Truist lowered the firm’s price target on Pebblebrook Hotel to $15 from $16 and keeps a Hold rating on the shares as part of a broader research note previewing Q3 earnings in Lodging. The firm’s expectation is for management commentary to remain positive, especially on the outlook for groups, but it also sees domestic leisure as “soft”, the analyst tells investors in a research note. Truist further cites the company having forecast its impact from storms in Southern California and Florida/Georgia having negatively reduced hotel revenue by $3.5M and hotel EBITDA by $2.5M.
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