Pebblebrook Hotel Trust (NYSE:PEB) Given Average Recommendation of “Reduce” by Brokerages

Shares of Pebblebrook Hotel Trust (NYSE:PEB) have been assigned a consensus recommendation of “Reduce” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $13.92.

PEB has been the subject of several analyst reports. Truist Financial reduced their target price on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th.

Insider Buying and Selling

In related news, CEO Jon E. Bortz purchased 66,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $11.98 per share, with a total value of $790,680.00. Following the completion of the transaction, the chief executive officer now owns 1,319,284 shares of the company’s stock, valued at approximately $15,805,022.32. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 66,000 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $11.98 per share, for a total transaction of $790,680.00. Following the completion of the purchase, the chief executive officer now directly owns 1,319,284 shares in the company, valued at $15,805,022.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Phillip M. Miller sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total transaction of $46,515.00. Following the completion of the transaction, the director now owns 13,098 shares in the company, valued at $174,072.42. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Institutional Trading of Pebblebrook Hotel Trust

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP grew its holdings in shares of Pebblebrook Hotel Trust by 2,376.9% in the 2nd quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 4,326 shares during the last quarter. Algert Global LLC acquired a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter valued at about $167,000. The Manufacturers Life Insurance Company lifted its stake in shares of Pebblebrook Hotel Trust by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 65,587 shares of the real estate investment trust’s stock worth $902,000 after buying an additional 2,407 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Pebblebrook Hotel Trust by 38.1% in the second 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 purchasing an additional 541,573 shares during the last quarter. Finally, Earnest Partners LLC increased its position in Pebblebrook Hotel Trust by 1.0% in the 2nd quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock worth $69,247,000 after buying an additional 51,677 shares during the period.

Pebblebrook Hotel Trust Stock Down 2.4 %

PEB stock opened at $13.96 on Tuesday. Pebblebrook Hotel Trust has a twelve month low of $11.39 and a twelve month high of $16.65. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.68 billion, a P/E ratio of -13.69, a PEG ratio of 0.61 and a beta of 1.84. The company’s 50 day moving average is $13.09 and its two-hundred day moving average is $14.05.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.42). Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. The firm had revenue of $397.11 million during the quarter, compared to analyst estimates of $396.29 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts expect that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Monday, September 30th. Pebblebrook Hotel Trust’s payout ratio is -3.92%.

Pebblebrook Hotel Trust Company Profile

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.