Pebblebrook Hotel Trust (NYSE:PEB) Price Target Lowered to $13.00 at Wells Fargo & Company

Pebblebrook Hotel Trust (NYSE:PEB) had its price target lowered by Wells Fargo & Company from $16.00 to $13.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Compass Point raised 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 report on Thursday, November 21st. Wedbush downgraded Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price objective for the company. in a research report on Thursday, January 2nd. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their target price for the stock from $14.75 to $15.00 in a report on Friday, November 22nd. Finally, Truist Financial cut their price target on Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.17.

Pebblebrook Hotel Trust Price Performance

NYSE PEB opened at $12.66 on Tuesday. Pebblebrook Hotel Trust has a 1 year low of $11.65 and a 1 year high of $16.65. The company has a market cap of $1.51 billion, a P/E ratio of -43.64, a P/E/G ratio of 0.62 and a beta of 1.85. The company has a fifty day simple moving average of $13.45 and a 200 day simple moving average of $13.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Tuesday, December 31st. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Insider Activity at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz acquired 13,000 shares of the stock in a transaction on 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 transaction, 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pebblebrook Hotel Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Centersquare Investment Management LLC boosted its stake in Pebblebrook Hotel Trust by 2,448.9% in the fourth quarter. Centersquare Investment Management LLC now owns 1,879,327 shares of the real estate investment trust’s stock valued at $25,465,000 after buying an additional 1,805,597 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in Pebblebrook Hotel Trust by 43.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,167,770 shares of the real estate investment trust’s stock worth $56,473,000 after buying an additional 1,260,077 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Pebblebrook Hotel Trust by 82.3% during the fourth quarter. Nuveen Asset Management LLC now owns 2,345,333 shares of the real estate investment trust’s stock valued at $31,779,000 after acquiring an additional 1,058,664 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC acquired a new stake in Pebblebrook Hotel Trust during the 4th quarter worth about $13,788,000. Finally, Landmark Investment Partners L.P. bought a new position in shares of Pebblebrook Hotel Trust in the 4th quarter worth about $13,075,000.

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.