Pebblebrook Hotel Trust (NYSE:PEB) Lowered to Underperform Rating by Wedbush

Wedbush cut shares of Pebblebrook Hotel Trust (NYSE:PEB) from a neutral rating to an underperform rating in a report released on Thursday, Marketbeat.com reports. Wedbush currently has $13.00 target price on the real estate investment trust’s stock.

Several other equities research analysts also recently weighed in on PEB. Compass Point raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Thursday, November 21st. Truist Financial lowered their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, October 28th. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and lifted their target price for the stock from $14.75 to $15.00 in a research report on Friday, November 22nd. Robert W. Baird dropped their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their price objective on shares of Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.64.

Pebblebrook Hotel Trust Stock Down 2.1 %

PEB stock opened at $13.27 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The firm has a 50 day simple moving average of $13.41 and a 200-day simple moving average of $13.23. The company has a market capitalization of $1.59 billion, a P/E ratio of -45.76, a PEG ratio of 0.69 and a beta of 1.87. Pebblebrook Hotel Trust has a twelve month low of $11.65 and a twelve month high of $16.65.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Tuesday, December 31st. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Insider Transactions at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz sold 11,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon E. Bortz acquired 13,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average price of $12.68 per share, for a total transaction of $164,840.00. Following the completion of the purchase, the chief executive officer now owns 1,395,284 shares of the company’s stock, valued at approximately $17,692,201.12. This represents a 0.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Pebblebrook Hotel Trust

Several large investors have recently bought and sold shares of the stock. Bank of Montreal Can boosted 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 acquiring an additional 759,964 shares in the last quarter. D. E. Shaw & Co. Inc. boosted 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 purchasing an additional 541,573 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 purchasing an additional 130,265 shares during the period. Atom Investors LP bought a new stake in shares of Pebblebrook Hotel Trust in the 3rd quarter worth $1,363,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Pebblebrook Hotel Trust by 47.4% in the third quarter. GSA Capital Partners LLP now owns 223,654 shares of the real estate investment trust’s stock valued at $2,959,000 after buying an additional 71,920 shares during the period.

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.