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Pebblebrook Hotel Trust

NYSE:PEB.PRE
Snowflake Description

Second-rate dividend payer with limited growth.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PEB.PRE
NYSE
$4B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Pebblebrook Hotel Trust is a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The last earnings update was 32 days ago. More info.


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PEB.PRE Share Price and Events
7 Day Returns
1%
NYSE:PEB.PRE
0.1%
US REITs
-1.4%
US Market
1 Year Returns
-
NYSE:PEB.PRE
13.9%
US REITs
1.6%
US Market
PEB.PRE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pebblebrook Hotel Trust (PEB.PRE) 1% 1.7% -2.5% - - -
US REITs 0.1% 1.9% 3.8% 13.9% 11.3% 25.5%
US Market -1.4% -3.9% 0.1% 1.6% 33.2% 38.2%
1 Year Return vs Industry and Market
  • No trading data on PEB.PRE.
  • No trading data on PEB.PRE.
Price Volatility
PEB.PRE
Industry
5yr Volatility vs Market

PEB.PRE Value

 Is Pebblebrook Hotel Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Pebblebrook Hotel Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Pebblebrook Hotel Trust.

NYSE:PEB.PRE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:PEB.PRE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 21%) (71.74%))
0.885
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.885 * 5.96%)
8%

Discounted Cash Flow Calculation for NYSE:PEB.PRE using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Pebblebrook Hotel Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Pebblebrook Hotel Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:PEB.PRE DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 8%)
2019 277.41 Analyst x4 256.85
2020 288.51 Analyst x5 247.33
2021 283.16 Analyst x3 224.75
2022 287.50 Est @ 1.53% 211.28
2023 292.93 Est @ 1.89% 199.32
2024 299.21 Est @ 2.14% 188.50
2025 306.14 Est @ 2.32% 178.58
2026 313.62 Est @ 2.44% 169.38
2027 321.55 Est @ 2.53% 160.79
2028 329.87 Est @ 2.59% 152.73
Present value of next 10 years cash flows $1,989.51
NYSE:PEB.PRE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $329.87 × (1 + 2.73%) ÷ (8% – 2.73%)
$6,424.47
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $6,424.47 ÷ (1 + 8%)10
$2,974.46
NYSE:PEB.PRE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,989.51 + $2,974.46
$4,963.96
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $4,963.96 / 131.00
$32.59
NYSE:PEB.PRE Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NYSE:PEB.PRE represents 0.86012x of NYSE:PEB
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.86012x
Value per Share
(Listing Adjusted, USD)
= Value per Share (USD) x Listing Adjustment Factor
= $ 32.59 x 0.86012
$28.03
Value per share (USD) From above. $28.03
Current discount Discount to share price of $25.21
= -1 x ($25.21 - $28.03) / $28.03
10.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Pebblebrook Hotel Trust is available for.
Intrinsic value
10%
Share price is $25.21 vs Future cash flow value of $28.03
Current Discount Checks
For Pebblebrook Hotel Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pebblebrook Hotel Trust's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Pebblebrook Hotel Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Pebblebrook Hotel Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pebblebrook Hotel Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:PEB.PRE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.30
NYSE:PEB Share Price ** NYSE (2019-05-24) in USD $29.31
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.61x
United States of America Market PE Ratio Median Figure of 3,086 Publicly-Listed Companies 17.45x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Pebblebrook Hotel Trust.

NYSE:PEB.PRE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:PEB Share Price ÷ EPS (both in USD)

= 29.31 ÷ -0.30

-96.33x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pebblebrook Hotel Trust is loss making, we can't compare its value to the US REITs industry average.
  • Pebblebrook Hotel Trust is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Pebblebrook Hotel Trust's expected growth come at a high price?
Raw Data
NYSE:PEB.PRE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -96.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
15.6%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,121 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Pebblebrook Hotel Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Pebblebrook Hotel Trust's assets?
Raw Data
NYSE:PEB.PRE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $28.33
NYSE:PEB Share Price * NYSE (2019-05-24) in USD $29.31
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,208 Publicly-Listed Companies 1.8x
NYSE:PEB.PRE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:PEB Share Price ÷ Book Value per Share (both in USD)

= 29.31 ÷ 28.33

1.03x

* Primary Listing of Pebblebrook Hotel Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Pebblebrook Hotel Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Pebblebrook Hotel Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Pebblebrook Hotel Trust has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

