Pebblebrook Hotel Trust (NYSE:PEB) Price Target Cut to $13.00 by Analysts at Wells Fargo & Company

Pebblebrook Hotel Trust (NYSE:PEB) had its target price reduced by investment analysts at Wells Fargo & Company from $15.00 to $13.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 0.23% from the company’s current price.

Several other research firms also recently weighed in on PEB. StockNews.com raised Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. Truist Financial cut their price target on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Two investment 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 an average price target of $13.92.

Pebblebrook Hotel Trust Stock Up 1.5 %

Shares of NYSE PEB opened at $12.97 on Friday. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -12.72, a PEG ratio of 0.59 and a beta of 1.84. The company has a current ratio of 0.71, a quick 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 stock has a 50-day moving average price of $13.04 and a two-hundred day moving average price of $14.17.

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

Insider Buying and Selling at Pebblebrook Hotel Trust

In other news, Director Phillip M. Miller sold 3,500 shares of the stock in a transaction dated Wednesday, June 26th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Jon E. Bortz acquired 22,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of $12.21 per share, with a total value of $268,620.00. Following the purchase, the chief executive officer now owns 1,341,284 shares in the company, valued at approximately $16,377,077.64. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Phillip M. Miller sold 3,500 shares of the 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 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. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Pebblebrook Hotel Trust

Institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its position in shares of Pebblebrook Hotel Trust by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the real estate investment trust’s stock worth $833,000 after acquiring an additional 900 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Pebblebrook Hotel Trust by 0.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 135,174 shares of the real estate investment trust’s stock worth $1,859,000 after purchasing an additional 916 shares during the period. Van ECK Associates Corp increased its holdings in Pebblebrook Hotel Trust by 7.1% in the second quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 1,215 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Pebblebrook Hotel Trust by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 105,462 shares of the real estate investment trust’s stock worth $1,625,000 after buying an additional 1,413 shares in the last quarter. Finally, Connable Office Inc. boosted its holdings in shares of Pebblebrook Hotel Trust by 5.3% during the 4th quarter. Connable Office Inc. now owns 28,842 shares of the real estate investment trust’s stock worth $461,000 after buying an additional 1,443 shares in the last quarter.

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.