Pebblebrook Hotel Trust (NYSE:PEB) Price Target Cut to $14.00 by Analysts at Robert W. Baird

Pebblebrook Hotel Trust (NYSE:PEB) had its price target trimmed by Robert W. Baird from $15.00 to $14.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the company. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Wells Fargo & Company reduced 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 note on Friday, September 13th. Finally, Truist Financial dropped 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. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, Pebblebrook Hotel Trust has a consensus rating of “Hold” and a consensus price target of $13.75.

Pebblebrook Hotel Trust Trading Up 0.9 %

PEB stock traded up $0.11 during midday trading on Thursday, hitting $12.09. The stock had a trading volume of 195,886 shares, compared to its average volume of 1,670,801. The company’s 50-day moving average price is $12.94 and its 200 day moving average price is $13.53. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65. The firm has a market cap of $1.46 billion, a PE ratio of -10.93, a price-to-earnings-growth ratio of 0.59 and a beta of 1.84. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.71.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, September 30th. Pebblebrook Hotel Trust’s payout ratio is currently -3.64%.

Insider Transactions at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 22,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price 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. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 22,000 shares of the stock in a transaction dated 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 purchase, the chief executive officer now directly owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon E. Bortz bought 66,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $11.98 per share, for a total transaction of $790,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

Several institutional investors and hedge funds have recently modified their holdings of PEB. Asset Management One Co. Ltd. boosted its position in Pebblebrook Hotel Trust by 0.5% during the third quarter. Asset Management One Co. Ltd. now owns 174,841 shares of the real estate investment trust’s stock worth $2,313,000 after purchasing an additional 866 shares during the period. Van ECK Associates Corp boosted its stake in Pebblebrook Hotel Trust by 12.3% during the third quarter. Van ECK Associates Corp now owns 20,523 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 2,253 shares in the last quarter. abrdn plc increased its holdings in Pebblebrook Hotel Trust by 10.2% in the 3rd quarter. abrdn plc now owns 24,579 shares of the real estate investment trust’s stock valued at $325,000 after buying an additional 2,281 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Pebblebrook Hotel Trust by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 1,212 shares during the period. Finally, Quarry LP raised its stake in shares of Pebblebrook Hotel Trust by 2,376.9% in the 2nd quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 4,326 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.