Pebblebrook Hotel Trust (NYSE:PEB) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a hold rating to a sell rating in a research note issued to investors on Monday.

PEB has been the subject of a number of other research reports. Wells Fargo & Company cut their price objective on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an equal weight rating for the company in a research report on Friday. Truist Financial cut their price target on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating for the company in a report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $13.92.

Pebblebrook Hotel Trust Trading Down 0.5 %

PEB stock opened at $12.90 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.71. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65. The business has a 50 day simple moving average of $13.03 and a two-hundred day simple moving average of $14.14. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -12.65, a PEG ratio of 0.60 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.42). The company had revenue of $397.11 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. Research analysts anticipate that Pebblebrook Hotel Trust will post 1.51 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.31%. Pebblebrook Hotel Trust’s payout ratio is currently -3.92%.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other news, Director Phillip M. Miller sold 3,500 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on 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 transaction, the director now owns 13,098 shares in the company, valued at approximately $174,072.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Jon E. Bortz purchased 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of $12.21 per share, for a total transaction of $268,620.00. Following the acquisition, the chief executive officer now owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $46,515.00. Following the completion of the sale, the director now directly owns 13,098 shares in the company, valued at $174,072.42. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Quarry LP boosted its holdings in Pebblebrook Hotel Trust by 2,376.9% during the 2nd quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 4,326 shares during the period. Algert Global LLC bought a new stake in shares of Pebblebrook Hotel Trust during the second quarter worth $167,000. The Manufacturers Life Insurance Company boosted its stake in shares of Pebblebrook Hotel Trust by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 65,587 shares of the real estate investment trust’s stock valued at $902,000 after purchasing an additional 2,407 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of Pebblebrook Hotel Trust by 38.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock worth $26,997,000 after purchasing an additional 541,573 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in Pebblebrook Hotel Trust by 1.0% in the 2nd quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock worth $69,247,000 after buying an additional 51,677 shares during the period.

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.