Pebblebrook Hotel Trust (NYSE:PEB) PT Lowered to $13.00

Pebblebrook Hotel Trust (NYSE:PEB) had its target price reduced by equities researchers at Wells Fargo & Company from $15.00 to $13.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential upside of 0.23% from the stock’s previous close.

PEB has been the subject of several other research reports. StockNews.com raised Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. Truist Financial reduced their target price on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, Pebblebrook Hotel Trust has a consensus rating of “Hold” and an average price target of $13.92.

Pebblebrook Hotel Trust Stock Performance

NYSE PEB opened at $12.97 on Friday. The firm’s fifty day moving average price is $13.04 and its two-hundred day moving average price is $14.17. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65. The firm has a market capitalization of $1.56 billion, a P/E ratio of -12.72, a price-to-earnings-growth ratio of 0.59 and a beta of 1.84. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.42). Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. The firm had revenue of $397.11 million during the quarter, compared to the consensus estimate of $396.29 million. During the same period in the previous year, the company posted $0.62 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that Pebblebrook Hotel Trust will post 1.51 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Pebblebrook Hotel Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Earnest Partners LLC grew its holdings in shares of Pebblebrook Hotel Trust by 1.0% during the 2nd quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock worth $69,247,000 after purchasing an additional 51,677 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Pebblebrook Hotel Trust by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,206,660 shares of the real estate investment trust’s stock worth $35,262,000 after purchasing an additional 18,325 shares during the period. D. E. Shaw & Co. Inc. grew its stake in Pebblebrook Hotel Trust by 38.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock worth $26,997,000 after buying an additional 541,573 shares in the last quarter. Bank of Montreal Can increased its holdings in Pebblebrook Hotel Trust by 68.1% in the 2nd 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 buying an additional 759,964 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Pebblebrook Hotel Trust by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,747,195 shares of the real estate investment trust’s stock valued at $24,023,000 after buying an additional 41,659 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.