PEB.PRE Future Performance

 How is Pebblebrook Hotel Trust expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
15.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pebblebrook Hotel Trust expected to grow at an attractive rate?
  • Pebblebrook Hotel Trust's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Pebblebrook Hotel Trust's earnings growth is expected to exceed the United States of America market average.
  • Pebblebrook Hotel Trust's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:PEB.PRE Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:PEB.PRE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 15.6%
NYSE:PEB.PRE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 3.4%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:PEB.PRE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:PEB.PRE Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1,611 408 118 6
2020-12-31 1,596 391 123 11
2019-12-31 1,605 401 120 11
NYSE:PEB.PRE Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,015 151 -27
2018-12-31 829 136 -4
2018-09-30 773 213 108
2018-06-30 769 203 108
2018-03-31 768 198 94
2017-12-31 769 194 83
2017-09-30 788 207 90
2017-06-30 797 218 20
2017-03-31 805 232 50
2016-12-31 814 240 46
2016-09-30 813 248 49
2016-06-30 822 247 124

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pebblebrook Hotel Trust's earnings are expected to grow by 15.6% yearly, however this is not considered high growth (20% yearly).
  • Pebblebrook Hotel Trust's revenue is expected to grow by 3.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:PEB.PRE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Pebblebrook Hotel Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:PEB.PRE Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.09 1.09 1.09 1.00
2020-12-31 0.95 1.00 0.89 2.00
2019-12-31 0.84 0.93 0.75 2.00
NYSE:PEB.PRE Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.30
2018-12-31 -0.06
2018-09-30 1.56
2018-06-30 1.57
2018-03-31 1.36
2017-12-31 1.20
2017-09-30 1.28
2017-06-30 0.28
2017-03-31 0.69
2016-12-31 0.65
2016-09-30 0.68
2016-06-30 1.73

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Pebblebrook Hotel Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Pebblebrook Hotel Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Pebblebrook Hotel Trust has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

PEB.PRE Past Performance

  How has Pebblebrook Hotel Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Pebblebrook Hotel Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Pebblebrook Hotel Trust does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Pebblebrook Hotel Trust's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Pebblebrook Hotel Trust's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Pebblebrook Hotel Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Pebblebrook Hotel Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:PEB.PRE Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,014.79 -27.29 28.80
2018-12-31 828.68 -4.41 22.51
2018-09-30 772.67 107.67 28.12
2018-06-30 768.98 108.30 22.31
2018-03-31 768.19 93.78 20.16
2017-12-31 769.32 83.38 23.98
2017-09-30 788.29 89.82 25.21
2017-06-30 796.81 19.58 27.53
2017-03-31 805.05 49.93 27.45
2016-12-31 814.20 46.47 27.91
2016-09-30 813.33 48.58 30.54
2016-06-30 822.09 124.02 30.65
2016-03-31 808.96 74.18 30.47
2015-12-31 777.08 68.29 31.24
2015-09-30 740.39 61.35 28.03
2015-06-30 694.51 53.43 28.35
2015-03-31 645.40 50.00 27.77
2014-12-31 608.97 47.33 28.32
2014-09-30 579.26 42.70 56.91
2014-06-30 539.58 30.32 86.58
2014-03-31 517.30 22.50 116.65
2013-12-31 497.40 19.64 17.17
2013-09-30 475.14 17.46 137.98
2013-06-30 448.67 13.60 131.04
2013-03-31 417.41 10.28 123.99
2012-12-31 388.72 7.94 116.54
2012-09-30 363.66 8.81 110.56
2012-06-30 346.60 4.13 107.79

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Pebblebrook Hotel Trust has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Pebblebrook Hotel Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • It is difficult to establish if Pebblebrook Hotel Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Pebblebrook Hotel Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Pebblebrook Hotel Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

PEB.PRE Health

 How is Pebblebrook Hotel Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Pebblebrook Hotel Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pebblebrook Hotel Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Pebblebrook Hotel Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Pebblebrook Hotel Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Pebblebrook Hotel Trust Company Filings, last reported 1 month ago.

