Wells Fargo & Company Cuts Pebblebrook Hotel Trust (NYSE:PEB) Price Target to $13.00

Pebblebrook Hotel Trust (NYSE:PEB) had its target price reduced by Wells Fargo & Company from $15.00 to $13.00 in a report released on Friday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

PEB has been the topic of several other research reports. Truist Financial lowered their target price on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating on the stock in a research note on Thursday, May 30th. StockNews.com upgraded shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $13.92.

Pebblebrook Hotel Trust Price Performance

NYSE PEB opened at $12.97 on Friday. The company has a 50-day moving average price of $13.04 and a two-hundred day moving average price of $14.16. Pebblebrook Hotel Trust has a 52 week low of $11.39 and a 52 week high of $16.65. The stock has a market cap of $1.56 billion, a price-to-earnings 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 quarterly earnings data 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). The business had revenue of $397.11 million during the quarter, compared to the consensus estimate of $396.29 million. Pebblebrook Hotel Trust had a negative return on equity of 3.40% and a negative net margin of 6.75%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. Analysts forecast that Pebblebrook Hotel Trust will post 1.51 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jon E. Bortz purchased 66,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $11.98 per share, for a total transaction of $790,680.00. Following the transaction, the chief executive officer now owns 1,319,284 shares in the company, valued at $15,805,022.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 66,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $11.98 per share, with a total value of $790,680.00. Following the completion of the transaction, the chief executive officer now directly owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Phillip M. Miller sold 3,500 shares of the company’s stock in a transaction on 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 disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Pebblebrook Hotel Trust

A number of hedge funds have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its holdings in shares of Pebblebrook Hotel Trust by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the real estate investment trust’s stock worth $833,000 after acquiring an additional 900 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of 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 worth $1,859,000 after purchasing an additional 916 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of 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 worth $251,000 after purchasing an additional 1,215 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Pebblebrook Hotel Trust by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 105,462 shares of the real estate investment trust’s stock valued at $1,625,000 after buying an additional 1,413 shares during the last quarter. Finally, Connable Office Inc. grew its stake in shares of Pebblebrook Hotel Trust by 5.3% in the 4th quarter. Connable Office Inc. now owns 28,842 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 1,443 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.