Pebblebrook Hotel Trust (NYSE:PEB) Lowered to Underperform Rating by Wedbush

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

PEB has been the topic of several other reports. Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and raised their target price for the stock from $14.75 to $15.00 in a report on Friday, November 22nd. Truist Financial lowered their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Wells Fargo & Company upped their target price on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Finally, Compass Point raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Pebblebrook Hotel Trust currently has an average rating of “Hold” and a consensus price target of $14.64.

Pebblebrook Hotel Trust Trading Up 1.4 %

PEB stock opened at $13.45 on Thursday. Pebblebrook Hotel Trust has a 52 week low of $11.65 and a 52 week high of $16.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50-day simple moving average is $13.44 and its 200 day simple moving average is $13.22. The company has a market capitalization of $1.61 billion, a PE ratio of -46.38, a price-to-earnings-growth ratio of 0.69 and a beta of 1.86.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 0.30%. The ex-dividend date is Tuesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio is presently -13.79%.

Insiders Place Their Bets

In related news, CEO Jon E. Bortz bought 13,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average price of $12.68 per share, with a total value of $164,840.00. Following the completion of the purchase, the chief executive officer now owns 1,395,284 shares in the company, valued at $17,692,201.12. This represents a 0.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through 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 value of $235,070.00. Following the completion of the transaction, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Institutional Trading of Pebblebrook Hotel Trust

Several hedge funds and other institutional investors have recently made changes to their positions in PEB. Geode Capital Management LLC raised its holdings in Pebblebrook Hotel Trust by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust’s stock valued at $40,272,000 after buying an additional 28,871 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Pebblebrook Hotel Trust by 0.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 191,009 shares of the real estate investment trust’s stock valued at $2,527,000 after acquiring an additional 1,402 shares during the period. Stifel Financial Corp raised its stake in shares of Pebblebrook Hotel Trust by 11.3% during the third quarter. Stifel Financial Corp now owns 25,302 shares of the real estate investment trust’s stock valued at $335,000 after acquiring an additional 2,575 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Pebblebrook Hotel Trust during the third quarter worth $185,000. Finally, Heitman Real Estate Securities LLC grew its stake in shares of Pebblebrook Hotel Trust by 4.7% in the third quarter. Heitman Real Estate Securities LLC now owns 89,527 shares of the real estate investment trust’s stock worth $1,184,000 after purchasing an additional 4,033 shares during 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.