Barclays analyst Anthony Powell raised the firm’s price target on Pebblebrook Hotel to $16 from $15 and keeps an Equal Weight rating on the shares. The analyst expects lodging real estate investment trusts to initiate relatively conservative 2024 earnings guidance in terms of RevPAR growth and margins, yet the firm expresses optimism regarding group bookings, stabilization of leisure demand, and continued improvement in business transient demand.
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