Pebblebrook Hotel Trust (NYSE:PEB) Stock Price Up 5.1% – Here’s What Happened

Pebblebrook Hotel Trust (NYSE:PEB)’s share price traded up 5.1% during mid-day trading on Tuesday . The company traded as high as $14.82 and last traded at $14.62. 516,606 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,673,166 shares. The stock had previously closed at $13.91.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEB. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.75 to $15.00 in a research report on Friday, November 22nd. Truist Financial reduced their price target on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, October 28th. StockNews.com lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Robert W. Baird decreased their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Compass Point raised Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.58.

Pebblebrook Hotel Trust Stock Performance

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average price of $12.87 and a two-hundred day moving average price of $13.23.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.27%. The ex-dividend date was Monday, September 30th. Pebblebrook Hotel Trust’s payout ratio is currently -13.79%.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 13,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were 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 directly owns 1,395,284 shares in the company, valued at approximately $17,692,201.12. This trade represents a 0.94 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jon E. Bortz sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $21.37, for a total value of $235,070.00. Following the sale, the chief executive officer now directly owns 1,349,284 shares of the company’s stock, valued at $28,834,199.08. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in shares of Pebblebrook Hotel Trust by 68.1% in the 2nd quarter. Bank of Montreal Can now owns 1,875,288 shares of the real estate investment trust’s stock valued at $25,841,000 after acquiring an additional 759,964 shares during the period. D. E. Shaw & Co. Inc. raised its position in 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 valued at $26,997,000 after purchasing an additional 541,573 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Pebblebrook Hotel Trust by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,418,159 shares of the real estate investment trust’s stock worth $31,992,000 after purchasing an additional 130,265 shares in the last quarter. Atom Investors LP purchased a new position in shares of Pebblebrook Hotel Trust during the third quarter worth $1,363,000. Finally, GSA Capital Partners LLP grew its stake in shares of Pebblebrook Hotel Trust by 47.4% in the third quarter. GSA Capital Partners LLP now owns 223,654 shares of the real estate investment trust’s stock valued at $2,959,000 after buying an additional 71,920 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.