Wells Fargo Downgrades Pebblebrook Hotel Trust to Market Perform

Brokerage firm Wells Fargo Downgrades its rating on Pebblebrook Hotel Trust(NYSE:PEB). The shares have been rated Market Perform. Previously, the analysts had a Market Outperform rating on the shares. The rating by Wells Fargo was issued on Jul 26, 2016.

In a different note, On Jul 21, 2016, Credit Suisse said it Downgrades its rating on Pebblebrook Hotel Trust. In the research note, the firm Lowers the price-target to $30.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 20, 2016, Evercore ISI Group said it Downgrades its rating on Pebblebrook Hotel Trust. The shares have been rated ‘Hold’ by the firm.

Pebblebrook Hotel Trust (PEB) made into the market gainers list on Fridays trading session with the shares advancing 1.54% or 0.45 points. Due to strong positive momentum, the stock ended at $29.65, which is also near the day’s high of $29.72. The stock began the session at $29.12 and the volume stood at 11,12,399 shares. The 52-week high of the shares is $41.22 and the 52 week low is $20.51. The company has a current market capitalization of $2,137 M and it has 7,20,58,795 shares in outstanding.

Pebblebrook Hotel Trust(PEB) last announced its earnings results on Jul 25, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $212.27M. Analysts had an estimated revenue of $211.95M. Earnings per share were $0.81. Analysts had estimated an EPS of $0.76.

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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