Pebblebrook Hotel Trust (NYSE:PEB) Shares Gap Up – Here’s What Happened

Pebblebrook Hotel Trust (NYSE:PEB) gapped up prior to trading on Thursday . The stock had previously closed at $11.75, but opened at $12.55. Pebblebrook Hotel Trust shares last traded at $12.29, with a volume of 605,253 shares traded.

Analyst Ratings Changes

PEB has been the subject of a number of analyst reports. Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.75 to $15.00 in a research note on Friday, November 22nd. Raymond James set a $14.00 target price on shares of Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research note on Thursday. Compass Point raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, November 21st. Truist Financial cut their target price on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company cut their target price on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.14.

Pebblebrook Hotel Trust Stock Up 0.7 %

The firm has a market capitalization of $1.48 billion, a PE ratio of -42.58, a PEG ratio of 0.60 and a beta of 1.85. The business’s 50 day simple moving average is $13.06 and its 200 day simple moving average is $13.11. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. Pebblebrook Hotel Trust’s payout ratio is currently -13.79%.

Hedge Funds Weigh In On Pebblebrook Hotel Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in shares of Pebblebrook Hotel Trust in the 4th quarter worth about $30,000. Quadrant Capital Group LLC lifted its holdings in shares of Pebblebrook Hotel Trust by 100.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,644 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 1,323 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Pebblebrook Hotel Trust by 815.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,763 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 3,352 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Pebblebrook Hotel Trust by 80.1% in the 3rd quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,989 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Pebblebrook Hotel Trust by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 1,212 shares during 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.