Pebblebrook Hotel Trust (NYSE:PEB) Upgraded to “Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a hold rating to a buy rating in a research report report published on Friday, MarketBeat Ratings reports. They currently have $15.00 target price on the real estate investment trust’s stock, up from their prior target price of $14.75.

Several other brokerages also recently weighed in on PEB. StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Truist Financial lowered their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Robert W. Baird reduced their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a 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 target price on the stock in a research note on Thursday. Finally, Wells Fargo & Company dropped their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.42.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE:PEB opened at $13.51 on Friday. The firm’s 50 day moving average is $12.85 and its two-hundred day moving average is $13.28. The firm has a market capitalization of $1.62 billion, a P/E ratio of -46.58, a PEG ratio of 0.62 and a beta of 1.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 52 week low of $11.65 and a 52 week high of $16.65.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -13.79%.

Insider Activity

In other news, CEO Jon E. Bortz sold 11,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $21.37, for a total transaction of $235,070.00. Following the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon E. Bortz bought 13,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of $12.68 per share, with a total value of $164,840.00. Following the completion of the acquisition, the chief executive officer now owns 1,395,284 shares of the company’s stock, valued at $17,692,201.12. The trade was a 0.94 % 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 Trading of Pebblebrook Hotel Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Earnest Partners LLC increased its position in shares of Pebblebrook Hotel Trust by 1.0% in the second quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock worth $69,247,000 after acquiring an additional 51,677 shares in the last quarter. Geode Capital Management LLC grew its position in Pebblebrook Hotel Trust by 1.0% during 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 purchasing an additional 28,871 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Pebblebrook Hotel Trust by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,418,159 shares of the real estate investment trust’s stock valued at $31,992,000 after purchasing 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% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock valued at $26,997,000 after purchasing an additional 541,573 shares in 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 worth $25,841,000 after buying 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.