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 research note published on Sunday morning.

Separately, 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 report on Thursday, May 30th. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $14.42.

Pebblebrook Hotel Trust Price Performance

NYSE:PEB traded down $0.24 during trading hours on Friday, hitting $12.22. 950,229 shares of the stock traded hands, compared to its average volume of 1,598,843. The stock has a 50 day moving average price of $13.52 and a 200 day moving average price of $14.68. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -12.02, a price-to-earnings-growth ratio of 0.58 and a beta of 1.84. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.42). The business 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 earnings per share. Sell-side analysts forecast that Pebblebrook Hotel Trust will post 1.51 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Friday, June 28th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -3.92%.

Insider Activity

In other news, CEO Jon E. Bortz purchased 17,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $13.67 per share, with a total value of $232,390.00. Following the purchase, 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 is available through the SEC website. In other news, CEO Jon E. Bortz purchased 17,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were acquired 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 of the company’s stock, valued at $16,517,242.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Phillip M. Miller sold 3,500 shares of Pebblebrook Hotel Trust stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total value of $46,515.00. Following the completion of the sale, the director now owns 13,098 shares of the company’s stock, valued at $174,072.42. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Pebblebrook Hotel Trust

A number of hedge funds and other institutional investors have recently modified their holdings of PEB. Principal Securities Inc. purchased a new stake in Pebblebrook Hotel Trust during the fourth quarter worth $64,000. Quest Partners LLC purchased a new stake in shares of Pebblebrook Hotel Trust during the 4th quarter worth $157,000. Blue Trust Inc. boosted its position in Pebblebrook Hotel Trust by 707.8% during the second quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 9,740 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Pebblebrook Hotel Trust in the fourth quarter valued at about $266,000. Finally, Van ECK Associates Corp raised its holdings in Pebblebrook Hotel Trust by 17.1% in the fourth quarter. Van ECK Associates Corp now owns 16,665 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 2,438 shares in the last quarter.

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.