Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) had its price target reduced by Truist Financial from $15.00 to $14.00 in a report released on Monday, Benzinga reports. The brokerage presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price target would suggest a potential upside of 12.00% from the stock's current price.
Other research analysts have also issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Friday, September 13th. StockNews.com cut shares of Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $13.70.
Read Our Latest Stock Report on PEB
Pebblebrook Hotel Trust Price Performance
Shares of NYSE PEB traded up $0.18 during mid-day trading on Monday, reaching $12.50. 2,146,647 shares of the company's stock were exchanged, compared to its average volume of 1,681,812. Pebblebrook Hotel Trust has a twelve month low of $11.39 and a twelve month high of $16.65. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $12.97 and a 200 day simple moving average of $13.59.
Insiders Place Their Bets
In related news, CEO Jon E. Bortz bought 22,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $12.21 per share, with a total value of $268,620.00. Following the completion of the transaction, the chief executive officer now owns 1,341,284 shares in the company, valued at $16,377,077.64. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 66,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $11.98 per share, for a total transaction of $790,680.00. Following the completion of the acquisition, the chief executive officer now owns 1,319,284 shares of the company's stock, valued at approximately $15,805,022.32. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jon E. Bortz acquired 22,000 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $12.21 per share, for a total transaction of $268,620.00. Following the purchase, the chief executive officer now directly owns 1,341,284 shares of the company's stock, valued at approximately $16,377,077.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.60% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in PEB. Quarry LP lifted 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 purchasing an additional 4,326 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Pebblebrook Hotel Trust by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 1,212 shares during the period. Blue Trust Inc. grew its position in shares of Pebblebrook Hotel Trust by 707.8% in the second quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust's stock valued at $153,000 after purchasing an additional 9,740 shares during the last quarter. Algert Global LLC acquired a new position in shares of Pebblebrook Hotel Trust in the second quarter valued at approximately $167,000. Finally, Van ECK Associates Corp increased its stake in shares of Pebblebrook Hotel Trust by 7.1% during the second quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust's stock worth $251,000 after purchasing an additional 1,215 shares during the period.
About Pebblebrook Hotel Trust
(
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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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