NYSE:PEB

Stock Analysis Report

Pebblebrook Hotel Trust

Executive Summary

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels in the United States.

Snowflake

Fundamentals

Second-rate dividend payer and slightly overvalued.


Similar Companies

Share Price & News

How has Pebblebrook Hotel Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-2.8%

PEB

1.5%

US REITs

0.4%

US Market


1 Year Return

-17.5%

PEB

19.9%

US REITs

6.9%

US Market

Return vs Industry: PEB underperformed the US REITs industry which returned 19.9% over the past year.

Return vs Market: PEB underperformed the US Market which returned 6.9% over the past year.


Shareholder returns

PEBIndustryMarket
7 Day-2.8%1.5%0.4%
30 Day-5.9%1.6%-1.1%
90 Day-0.9%7.8%-0.5%
1 Year-13.1%-17.5%25.2%19.9%9.3%6.9%
3 Year15.2%0%36.0%18.6%45.8%36.4%
5 Year-19.0%-35.3%64.7%30.0%62.9%45.1%

Price Volatility Vs. Market

How volatile is Pebblebrook Hotel Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Pebblebrook Hotel Trust undervalued compared to its fair value and its price relative to the market?

26.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: PEB ($26.36) is trading below our estimate of fair value ($35.65)

Significantly Undervalued: PEB is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: PEB is unprofitable, so we can't compare its PE Ratio to the REITs industry average.

PE vs Market: PEB is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate PEB's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: PEB is good value based on its PB Ratio (0.9x) compared to the US REITs industry average (2x).


Next Steps

Future Growth

How is Pebblebrook Hotel Trust forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

5.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PEB is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: PEB is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: PEB is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: PEB's revenue is expected to decline over the next 3 years (-0.06% per year).

High Growth Revenue: PEB's revenue is forecast to decline over the next 3 years (-0.06% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if PEB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

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

-7.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PEB is unprofitable, and losses have increased over the past 5 years at a rate of -7.3% per year.

Accelerating Growth: Unable to compare PEB's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PEB is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (17.6%).


Return on Equity

High ROE: PEB has a negative Return on Equity (-0.088%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: PEB is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: PEB is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Pebblebrook Hotel Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: PEB has a high level of physical assets or inventory.

Debt Coverage by Assets: PEB's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: PEB's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if PEB has a sufficient allowance for bad loans.

Low Risk Liabilities: PEB reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if PEB has an acceptable proportion of non-loan assets held.

Low Risk Deposits: PEB has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if PEB has an appropriate level of bad loans.


Next Steps

Dividend

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

5.77%

Current Dividend Yield


Dividend Yield vs Market

company5.8%marketbottom25%1.4%markettop25%3.7%industryaverage3.6%forecastin3Years5.8%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PEB's dividend (5.77%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: PEB's dividend (5.77%) is in the top 25% of dividend payers in the US market (3.73%)

Stable Dividend: Whilst dividend payments have been stable, PEB has been paying a dividend for less than 10 years.

Growing Dividend: PEB's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (116.2%), PEB's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PEB's dividends in 3 years are forecast to be thoroughly covered by earnings (0.5% payout ratio).


Next Steps

Management

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

9.8yrs

Average management tenure


CEO

Jon Bortz (63yo)

9.8yrs

Tenure

US$5,645,103

Compensation

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 o ...


CEO Compensation Analysis

Compensation vs. Market: Jon's total compensation ($USD5.65M) is about average for companies of similar size in the US market ($USD5.11M).

Compensation vs Earnings: Jon's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

9.8yrs

Average Tenure

48.5yo

Average Age

Experienced Management: PEB's management team is seasoned and experienced (9.8 years average tenure).


Board Age and Tenure

9.8yrs

Average Tenure

63yo

Average Age

Experienced Board: PEB's board of directors are considered experienced (9.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$49,81210 Dec 18
Cydney Donnell
EntityIndividual
Role
Member of the Board of Directors
Independent Trustee
Shares1,400
Max PriceUS$35.58

Ownership Breakdown


Management Team

  • Jon Bortz (63yo)

    Chairman

    • Tenure: 9.8yrs
    • Compensation: US$5.65m
  • Thomas Fisher (48yo)

    Executive VP & Chief Investment Officer

    • Tenure: 9.8yrs
    • Compensation: US$2.44m
  • Raymond Martz (49yo)

    Executive VP

    • Tenure: 9.8yrs
    • Compensation: US$2.44m
  • Andy Dittamo (45yo)

    VP & Controller

    • Tenure: 9.8yrs
  • Gabby Gordon

    Director of Finance

    • Tenure: 0yrs

Board Members

  • Mike Schall (62yo)

    Independent Trustee

    • Tenure: 9.8yrs
    • Compensation: US$170.00k
  • Earl Webb (63yo)

    Independent Trustee

    • Tenure: 9.8yrs
    • Compensation: US$155.00k
  • Jon Bortz (63yo)

    Chairman

    • Tenure: 9.8yrs
    • Compensation: US$5.65m
  • Cydney Donnell (59yo)

    Independent Trustee

    • Tenure: 9.8yrs
    • Compensation: US$175.00k
  • Ron Jackson (76yo)

    Independent Trustee

    • Tenure: 9.8yrs
    • Compensation: US$155.00k
  • Phillip Miller (66yo)

    Lead Trustee

    • Tenure: 0yrs
    • Compensation: US$165.00k
  • Bonny Simi (57yo)

    Independent Trustee

    • Tenure: 0.5yrs

Company Information

Pebblebrook Hotel Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Pebblebrook Hotel Trust
  • Ticker: PEB
  • Exchange: NYSE
  • Founded: 2009
  • Industry: Hotel and Resort REITs
  • Sector: Real Estate
  • Implied Market Cap: US$3.427b
  • Market Cap: US$3.443b
  • Shares outstanding: 131.00m
  • Website: https://www.pebblebrookhotels.com

Number of Employees


Location

  • Pebblebrook Hotel Trust
  • 4747 Bethesda Avenue
  • Suite 1100
  • Bethesda
  • Maryland
  • 20814
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PEBNYSE (New York Stock Exchange)YesCommon SharesUSUSDDec 2009
PD0DB (Deutsche Boerse AG)YesCommon SharesDEEURDec 2009
PEB.PRCNYSE (New York Stock Exchange)PFD SER C 6.50%USUSDMar 2013
PEB.PRDNYSE (New York Stock Exchange)PFD SHS SER DUSUSDJun 2016
PEB.PRENYSE (New York Stock Exchange)6.375 PFD SER EUSUSDDec 2018
PEB.PRFNYSE (New York Stock Exchange)6.3 CUM PFD SR FUSUSDDec 2018

Biography

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 59 hotels, t ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/20 00:19
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.