Pebblebrook Hotel Trust (NYSE:PEB) Stock Price Up 5.1% – Here’s Why

Shares of Pebblebrook Hotel Trust (NYSE:PEB) shot up 5.1% during trading on Tuesday . The company traded as high as $14.82 and last traded at $14.62. 516,606 shares traded hands during trading, a decline of 69% from the average session volume of 1,673,166 shares. The stock had previously closed at $13.91.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PEB shares. Truist Financial decreased their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Compass Point raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, November 21st. Robert W. Baird decreased their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company upped their target price on shares of Pebblebrook Hotel Trust from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 26th. Finally, Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their target price for the stock from $14.75 to $15.00 in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.58.

Pebblebrook Hotel Trust Stock Performance

The stock’s fifty day moving average price is $12.91 and its 200 day moving average price is $13.24. 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 declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Monday, September 30th. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Insider Activity

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 13,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of $12.68 per share, with a total value of $164,840.00. Following the purchase, the chief executive officer now owns 1,395,284 shares of the company’s stock, valued at approximately $17,692,201.12. This trade represents a 0.94 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jon E. Bortz sold 11,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were 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 of the company’s stock, valued at $28,834,199.08. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

Several institutional investors have recently added to or reduced their stakes in PEB. Blue Trust Inc. boosted its position in Pebblebrook Hotel Trust by 707.8% during the 2nd quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 9,740 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Pebblebrook Hotel Trust by 0.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 135,174 shares of the real estate investment trust’s stock valued at $1,859,000 after buying an additional 916 shares during the period. Louisiana State Employees Retirement System boosted its position in Pebblebrook Hotel Trust by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the real estate investment trust’s stock valued at $833,000 after buying an additional 900 shares during the period. Van ECK Associates Corp boosted its position 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 buying an additional 1,215 shares during the period. Finally, Victory Capital Management Inc. boosted its position in 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 valued at $1,106,000 after buying an additional 50,210 shares during the period.

Pebblebrook Hotel Trust Company Profile

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.