Truist Financial Lowers Pebblebrook Hotel Trust (NYSE:PEB) Price Target to $13.00

Pebblebrook Hotel Trust (NYSE:PEB) had its target price dropped by investment analysts at Truist Financial from $14.00 to $13.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective would suggest a potential upside of 2.89% from the stock’s current price.

PEB has been the subject of a number of other research reports. Wells Fargo & Company increased their target price on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Compass Point upgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Thursday, November 21st. Robert W. Baird reduced their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.75 to $15.00 in a research note on Friday, November 22nd. Finally, StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.67.

Pebblebrook Hotel Trust Price Performance

PEB opened at $12.64 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 12 month low of $11.65 and a 12 month high of $16.65. The company has a fifty day simple moving average of $13.78 and a 200 day simple moving average of $13.21. The stock has a market cap of $1.51 billion, a P/E ratio of -43.57, a P/E/G ratio of 0.62 and a beta of 1.85.

Insider Activity

In related news, CEO Jon E. Bortz purchased 13,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was bought 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon E. Bortz sold 11,000 shares of the company’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 owns 1,349,284 shares of the company’s stock, valued at $28,834,199.08. This trade represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Pebblebrook Hotel Trust by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust’s stock worth $40,272,000 after purchasing an additional 28,871 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Pebblebrook Hotel Trust by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,418,159 shares of the real estate investment trust’s stock worth $31,992,000 after purchasing an additional 130,265 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Pebblebrook Hotel Trust by 4.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 950,475 shares of the real estate investment trust’s stock worth $12,575,000 after purchasing an additional 36,270 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Pebblebrook Hotel Trust by 90.2% in the fourth quarter. Nordea Investment Management AB now owns 746,763 shares of the real estate investment trust’s stock worth $10,193,000 after purchasing an additional 354,116 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Pebblebrook Hotel Trust by 5.9% in the fourth quarter. Fisher Asset Management LLC now owns 572,994 shares of the real estate investment trust’s stock worth $7,764,000 after purchasing an additional 31,677 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.