Pebblebrook Hotel Trust (PEB) is overvalued and Park Hotels & Resorts Inc (PK) is undervalued.
Against our estimates of intrinsic value, PK trades at the wider discount: a margin of safety of +22%, against -70% for PEB.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.1% values the shares at $10.71; the price of $18.26 is 70% above that value, and 80% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
Discounting its cash flows at 7.9% (average of 2 methods) values the shares at $19.59; the price of $15.19 is 22% below that value, and 81% of that value comes from beyond year five.
Leak Score 56/100 on 2 of 12 signals
| Metric | PEB | PK |
|---|---|---|
| Verdict | Overvalued | Undervalued |
| Price | $18.26 | $15.19 |
| Intrinsic value | $10.71 | $19.59 |
| Margin of safety | -70% | +22% |
| Leak Score | 0/100 (2/12) | 56/100 (2/12) |
| Market cap | $2.1B | $3.1B |
| Revenue growth, 5 years | 27.2% | 24.4% |
| Operating margin | 7.4% | 11.9% |
| Net margin | -5.3% | -6.5% |
| Return on equity | -1.8% | -5.0% |
| Debt to equity | 1.02 | 1.33 |
| Forward P/E | — | 26.7x |
| P/B | 0.8x | 1.0x |
| Dividend yield | 0.2% | 6.7% |