Wedbush Downgrades Pebblebrook Hotel Trust (NYSE:PEB) to Underperform

Wedbush cut shares of Pebblebrook Hotel Trust (NYSE:PEB) from a neutral rating to an underperform rating in a research note published on Thursday morning, MarketBeat Ratings reports. The firm currently has $13.00 price target on the real estate investment trust’s stock.

Several other analysts also recently issued reports on the company. Truist Financial cut their price objective 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 cut their price target on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $14.75 to $15.00 in a research report on Friday, November 22nd. Finally, Compass Point upgraded Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a report on Thursday, November 21st. Three 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.64.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE PEB opened at $13.27 on Thursday. Pebblebrook Hotel Trust has a 52-week low of $11.65 and a 52-week high of $16.65. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -45.76, a PEG ratio of 0.69 and a beta of 1.87. 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 stock’s fifty day simple moving average is $13.41 and its 200 day simple moving average is $13.23.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.01 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 13,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was 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. The trade was a 0.94 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon E. Bortz sold 11,000 shares of the 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 transaction, the chief executive officer now owns 1,349,284 shares in the company, valued at approximately $28,834,199.08. This trade represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

A number of large investors have recently bought and sold shares of the business. Covestor Ltd boosted its holdings in shares of Pebblebrook Hotel Trust by 80.1% during the 3rd quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 1,989 shares during the period. Quarry LP raised its position in shares of Pebblebrook Hotel Trust by 2,376.9% during the second 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Pebblebrook Hotel Trust by 35.0% in the third 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. FMR LLC lifted its stake in shares of Pebblebrook Hotel Trust by 10.8% in the third quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 884 shares during the period. Finally, FORA Capital LLC acquired a new stake in Pebblebrook Hotel Trust during the third quarter worth about $133,000.

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.