Brokerages Set Pebblebrook Hotel Trust (NYSE:PEB) PT at $12.08

Pebblebrook Hotel Trust (NYSE:PEB) has been assigned an average recommendation of “Reduce” from the thirteen analysts that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $12.0833.

A number of research analysts recently weighed in on PEB shares. Stifel Nicolaus set a $13.50 price objective on shares of Pebblebrook Hotel Trust in a report on Thursday, November 6th. Wells Fargo & Company raised their price target on shares of Pebblebrook Hotel Trust from $11.00 to $13.00 and gave the company an “equal weight” rating in a research report on Monday, December 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pebblebrook Hotel Trust in a research report on Monday, December 29th. Barclays started coverage on Pebblebrook Hotel Trust in a report on Tuesday, January 6th. They issued an “underweight” rating and a $10.00 target price for the company. Finally, Truist Financial upped their price target on Pebblebrook Hotel Trust from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Monday, January 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. raised its holdings in shares of Pebblebrook Hotel Trust by 56.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 6,268,902 shares of the real estate investment trust’s stock valued at $71,403,000 after purchasing an additional 2,259,389 shares in the last quarter. Woodline Partners LP increased its holdings in Pebblebrook Hotel Trust by 114.6% in the third quarter. Woodline Partners LP now owns 3,150,890 shares of the real estate investment trust’s stock valued at $35,889,000 after buying an additional 1,682,855 shares during the last quarter. Geode Capital Management LLC increased its holdings in Pebblebrook Hotel Trust by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 3,033,952 shares of the real estate investment trust’s stock valued at $34,350,000 after buying an additional 177,466 shares during the last quarter. Legal & General Group Plc raised its stake in Pebblebrook Hotel Trust by 14.1% in the fourth quarter. Legal & General Group Plc now owns 2,566,267 shares of the real estate investment trust’s stock valued at $29,050,000 after buying an additional 317,573 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Pebblebrook Hotel Trust by 2,584.8% during the 3rd quarter. Millennium Management LLC now owns 2,161,137 shares of the real estate investment trust’s stock worth $24,615,000 after buying an additional 2,080,641 shares during the last quarter.

Pebblebrook Hotel Trust Trading Up 3.2%

Shares of NYSE PEB opened at $12.82 on Friday. Pebblebrook Hotel Trust has a twelve month low of $7.41 and a twelve month high of $12.95. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.86. The stock has a fifty day simple moving average of $11.67 and a 200-day simple moving average of $11.15. The stock has a market capitalization of $1.46 billion, a PE ratio of -10.77 and a beta of 1.54.

Pebblebrook Hotel Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Wednesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio is presently -3.36%.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.