Wells Fargo & Company Forecasts Strong Price Appreciation for Pebblebrook Hotel Trust (NYSE:PEB) Stock

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) had its price target upped by analysts at Wells Fargo & Company from $13.00 to $14.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the real estate investment trust's stock. Wells Fargo & Company's target price points to a potential upside of 0.79% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. Robert W. Baird reduced their price target on shares of 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. Truist Financial cut their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a "hold" rating on the stock in a research report on Monday, October 28th. StockNews.com cut shares of Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a "hold" rating to a "buy" rating and boosted their price objective for the company from $14.75 to $15.00 in a research report on Friday. Finally, Compass Point upgraded shares of Pebblebrook Hotel Trust from a "neutral" rating to a "buy" rating and set a $17.00 price objective on the stock in a research report on Thursday, November 21st. Two investment 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 company presently has a consensus rating of "Hold" and an average target price of $14.58.

Pebblebrook Hotel Trust Price Performance

PEB traded up $0.16 during trading hours on Tuesday, hitting $13.89. The company's stock had a trading volume of 489,485 shares, compared to its average volume of 1,677,671. The business's 50-day moving average price is $12.87 and its 200-day moving average price is $13.27. Pebblebrook Hotel Trust has a 12 month low of $11.65 and a 12 month high of $16.65. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -47.34, a P/E/G ratio of 0.64 and a beta of 1.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78.

Insider Activity

In other news, CEO Jon E. Bortz sold 11,000 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $21.37, for a total transaction of $235,070.00. Following the completion of the sale, the chief executive officer now directly owns 1,349,284 shares of the company's stock, valued at approximately $28,834,199.08. The trade was a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon E. Bortz bought 13,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of $12.68 per share, with a total value of $164,840.00. Following the completion of the purchase, the chief executive officer now directly owns 1,395,284 shares of the company's stock, valued at approximately $17,692,201.12. This trade represents a 0.94 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.40% of the company's stock.

Institutional Trading of Pebblebrook Hotel Trust

A number of hedge funds have recently added to or reduced their stakes in the business. Earnest Partners LLC lifted its stake in Pebblebrook Hotel Trust by 1.0% in the second quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust's stock worth $69,247,000 after acquiring an additional 51,677 shares during the period. Geode Capital Management LLC raised its holdings in Pebblebrook Hotel Trust by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust's stock worth $40,272,000 after purchasing an additional 28,871 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Pebblebrook Hotel Trust by 5.7% in 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. D. E. Shaw & Co. Inc. raised its holdings 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 worth $26,997,000 after purchasing an additional 541,573 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Pebblebrook Hotel Trust by 68.1% in the second quarter. Bank of Montreal Can now owns 1,875,288 shares of the real estate investment trust's stock worth $25,841,000 after purchasing an additional 759,964 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.