The stock of Pebblebrook Hotel Trust (NYSE:PEB) is now priced at $12.62 and the shares are -0.24 points down or -1.87% lower compared to its previous closing price of $12.86. The stock had 2.237 million contracts set over the past session. PEB shares’ daily volume is compared to its average trading volume at 2.565 million shares. However, it has a float of 129 million and although its performance was 1.04% over the week, it’s one to watch. Analysts have given the PEB stock a yearly average price target of $14.08 per share. It means the stock’s upside potential is 11.57% with the PEB share price recently placing at $12.44 to $12.85. However, some brokerage firms have priced the stock below the average, including one that has called $8.5.
The shorts are running away from the Pebblebrook Hotel Trust stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the PEB shares have declined. Short interest in the stock represents just 7.55% of its float, but the volume has dropped by 0.
In the last trading session, Pebblebrook Hotel Trust (NYSE:PEB) raised by $0.13 over the week and gained $2.25 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $29.57. The stock recorded its established 52-week high on 09/11/19.
Since 03/18/20, the stock has traded to a low of $5.39 at 134.14%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.68. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Pebblebrook Hotel Trust’s two-week RSI is 57.78. This suggests that the stock is neutral at the moment and that PEB shares’ price movement remains stable. The stochastic readings are equally revealing at 80.35% meaning the PEB share price is currently in oversold territory.
The technical chart shows that the PEB stock will likely settle at between $12.83 and $13.05 per share. However, if the stock dips below $12.42, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $12.23.
Currently, the stock is trading in the green of MACD, with a reading of 0.37. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Barclays raised their recommendation for PEB from Underweight to Equal Weight in June 22 review while maintain their target price of $9 to $15. Evercore ISI analysts downgraded their recommendation of the stock from In-line to Underperform while keeping its target price at $18 in a flash note released to investors on June 08. BTIG Research seeing the improvements upgraded the stock from Neutral to Buy on April 24, placing it at $16.
The average rating for the PEB equity is 3.07 and is currently gathering a bearish momentum. Of 14 analysts tracking Pebblebrook Hotel Trust polled by Reuters, 9 rated PEB as a hold. The remaining 5 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 3 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Pebblebrook Hotel Trust (NYSE:PEB) will decrease by about -99.71%, which will see them reach $83.96 million. The company’s full-year revenues are, however, expected to diminish by about -67.12%, down from $1610 million to $529 million. PEB’s expected adjusted earnings should drop almost -547.06% to end up at -$0.76 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -479.37% to record -$2.39/share.