Pebblebrook Hotel Trust (NYSE:PEB – Get Free Report) was downgraded by stock analysts at Wedbush from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They presently have a $13.00 price objective on the real estate investment trust’s stock. Wedbush’s price target suggests a potential downside of 3.35% from the stock’s previous close.
Other research analysts have also issued research reports about the company. Wells Fargo & Company increased their price objective on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Truist Financial reduced their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $14.75 to $15.00 in a research note on Friday, November 22nd. Finally, 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 report on Thursday, November 21st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Pebblebrook Hotel Trust has an average rating of “Hold” and an average target price of $14.64.
Check Out Our Latest Analysis on Pebblebrook Hotel Trust
Pebblebrook Hotel Trust Trading Up 1.4 %
Insider Activity at Pebblebrook Hotel Trust
In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz sold 11,000 shares of Pebblebrook Hotel Trust stock in a transaction 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 sale, the chief executive officer now owns 1,349,284 shares in the company, valued at $28,834,199.08. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon E. Bortz acquired 13,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price 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 approximately $17,692,201.12. This represents a 0.94 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company’s stock.
Hedge Funds Weigh In On Pebblebrook Hotel Trust
Hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp grew its position 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 valued at $251,000 after acquiring an additional 1,215 shares during the period. Victory Capital Management Inc. boosted 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 in the last quarter. Choreo LLC acquired a new stake in shares of Pebblebrook Hotel Trust in the 2nd quarter valued at $603,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Pebblebrook Hotel Trust by 22.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 35,379 shares of the real estate investment trust’s stock worth $470,000 after purchasing an additional 6,393 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Pebblebrook Hotel Trust by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 580,423 shares of the real estate investment trust’s stock worth $7,981,000 after purchasing 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.
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