Pebblebrook Hotel Trust (NYSE:PEB) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Separately, Truist Financial dropped their price target on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating for the company in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Pebblebrook Hotel Trust has an average rating of Hold and a consensus target price of $14.42.

Pebblebrook Hotel Trust Stock Performance

NYSE:PEB opened at $12.41 on Thursday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -12.17, a PEG ratio of 0.62 and a beta of 1.84. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65. The stock’s 50 day simple moving average is $13.08 and its two-hundred day simple moving average is $14.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.71.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.42). Pebblebrook Hotel Trust had a negative return on equity of 3.40% and a negative net margin of 6.75%. The business had revenue of $397.11 million during the quarter, compared to the consensus estimate of $396.29 million. During the same quarter in the prior year, the firm posted $0.62 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts anticipate that Pebblebrook Hotel Trust will post 1.53 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Friday, June 28th. Pebblebrook Hotel Trust’s payout ratio is currently -3.92%.

Insider Activity

In related news, Director Phillip M. Miller sold 3,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Jon E. Bortz bought 22,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of $12.21 per share, for a total transaction of $268,620.00. Following the purchase, the chief executive officer now directly owns 1,341,284 shares of the company’s stock, valued at $16,377,077.64. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Phillip M. Miller sold 3,500 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total transaction of $46,515.00. Following the sale, the director now directly owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of Pebblebrook Hotel Trust by 350.3% during the first quarter. SG Americas Securities LLC now owns 56,913 shares of the real estate investment trust’s stock valued at $877,000 after buying an additional 44,273 shares during the period. Nomura Holdings Inc. increased its position in Pebblebrook Hotel Trust by 44.3% during the 4th quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock valued at $8,201,000 after purchasing an additional 157,637 shares during the period. Norges Bank bought a new stake in shares of Pebblebrook Hotel Trust in the 4th quarter valued at about $8,798,000. Connable Office Inc. lifted its position in shares of Pebblebrook Hotel Trust by 5.3% in the 4th quarter. Connable Office Inc. now owns 28,842 shares of the real estate investment trust’s stock worth $461,000 after purchasing an additional 1,443 shares during the period. Finally, Jump Financial LLC boosted its stake in shares of Pebblebrook Hotel Trust by 241.7% during the fourth quarter. Jump Financial LLC now owns 234,076 shares of the real estate investment trust’s stock valued at $3,741,000 after purchasing an additional 165,576 shares in 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.