Pebblebrook Hotel Trust (NYSE:PEB) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a sell rating to a hold rating in a report released on Tuesday morning.

Separately, Truist Financial cut their price objective on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating for the company in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $14.42.

Pebblebrook Hotel Trust Stock Up 1.7 %

Shares of PEB opened at $13.20 on Tuesday. The business’s 50 day moving average is $13.24 and its 200 day moving average is $14.49. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65. The company has a market capitalization of $1.59 billion, a PE ratio of -12.94, a price-to-earnings-growth ratio of 0.59 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.42). The company had revenue of $397.11 million for the quarter, compared to analysts’ expectations of $396.29 million. Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. Research analysts expect that Pebblebrook Hotel Trust will post 1.53 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.01 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. Pebblebrook Hotel Trust’s payout ratio is currently -3.92%.

Insider Activity

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 17,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of $13.67 per share, with a total value of $232,390.00. Following the acquisition, the chief executive officer now owns 1,208,284 shares in the company, valued at $16,517,242.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jon E. Bortz bought 17,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average price of $13.67 per share, with a total value of $232,390.00. Following the transaction, the chief executive officer now owns 1,208,284 shares in the company, valued at approximately $16,517,242.28. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jon E. Bortz purchased 66,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $11.98 per share, with a total value of $790,680.00. Following the completion of the transaction, the chief executive officer now owns 1,319,284 shares of the company’s stock, valued at $15,805,022.32. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 105,000 shares of company stock worth $1,291,690. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pebblebrook Hotel Trust

A number of large investors have recently made changes to their positions in PEB. Bank of Montreal Can raised its position in Pebblebrook Hotel Trust by 68.1% in the 2nd quarter. Bank of Montreal Can now owns 1,875,288 shares of the real estate investment trust’s stock worth $25,841,000 after purchasing an additional 759,964 shares during the period. Norges Bank bought a new position in shares of Pebblebrook Hotel Trust during the fourth quarter valued at approximately $8,798,000. D. E. Shaw & Co. Inc. raised 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 worth $26,997,000 after buying an additional 541,573 shares during the period. Jump Financial LLC lifted its stake in shares of Pebblebrook Hotel Trust by 241.7% during the 4th quarter. Jump Financial LLC now owns 234,076 shares of the real estate investment trust’s stock worth $3,741,000 after acquiring an additional 165,576 shares during the last quarter. Finally, Nomura Holdings Inc. boosted its holdings in Pebblebrook Hotel Trust by 44.3% during the 4th quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock valued at $8,201,000 after acquiring an additional 157,637 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.