NYSE:PEB.PRE Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,706.80 2,754.56 51.42
2018-12-31 3,769.93 2,746.90 83.37
2018-09-30 1,534.98 1,333.26 18.03
2018-06-30 1,532.63 1,222.61 17.25
2018-03-31 1,500.33 1,042.94 15.97
2017-12-31 1,503.53 885.24 25.41
2017-09-30 1,515.65 872.93 14.19
2017-06-30 1,514.45 886.25 14.34
2017-03-31 1,533.99 1,073.42 31.94
2016-12-31 1,609.12 996.25 33.41
2016-09-30 1,604.54 1,129.15 46.63
2016-06-30 1,753.13 1,030.50 36.31
2016-03-31 1,592.31 1,267.58 28.28
2015-12-31 1,760.83 1,105.60 26.35
2015-09-30 1,758.69 1,134.31 38.56
2015-06-30 1,757.94 1,183.74 33.21
2015-03-31 1,754.34 876.61 28.66
2014-12-31 1,782.41 843.99 52.88
2014-09-30 1,646.58 633.78 120.31
2014-06-30 1,463.69 621.20 38.98
2014-03-31 1,460.29 551.41 45.29
2013-12-31 1,475.08 554.25 55.14
2013-09-30 1,404.71 556.85 110.94
2013-06-30 1,402.40 535.32 153.09
2013-03-31 1,386.28 538.04 115.63
2012-12-31 1,313.09 468.51 85.90
2012-09-30 1,315.22 359.47 147.48
2012-06-30 1,245.18 260.22 163.90
  • Pebblebrook Hotel Trust's level of debt (74.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (37.8% vs 74.3% today).
  • Debt is not well covered by operating cash flow (5.5%, less than 20% of total debt).
  • Pebblebrook Hotel Trust is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Pebblebrook Hotel Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Pebblebrook Hotel Trust has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

PEB.PRE Dividends

 What is Pebblebrook Hotel Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.19%
Current annual income from Pebblebrook Hotel Trust dividends. Estimated to be 5.18% next year.
If you bought $2,000 of Pebblebrook Hotel Trust shares you are expected to receive $104 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Pebblebrook Hotel Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Pebblebrook Hotel Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.75%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:PEB.PRE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2007 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:PEB.PRE Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.49 5.00
2020-12-31 1.54 10.00
2019-12-31 1.51 10.00
NYSE:PEB.PRE Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-15 1.520 4.833
2018-12-14 1.520 4.887
2018-09-17 1.520 4.435
2018-06-15 1.520 3.946
2018-03-15 1.520 4.143
2017-12-15 1.520 4.127
2017-09-15 1.520 4.169
2017-06-15 1.520 4.619
2017-03-15 1.520 5.036
2016-12-15 1.520 5.189
2016-09-15 1.520 5.629
2016-06-15 1.520 5.334
2016-03-15 1.520 5.667
2015-12-15 1.240 4.806
2015-09-15 1.240 3.627
2015-06-10 1.240 3.005
2015-03-16 1.240 2.804
2014-12-15 0.920 1.941
2014-09-15 0.920 2.281
2014-06-16 0.920 2.450
2014-03-14 0.920 2.658
2013-12-13 0.640 2.037
2013-09-13 0.640 2.203
2013-06-14 0.640 2.391
2013-03-15 0.640 2.426
2013-02-21 0.640 2.654
2012-12-14 0.480 2.002
2012-09-14 0.480 2.182
2012-06-15 0.480 2.075
2012-03-15 0.480 2.130
2011-12-15 0.480 2.282
2011-09-15 0.480 2.817
2011-06-15 0.480 2.750
2011-03-15 0.480 2.279
2010-12-15 0.480 2.281

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Pebblebrook Hotel Trust has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Pebblebrook Hotel Trust only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Pebblebrook Hotel Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (228.8x coverage).
X
Income/ dividend checks
We assess Pebblebrook Hotel Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Pebblebrook Hotel Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pebblebrook Hotel Trust has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

PEB.PRE Management

 What is the CEO of Pebblebrook Hotel Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jon Bortz
COMPENSATION $5,645,103
AGE 62
TENURE AS CEO 9.4 years
CEO Bio

Mr. Jon E. Bortz, C.P.A. has been Chief Executive Officer and President at Pebblebrook Hotel Trust since October 2009. Mr. Bortz served as the Principal Financial Officer and Principal Accounting Officer of Pebblebrook Hotel Trust. He served as the Chairman of LaSalle Hotel Properties from January 1, 2001 to September 14, 2009, Chief Executive Officer since January 1998 until September 14, 2009 and President since January 1998 until September 2009. He founded LaSalle Hotel Properties. Prior to this, he served as Managing Director of Investment Advisory Division at Jones Lang LaSalle from January 1995 to April 1998. He was also responsible for certain east coast development projects, including the redevelopment of Grand Central Terminal in New York City. He joined Jones Lang LaSalle in 1981. He was founder of the Hotel Investment Group of Jones Lang LaSalle Incorporated in January 1994 and as its President oversaw all of Jones Lang LaSalle's hotel investment and development activities. From January 1990 to January 1995, he served as a Senior Vice President of Investment Division at Jones Lang LaSalle. He served as an Auditor at Touche Ross & Co. He has been the Chairman of Pebblebrook Hotel Trust since October 2009. He has been a Director of Metropark USA, Inc. since April 2008. He has been an Independent Trustee of Federal Realty Investment Trust since June 30, 2005 and Pebblebrook Hotel Trust since October 2009. He served as a Trustee at LaSalle Hotel Properties since January 1998 until September 14, 2009. He was a Member of the Advisory Board of Governors at Nareit (formerly known as the National Association of Real Estate Investment Trusts). Mr. Bortz qualified as a Certified Public Accountant in Maryland in 1979 and holds a B.S in Economics, summa cum laude from The Wharton School of the University of Pennsylvania in 1978.

