Pebblebrook Hotel Trust (NYSE:PEB) Sees Unusually-High Trading Volume

Shares of Pebblebrook Hotel Trust (NYSE:PEB) saw unusually-high trading volume on Friday . Approximately 4,125,753 shares were traded during trading, an increase of 150% from the previous session’s volume of 1,647,081 shares.The stock last traded at $13.71 and had previously closed at $13.56.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PEB shares. Wells Fargo & Company dropped their price objective on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Truist Financial dropped their price objective on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Finally, StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.92.

Pebblebrook Hotel Trust Stock Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -13.40, a P/E/G ratio of 0.66 and a beta of 1.84. The firm has a fifty day simple moving average of $13.07 and a two-hundred day simple moving average of $14.03.

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

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -3.92%.

Insider Transactions at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz acquired 22,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $12.21 per share, for a total transaction of $268,620.00. Following the completion of the purchase, the chief executive officer now directly owns 1,341,284 shares in the company, valued at approximately $16,377,077.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related 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 bought at an average cost of $11.98 per share, for a total transaction of $790,680.00. Following the completion of the transaction, the chief executive officer now owns 1,319,284 shares in the company, valued at $15,805,022.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jon E. Bortz purchased 22,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $12.21 per share, with a total value of $268,620.00. Following the completion of the transaction, the chief executive officer now owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Pebblebrook Hotel Trust

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in shares of Pebblebrook Hotel Trust by 350.3% in the first quarter. SG Americas Securities LLC now owns 56,913 shares of the real estate investment trust’s stock worth $877,000 after acquiring an additional 44,273 shares during the last quarter. Nomura Holdings Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 44.3% in the 4th quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock valued at $8,201,000 after purchasing an additional 157,637 shares during the last quarter. Norges Bank acquired a new position in shares of Pebblebrook Hotel Trust in the 4th quarter valued at $8,798,000. Hsbc Holdings PLC lifted its stake in shares of Pebblebrook Hotel Trust by 16.3% in the 4th quarter. Hsbc Holdings PLC now owns 62,039 shares of the real estate investment trust’s stock valued at $992,000 after purchasing an additional 8,702 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Pebblebrook Hotel Trust by 1.4% in 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 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.