Goldman Sachs Starts PebbleBrook Hotel Trust (PEB) at Neutral

Goldman Sachs initiates coverage on PebbleBrook Hotel Trust (NYSE: PEB) with a Neutral rating and a price target of $27.00.

Analyst Stephen Grambling notes that PEB, much like Lasalle Hotel Properties (NYSE: LHO), is highly exposed to the San Francisco housing market. He sees execution has a near-term headwind while noting the company has a high-quality portfolio of holdings.

FY 2017 EPS estimate is for $0.78, FY 2018 EPS estimate is for $0.74 and FY 2019 EPS estimate is for $0.84.

For an analyst ratings summary and ratings history on PebbleBrook Hotel Trust click here. For more ratings news on PebbleBrook Hotel Trust click here.

Shares of PebbleBrook Hotel Trust closed at $28.78 Friday.

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