Pebblebrook Hotel Trust (NYSE:PEB) Cut to Underperform at Wedbush

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

PEB has been the topic of a number of other research reports. Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their target price for the company from $14.75 to $15.00 in a research note on Friday, November 22nd. Robert W. Baird lowered their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Compass Point raised Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Thursday, November 21st. Truist Financial decreased their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, Wells Fargo & Company lifted their price target on shares of Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Three research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.64.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE PEB opened at $13.45 on Thursday. The company has a market cap of $1.61 billion, a P/E ratio of -46.38, a P/E/G ratio of 0.69 and a beta of 1.86. Pebblebrook Hotel Trust has a 12 month low of $11.65 and a 12 month high of $16.65. The business’s 50 day moving average is $13.44 and its two-hundred day moving average is $13.22. 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 Announces Dividend

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

Insider Buying and Selling

In other news, CEO Jon E. Bortz purchased 13,000 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of $12.68 per share, with a total value of $164,840.00. Following the completion of the transaction, the chief executive officer now owns 1,395,284 shares of the company’s stock, valued at $17,692,201.12. The trade was a 0.94 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 sale, the chief executive officer now directly owns 1,349,284 shares in the company, 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. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pebblebrook Hotel Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of PEB. Van ECK Associates Corp lifted its holdings in Pebblebrook Hotel Trust by 7.1% during the 2nd quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock valued at $251,000 after purchasing an additional 1,215 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 166.1% during the 2nd quarter. Victory Capital Management Inc. now owns 80,444 shares of the real estate investment trust’s stock worth $1,106,000 after buying an additional 50,210 shares during the last quarter. Choreo LLC bought a new stake in shares of Pebblebrook Hotel Trust during the 2nd quarter worth about $603,000. DekaBank Deutsche Girozentrale grew its stake in Pebblebrook Hotel Trust by 22.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 35,379 shares of the real estate investment trust’s stock valued at $470,000 after buying an additional 6,393 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Pebblebrook Hotel Trust by 2.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 580,423 shares of the real estate investment trust’s stock valued at $7,981,000 after acquiring an additional 12,155 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.