Wedbush Downgrades Pebblebrook Hotel Trust (NYSE:PEB) to Underperform

Pebblebrook Hotel Trust (NYSE:PEB) was downgraded by stock analysts at Wedbush from a “neutral” rating to an “underperform” rating in a research report issued on Thursday, Marketbeat.com reports. They currently have a $13.00 target price on the real estate investment trust’s stock. Wedbush’s target price indicates a potential downside of 3.35% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company boosted their target price on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Truist Financial cut their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $14.75 to $15.00 in a report on Friday, November 22nd. Finally, Robert W. Baird lowered their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and a consensus price target of $14.64.

Pebblebrook Hotel Trust Price Performance

Pebblebrook Hotel Trust stock opened at $13.45 on Thursday. The business’s fifty day moving average is $13.44 and its two-hundred day moving average is $13.22. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $1.61 billion, a P/E ratio of -46.38, a P/E/G ratio of 0.69 and a beta of 1.86. Pebblebrook Hotel Trust has a 52 week low of $11.65 and a 52 week high of $16.65.

Insider Activity

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 13,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of $12.68 per share, with a total value of $164,840.00. Following the purchase, the chief executive officer now owns 1,395,284 shares in the company, valued at $17,692,201.12. This trade represents a 0.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon E. Bortz sold 11,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $21.37, for a total transaction of $235,070.00. Following the completion of the transaction, the chief executive officer now directly owns 1,349,284 shares in the company, valued at approximately $28,834,199.08. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

Several large investors have recently made changes to their positions in PEB. Van ECK Associates Corp lifted its position in Pebblebrook Hotel Trust by 7.1% in the 2nd quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 1,215 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Pebblebrook Hotel Trust by 166.1% in the 2nd quarter. Victory Capital Management Inc. now owns 80,444 shares of the real estate investment trust’s stock valued at $1,106,000 after purchasing an additional 50,210 shares during the period. Choreo LLC bought a new stake in shares of Pebblebrook Hotel Trust in the second quarter valued at about $603,000. DekaBank Deutsche Girozentrale boosted its position in shares of Pebblebrook Hotel Trust by 22.1% during the second quarter. DekaBank Deutsche Girozentrale now owns 35,379 shares of the real estate investment trust’s stock worth $470,000 after buying an additional 6,393 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Pebblebrook Hotel Trust by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 580,423 shares of the real estate investment trust’s stock worth $7,981,000 after buying an additional 12,155 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.