Wells Fargo & Company Lowers Pebblebrook Hotel Trust (NYSE:PEB) Price Target to $13.00

Pebblebrook Hotel Trust (NYSE:PEB) had its price target trimmed by Wells Fargo & Company from $15.00 to $13.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on PEB. StockNews.com raised shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a research note on Thursday, September 5th. Truist Financial lowered their price target 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 research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $13.92.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE:PEB opened at $12.97 on Friday. The company’s fifty day moving average is $13.04 and its two-hundred day moving average is $14.18. The company has a quick ratio of 0.71, a current 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 cap of $1.56 billion, a P/E ratio of -12.72, a price-to-earnings-growth ratio of 0.59 and a beta of 1.84.

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

Insider Activity

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $12.21 per share, for a total transaction of $268,620.00. Following the completion of the acquisition, the chief executive officer now owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $12.21 per share, for a total transaction of $268,620.00. Following the completion of the acquisition, the chief executive officer now owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip M. Miller sold 3,500 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total transaction 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. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

A number of hedge funds have recently bought and sold shares of PEB. Quarry LP boosted its holdings in 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 acquiring an additional 4,326 shares during the period. Principal Securities Inc. bought a new stake in Pebblebrook Hotel Trust during the fourth quarter valued at about $64,000. Blue Trust Inc. boosted its holdings 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 acquiring an additional 9,740 shares during the period. Quest Partners LLC bought a new stake in Pebblebrook Hotel Trust during the fourth quarter valued at about $157,000. Finally, Algert Global LLC bought a new stake in Pebblebrook Hotel Trust during the second quarter valued at about $167,000.

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.