Pebblebrook Hotel Trust (NYSE:PEB) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a hold rating to a sell rating in a research note released on Monday.

Other research analysts also recently issued reports about the company. Wells Fargo & Company lowered their price target on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an equal weight rating on the stock in a report on Friday. Truist Financial lowered their target price on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating on the stock in a research note on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $13.92.

Pebblebrook Hotel Trust Stock Down 0.5 %

NYSE:PEB opened at $12.90 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $1.55 billion, a P/E ratio of -12.65, a P/E/G ratio of 0.60 and a beta of 1.84. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65. The firm has a 50-day simple moving average of $13.03 and a two-hundred day simple moving average of $14.14.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.42). The firm had revenue of $397.11 million for the quarter, compared to the consensus estimate of $396.29 million. Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. Pebblebrook Hotel Trust’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. Analysts predict that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is -3.92%.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 66,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $11.98 per share, with a total value of $790,680.00. Following the transaction, the chief executive officer now directly owns 1,319,284 shares of the company’s stock, valued at $15,805,022.32. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Phillip M. Miller sold 3,500 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total value of $46,515.00. Following the transaction, the director now directly owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jon E. Bortz bought 66,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $11.98 per share, for a total transaction of $790,680.00. Following the completion of the transaction, the chief executive officer now directly owns 1,319,284 shares of the company’s stock, valued at approximately $15,805,022.32. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

Institutional Trading of Pebblebrook Hotel Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of PEB. Bank of Montreal Can grew its stake in shares of Pebblebrook Hotel Trust by 68.1% during the 2nd quarter. Bank of Montreal Can now owns 1,875,288 shares of the real estate investment trust’s stock valued at $25,841,000 after acquiring an additional 759,964 shares during the period. Norges Bank purchased a new position in Pebblebrook Hotel Trust during the fourth quarter valued at approximately $8,798,000. D. E. Shaw & Co. Inc. boosted its position 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 purchasing an additional 541,573 shares during the period. Nomura Holdings Inc. increased its stake in shares of Pebblebrook Hotel Trust by 44.3% in the fourth quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock worth $8,201,000 after purchasing an additional 157,637 shares in the last quarter. Finally, Earnest Partners LLC increased its stake 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 purchasing an additional 51,677 shares in the last quarter.

Pebblebrook Hotel Trust Company Profile

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.