Pebblebrook Hotel Trust (NYSE:PEB) Price Target Raised to $14.00

Pebblebrook Hotel Trust (NYSE:PEB) had its target price boosted by Wells Fargo & Company from $13.00 to $14.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other research analysts have also commented on PEB. Truist Financial lowered their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Compass Point upgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Thursday, November 21st. Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $14.75 to $15.00 in a research report on Friday, November 22nd. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird dropped their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.58.

Pebblebrook Hotel Trust Stock Performance

NYSE:PEB opened at $13.80 on Tuesday. Pebblebrook Hotel Trust has a fifty-two week low of $11.65 and a fifty-two week high of $16.65. The company has a 50 day moving average price of $12.88 and a 200 day moving average price of $13.27. The stock has a market capitalization of $1.65 billion, a P/E ratio of -47.58, a PEG ratio of 0.65 and a beta of 1.85. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.29%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -13.79%.

Insider Activity at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $21.37, for a total transaction of $235,070.00. Following the transaction, the chief executive officer now directly owns 1,349,284 shares in the company, valued at approximately $28,834,199.08. This trade represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jon E. Bortz bought 13,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost of $12.68 per share, for a total transaction of $164,840.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,395,284 shares in the company, valued at approximately $17,692,201.12. This trade represents a 0.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Pebblebrook Hotel Trust

A number of large investors have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in shares of Pebblebrook Hotel Trust by 68.1% in the second quarter. Bank of Montreal Can now owns 1,875,288 shares of the real estate investment trust’s stock valued at $25,841,000 after buying an additional 759,964 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in Pebblebrook Hotel Trust by 38.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock valued at $26,997,000 after acquiring an additional 541,573 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Pebblebrook Hotel Trust by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,418,159 shares of the real estate investment trust’s stock valued at $31,992,000 after acquiring an additional 130,265 shares during the last quarter. Atom Investors LP acquired a new stake in Pebblebrook Hotel Trust during the 3rd quarter worth approximately $1,363,000. Finally, GSA Capital Partners LLP grew its stake in shares of Pebblebrook Hotel Trust by 47.4% in the 3rd quarter. GSA Capital Partners LLP now owns 223,654 shares of the real estate investment trust’s stock valued at $2,959,000 after purchasing an additional 71,920 shares during the last quarter.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.