Pebblebrook Hotel Trust (NYSE:PEB) Plans $0.01 Quarterly Dividend

Pebblebrook Hotel Trust (NYSE:PEB) announced a quarterly dividend on Monday, December 16th,NASDAQ Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.01 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Tuesday, December 31st.

Pebblebrook Hotel Trust has raised its dividend payment by an average of 58.7% annually over the last three years. Pebblebrook Hotel Trust has a payout ratio of -10.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Pebblebrook Hotel Trust to earn $1.56 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.6%.

Pebblebrook Hotel Trust Trading Down 2.0 %

Pebblebrook Hotel Trust stock opened at $13.58 on Friday. Pebblebrook Hotel Trust has a 52-week low of $11.65 and a 52-week high of $16.65. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -46.83, a PEG ratio of 0.69 and a beta of 1.87. The firm has a 50-day moving average price of $13.32 and a two-hundred day moving average price of $13.24.

Insider Activity at Pebblebrook Hotel Trust

In related news, CEO Jon E. Bortz bought 13,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 1,395,284 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon E. Bortz sold 11,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 1,349,284 shares of the company’s stock, valued at approximately $28,834,199.08. This represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PEB shares. Robert W. Baird reduced their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.75 to $15.00 in a research note on Friday, November 22nd. Compass Point upgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Thursday, November 21st. Truist Financial lowered their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Finally, StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.92.

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.