Pebblebrook Hotel Trust (NYSE:PEB) Price Target Raised to $20.00

Pebblebrook Hotel Trust (NYSE:PEB) had its price target hoisted by Wells Fargo & Company from $19.00 to $20.00 in a report published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Several other analysts also recently issued reports on PEB. Zacks Research raised Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Morgan Stanley boosted their price target on Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the company an “underweight” rating in a report on Thursday, October 22nd. LADENBURG THALM/SH SH upped their price objective on Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Truist Financial increased their price objective on Pebblebrook Hotel Trust from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded Pebblebrook Hotel Trust from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and an average price target of $18.27.

Pebblebrook Hotel Trust Stock Up 0.5%

Shares of PEB stock opened at $21.43 on Monday. The firm has a fifty day moving average of $18.85 and a 200-day moving average of $15.97. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.83. Pebblebrook Hotel Trust has a 12-month low of $9.99 and a 12-month high of $21.53. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -31.05, a P/E/G ratio of 1.38 and a beta of 1.43.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.56. The business had revenue of $407.14 million for the quarter, compared to analyst estimates of $400.05 million. Pebblebrook Hotel Trust had a negative net margin of 3.11% and a negative return on equity of 1.83%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. As a group, equities research analysts predict that Pebblebrook Hotel Trust will post 1.74 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 Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Pebblebrook Hotel Trust’s payout ratio is currently -5.80%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PEB. State of Wyoming grew its position in Pebblebrook Hotel Trust by 26.6% in the third quarter. State of Wyoming now owns 46,238 shares of the real estate investment trust’s stock valued at $867,000 after purchasing an additional 9,713 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Pebblebrook Hotel Trust by 3.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 155,288 shares of the real estate investment trust’s stock worth $2,913,000 after buying an additional 5,223 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Pebblebrook Hotel Trust by 23.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,282 shares of the real estate investment trust’s stock worth $118,000 after buying an additional 1,185 shares in the last quarter. GAMMA Investing LLC lifted its position in Pebblebrook Hotel Trust by 25.2% during the 3rd quarter. GAMMA Investing LLC now owns 14,874 shares of the real estate investment trust’s stock worth $279,000 after buying an additional 2,998 shares in the last quarter. Finally, Cim Investment Management Inc. boosted its stake in shares of Pebblebrook Hotel Trust by 7.3% during the 2nd quarter. Cim Investment Management Inc. now owns 13,180 shares of the real estate investment trust’s stock worth $256,000 after buying an additional 893 shares during the last quarter.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust (NYSE:PEB) is a publicly traded real estate investment trust that owns and invests in upscale, full-service hotels and resorts in the United States. The company focuses on acquiring, developing, and repositioning lodging properties in major urban and resort destinations.

Its portfolio includes hotels operating under a variety of national, regional, and independent brands. Pebblebrook generally owns the underlying real estate while hotels are operated through management agreements, providing lodging accommodations, food and beverage services, meeting and event facilities, and other guest amenities.

Founded in 2009, Pebblebrook Hotel Trust has emphasized properties in markets with strong tourism, business travel, and cultural or recreational appeal.