Pebblebrook Hotel Trust (NYSE:PEB) Shares Gap Down to $15.58

Pebblebrook Hotel Trust (NYSE:PEB) shares gapped down prior to trading on Thursday . The stock had previously closed at $15.58, but opened at $15.07. Pebblebrook Hotel Trust shares last traded at $15.58, with a volume of 134,776 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PEB. Wells Fargo & Company upped their price objective on shares of Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Friday, December 22nd. Truist Financial increased their target price on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Thursday, January 18th. Bank of America cut shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.50 price target on the stock. in a research report on Monday, January 8th. Finally, Compass Point reissued a “neutral” rating and set a $17.00 price objective on shares of Pebblebrook Hotel Trust in a report on Thursday. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.78.

Pebblebrook Hotel Trust Stock Down 1.7 %

The firm has a market capitalization of $1.84 billion, a PE ratio of -15.81, a price-to-earnings-growth ratio of 0.70 and a beta of 1.86. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s 50-day moving average is $15.79 and its 200 day moving average is $14.47.

Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. The company had revenue of $334.10 million for the quarter, compared to analyst estimates of $325.42 million. Pebblebrook Hotel Trust had a negative net margin of 5.49% and a negative return on equity of 2.65%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 EPS. As a group, research analysts forecast that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -4.12%.

Insider Activity

In other news, insider Thomas Charles Fisher sold 11,441 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.62, for a total transaction of $178,708.42. Following the completion of the transaction, the insider now owns 254,449 shares of the company’s stock, valued at approximately $3,974,493.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PEB. Allspring Global Investments Holdings LLC increased its position in Pebblebrook Hotel Trust by 13.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the real estate investment trust’s stock worth $104,000 after purchasing an additional 884 shares in the last quarter. Snowden Capital Advisors LLC increased its position in Pebblebrook Hotel Trust by 7.6% during the 1st quarter. Snowden Capital Advisors LLC now owns 12,721 shares of the real estate investment trust’s stock worth $179,000 after purchasing an additional 897 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Pebblebrook Hotel Trust by 6.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 14,579 shares of the real estate investment trust’s stock worth $198,000 after purchasing an additional 942 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in Pebblebrook Hotel Trust by 2.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 53,983 shares of the real estate investment trust’s stock worth $863,000 after purchasing an additional 1,135 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Pebblebrook Hotel Trust by 11.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,653 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 1,199 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.