Truist Financial Trims Pebblebrook Hotel Trust (NYSE:PEB) Target Price to $15.00

Pebblebrook Hotel Trust (NYSE:PEBFree Report) had its price objective trimmed by Truist Financial from $16.00 to $15.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

PEB has been the subject of several other research reports. Compass Point reaffirmed a neutral rating and set a $17.00 target price on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. StockNews.com lowered Pebblebrook Hotel Trust from a hold rating to a sell rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $14.56.

View Our Latest Stock Analysis on Pebblebrook Hotel Trust

Pebblebrook Hotel Trust Stock Performance

PEB stock opened at $14.15 on Thursday. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $14.88 and its 200 day simple moving average is $15.03. The firm has a market cap of $1.71 billion, a P/E ratio of -13.87, a P/E/G ratio of 0.62 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEBGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.48). Pebblebrook Hotel Trust had a negative return on equity of 2.88% and a negative net margin of 5.84%. The business had revenue of $314.10 million during the quarter, compared to the consensus estimate of $304.34 million. During the same period in the previous year, the company posted $0.18 EPS. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.28%. The ex-dividend date was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -3.92%.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 17,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $13.67 per share, with a total value of $232,390.00. Following the purchase, the chief executive officer now owns 1,208,284 shares in the company, valued at $16,517,242.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PEB. William Blair Investment Management LLC raised its stake in shares of Pebblebrook Hotel Trust by 49.8% during the 3rd quarter. William Blair Investment Management LLC now owns 3,656,930 shares of the real estate investment trust’s stock worth $49,698,000 after purchasing an additional 1,215,683 shares in the last quarter. Norges Bank purchased a new stake in shares of Pebblebrook Hotel Trust during the 4th quarter worth about $8,798,000. Envestnet Asset Management Inc. raised its stake in shares of Pebblebrook Hotel Trust by 81.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 582,908 shares of the real estate investment trust’s stock worth $7,922,000 after purchasing an additional 262,200 shares in the last quarter. Phocas Financial Corp. raised its stake in shares of Pebblebrook Hotel Trust by 437.3% during the 4th quarter. Phocas Financial Corp. now owns 220,570 shares of the real estate investment trust’s stock worth $3,525,000 after purchasing an additional 179,518 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of Pebblebrook Hotel Trust by 241.7% in the 4th quarter. Jump Financial LLC now owns 234,076 shares of the real estate investment trust’s stock valued at $3,741,000 after acquiring an additional 165,576 shares in the last quarter.

About Pebblebrook Hotel Trust

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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.

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Analyst Recommendations for Pebblebrook Hotel Trust (NYSE:PEB)

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