CEO Compensation
  • Jon's compensation has increased whilst company is loss making.
  • Jon's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Pebblebrook Hotel Trust management team in years:

9.4
Average Tenure
47.5
Average Age
  • The average tenure for the Pebblebrook Hotel Trust management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jon Bortz

TITLE
Chairman
COMPENSATION
$6M
AGE
62
TENURE
9.4 yrs

Raymond Martz

TITLE
Executive VP
COMPENSATION
$2M
AGE
48
TENURE
9.4 yrs

Thomas Fisher

TITLE
Executive VP & Chief Investment Officer
COMPENSATION
$2M
AGE
47
TENURE
9.3 yrs

Gabby Gordon

TITLE
Director of Finance

Andy Dittamo

TITLE
VP & Controller
AGE
44
TENURE
9.4 yrs
Board of Directors Tenure

Average tenure and age of the Pebblebrook Hotel Trust board of directors in years:

9.4
Average Tenure
62
Average Age
  • The tenure for the Pebblebrook Hotel Trust board of directors is about average.
Board of Directors

Cydney Donnell

TITLE
Independent Trustee
COMPENSATION
$175K
AGE
58
TENURE
9.4 yrs

Jon Bortz

TITLE
Chairman
COMPENSATION
$6M
AGE
62
TENURE
9.4 yrs

Mike Schall

TITLE
Independent Trustee
COMPENSATION
$170K
AGE
61
TENURE
9.4 yrs

Phillip Miller

TITLE
Lead Trustee
COMPENSATION
$165K
AGE
65

Ron Jackson

TITLE
Independent Trustee
COMPENSATION
$155K
AGE
75
TENURE
9.4 yrs

Earl Webb

TITLE
Independent Trustee
COMPENSATION
$155K
AGE
62
TENURE
9.4 yrs

Bonny Simi

TITLE
Independent Trustee
AGE
56
TENURE
0.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Pebblebrook Hotel Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Pebblebrook Hotel Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

PEB.PRE News

Simply Wall St News

PEB.PRE Company Info

Description

Pebblebrook Hotel Trust is a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns 61 hotels, totaling approximately 14,600 guest rooms, located in 10 states and the District of Columbia, including: Del Mar, California; Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Santa Cruz, California; Washington, DC; Coral Gables, Florida; Key West, Florida; Naples, Florida; Buckhead, Georgia; Chicago, Illinois; Boston, Massachusetts; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.

Details
Name: Pebblebrook Hotel Trust
PEB.PRE
Exchange: NYSE
Founded: 2009
$3,839,717,655
$3,828,874,245
131,003,673
Website: http://www.pebblebrookhotels.com
Address: Pebblebrook Hotel Trust
7315 Wisconsin Avenue,
Suite 1100 West,
Bethesda,
Maryland, 20814,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE PEB Common Shares New York Stock Exchange US USD 09. Dec 2009
DB PD0 Common Shares Deutsche Boerse AG DE EUR 09. Dec 2009
NYSE PEB.PRC PFD SER C 6.50% New York Stock Exchange US USD 20. Mar 2013
NYSE PEB.PRD PFD SHS SER D New York Stock Exchange US USD 03. Jun 2016
NYSE PEB.PRE 6.375 PFD SER E New York Stock Exchange US USD 04. Dec 2018
NYSE PEB.PRF 6.3 CUM PFD SR F New York Stock Exchange US USD 04. Dec 2018
Number of employees
Current staff
Staff numbers
50
Pebblebrook Hotel Trust employees.
Industry
Hotel and Resort REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/27 00:58
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/23
Last earnings filing: 2019/04/25
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.