating on Pebblebrook Hotel Trust(NYSE:PEB). In a research note issued to the investors, the brokerage major Lowers the price-target to $29.00 per share. The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Jul 21, 2016.

Pebblebrook Hotel Trust (PEB) made into the market gainers list on Wednesdays trading session with the shares advancing 0.57% or 0.17 points. Due to strong positive momentum, the stock ended at $29.97, which is also near the day’s high of $30.12. The stock began the session at $29.61 and the volume stood at 15,03,173 shares. The 52-week high of the shares is $46.66 and the 52 week low is $20.51. The company has a current market capitalization of $2,160 M and it has 7,20,57,540 shares in outstanding.

Pebblebrook Hotel Trust(PEB) last announced its earnings results on Apr 27, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $196.25M. Analysts had an estimated revenue of $190.99M. Earnings per share were $0.56. Analysts had estimated an EPS of $0.46.

Several Insider Transactions has been reported to the SEC. On Jun 15, 2016, Raymond D Martz (Exec VP, CFO, Treasurer, Secre) sold 15,848 shares at $25.26 per share price.Also, 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 Company’s assets are held by and the operations are conducted through Pebblebrook Hotel L.P.

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