Only one of our models could value this stock with confidence, so use it as a guide.
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Valued as a REIT (property company): Price to FFO, Dividend discount, and EV/EBITDA comparison.
ACCE opinionPebblebrook Hotel Trust Common Shares of Beneficial Interest (PEB)
Fair value (2 models)
Not available
ACCE price target
$18.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 11 Oct 2026, 00:00 CEST.
Price used: $20.39 at the close on 23 Oct 2026, 22:00 CEST.
Models: Dividend discount, EV/EBITDA comparison, and Price to FFO.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
57
out of 100
Analysts
25% buy
16 covering
P/E
0.0x
forward 24.6x
1-year return
+89.5%
Dividend yield
0.19%
Pebblebrook Hotel Trust Common Shares of Beneficial Interest in four questions
Plain answers, details below
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Overview
ACCE thesis
Pebblebrook Hotel Trust owns and operates upper-upscale and luxury hotels in major US urban markets, with a portfolio concentrated in gateway cities such as San Francisco, Boston, Los Angeles and Washington, D.C. Its edge is the quality of that real estate, but the stock is priced for a recovery that its own numbers have not yet delivered: revenue growth is -0.1%, return on equity is -1.6%, and the trailing P/E is not meaningful, while the forward P/E of 24.6 implies earnings are expected to improve sharply. The near-term driver to watch is whether business and group travel recovery in its urban markets lifts RevPAR and flows through to margins, which currently sit at 14.3% operating and 25.3% gross. The case is interesting now mainly as a valuation and earnings-inflection question rather than a growth story, and the 57/100 score reflects that the balance sheet and earnings momentum have not yet caught up with the thesis. Worth a deeper look if you want exposure to a recovering urban-hotel cycle, with the forward earnings path as the key thing to test.
⚠ Investor warnings · 5 flagsAI-assisted·How I use AI
high
Debt-heavy balance sheet
Debt/Equity of 1.00 with ROE at -1.6% and net margin at -3.1%. Leverage is high for a company not yet earning a positive return on equity.
high
Heavy short interest
Short interest stands at 28.4% of the float. Positioning is this crowded against the stock, which raises volatility risk for any position.
moderate
Revenue shrinking year over year
Revenue fell 0.1% year over year and 1.0% quarter over quarter, while the 5-year revenue CAGR of 27.2% is a historical figure that no longer reflects the current trend.
moderate
Insider selling outweighs buying
Last 10 disclosed insider transactions total $0.56M in sales against $0.11M in buys, a net selling skew from insiders.
moderate
Price above ACCE target
At $19.49 the stock trades 13.3% above the ACCE price target of $18.00, so the current price already sits past our own target.
AI research notes
AI-assisted·How I use AIWritten Oct 18, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Free cash flow over the last twelve months was $152M, a yield of 6.9%, suggesting the business generates real cash despite weak reported earnings.
The company beat earnings expectations last quarter, reporting $0.68 per share against $0.59 expected.
The diluted share count fell 2.3% last fiscal year, so each remaining share holds a slightly larger claim on the business.
Why it could disappoint
Revenue slipped 0.1% year over year, a sharp contrast with the 27.2% average annual growth over five years.
The company still lost money, with a net margin of -3.1% and return on equity of -1.6%.
At 24.6 times forward earnings and $20.39, the stock trades 13.3% above the $18.00 ACCE price target.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Oct 29, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where PEB's valuation models land
Price
$20.39
Model fair valueConfidence: medium
$13.14
Model
Fair value
Upside
Dividend discount
EV/EBITDA comparison
Price to FFO
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Quality
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