Pebblebrook Hotel Trust (NYSE:PEB) Given New $14.00 Price Target at Wells Fargo & Company

Pebblebrook Hotel Trust (NYSE:PEB) had its price target boosted by Wells Fargo & Company from $13.00 to $14.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently weighed in on PEB. Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their price objective for the company from $14.75 to $15.00 in a research report on Friday, November 22nd. StockNews.com lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Robert W. Baird cut their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Compass Point raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Thursday, November 21st. Finally, Truist Financial decreased their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Two research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.58.

Pebblebrook Hotel Trust Price Performance

PEB stock opened at $13.88 on Tuesday. The firm has a market cap of $1.66 billion, a P/E ratio of -47.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.85. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. Pebblebrook Hotel Trust has a 1 year low of $11.65 and a 1 year high of $16.65. The stock has a 50-day simple moving average of $12.88 and a 200-day simple moving average of $13.26.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.29%. Pebblebrook Hotel Trust’s payout ratio is presently -13.79%.

Insider Activity

In other news, CEO Jon E. Bortz acquired 13,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $12.68 per share, with a total value of $164,840.00. Following the completion of the transaction, the chief executive officer now owns 1,395,284 shares in the company, 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 filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jon E. Bortz sold 11,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,349,284 shares of the company’s stock, valued at approximately $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 company insiders.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Earnest Partners LLC lifted its position in shares of Pebblebrook Hotel Trust by 1.0% during the 2nd quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock worth $69,247,000 after purchasing an additional 51,677 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $40,272,000 after buying an additional 28,871 shares during the period. Charles Schwab Investment Management Inc. increased its position in Pebblebrook Hotel Trust by 5.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,418,159 shares of the real estate investment trust’s stock worth $31,992,000 after buying an additional 130,265 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 38.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock worth $26,997,000 after buying an additional 541,573 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Pebblebrook Hotel Trust by 68.1% in the second quarter. Bank of Montreal Can now owns 1,875,288 shares of the real estate investment trust’s stock valued at $25,841,000 after acquiring an additional 759,964 shares during the period.

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.