Pebblebrook Hotel Trust

DB:PD0 Stock Report

Market Cap: €1.4b

Pebblebrook Hotel Trust Valuation

Is PD0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PD0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PD0 (€12.1) is trading below our estimate of fair value (€13.74)

Significantly Below Fair Value: PD0 is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PD0?

Key metric: As PD0 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PD0. This is calculated by dividing PD0's market cap by their current revenue.
What is PD0's PS Ratio?
PS Ratio1x
SalesUS$1.45b
Market CapUS$1.49b

Price to Sales Ratio vs Peers

How does PD0's PS Ratio compare to its peers?

The above table shows the PS ratio for PD0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.2x
AOX alstria office REIT-AG
5.2x-1.5%€1.3b
HABA Hamborner REIT
4.9x1.7%€514.1m
RLJ RLJ Lodging Trust
1.1x2.1%US$1.5b
XHR Xenia Hotels & Resorts
1.5x3.7%US$1.5b
PD0 Pebblebrook Hotel Trust
1.1x3.5%€1.5b

Price-To-Sales vs Peers: PD0 is good value based on its Price-To-Sales Ratio (1.1x) compared to the peer average (3.2x).

Price to Sales Ratio vs Industry

How does PD0's PS Ratio compare vs other companies in the Global Hotel and Resort REITs Industry?

8 CompaniesPrice / SalesEstimated GrowthMarket Cap
PD0 1.0xIndustry Avg. 6.2xNo. of Companies12PS03.67.210.814.418+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PD0 is good value based on its Price-To-Sales Ratio (1.1x) compared to the Global Hotel and Resort REITs industry average (6.2x).

Price to Sales Ratio vs Fair Ratio

What is PD0's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PD0 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1x
Fair PS Ratio3.3x

Price-To-Sales vs Fair Ratio: PD0 is good value based on its Price-To-Sales Ratio (1.1x) compared to the estimated Fair Price-To-Sales Ratio (3.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PD0 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€12.10
€14.29
+18.1%
19.8%€22.42€10.49n/a12
Nov ’25€10.80
€14.17
+31.2%
22.0%€23.44€11.03n/a12
Oct ’25€11.50
€13.96
+21.4%
21.5%€22.84€10.75n/a12
Sep ’25€11.80
€14.12
+19.7%
20.7%€22.86€10.76n/a12
Aug ’25€12.10
€14.95
+23.6%
18.8%€23.59€12.03n/a12
Jul ’25€12.10
€15.19
+25.5%
17.4%€23.75€12.57n/a13
Jun ’25€12.90
€15.17
+17.6%
18.0%€23.97€12.44n/a13
May ’25€13.40
€15.59
+16.3%
18.2%€24.32€12.63n/a12
Apr ’25€14.10
€15.37
+9.0%
18.8%€24.57€12.05n/a13
Mar ’25€14.80
€16.10
+8.8%
25.0%€25.87€12.01n/a13
Feb ’25€14.00
€15.86
+13.3%
25.8%€25.82€11.99n/a13
Jan ’25€14.50
€14.60
+0.7%
31.8%€25.42€9.99n/a13
Dec ’24€11.80
€14.72
+24.7%
33.1%€26.16€10.28n/a13
Nov ’24€10.80
€15.56
+44.1%
29.7%€26.37€11.30€10.8013
Oct ’24€12.70
€15.90
+25.2%
28.3%€25.81€10.14€11.5012
Sep ’24€13.20
€15.90
+20.4%
28.3%€25.81€10.14€11.8012
Aug ’24€13.60
€15.73
+15.6%
27.2%€25.46€10.91€12.1012
Jul ’24€12.60
€15.62
+24.0%
28.0%€25.54€10.95€12.1012
Jun ’24€12.40
€15.85
+27.8%
26.6%€25.54€11.86€12.9012
May ’24€12.70
€15.81
+24.5%
26.6%€25.41€11.80€13.4012
Apr ’24€12.70
€15.99
+25.9%
26.2%€25.67€11.00€14.1013
Mar ’24€13.30
€16.72
+25.7%
25.3%€26.47€11.34€14.8013
Feb ’24€15.00
€16.42
+9.5%
23.6%€25.49€11.83€14.0014
Jan ’24€12.30
€17.66
+43.6%
22.1%€27.36€14.15€14.5014
Dec ’23€15.60
€20.15
+29.2%
17.3%€28.09€17.43€11.8014
Nov ’23€16.20
€21.64
+33.6%
15.5%€29.35€18.22€10.8014

Analyst Forecast: Target price is less than 20% higher than the current share price.

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