Pebblebrook Hotel Trust (NYSE:PEB) Price Target Raised to $19.00

Pebblebrook Hotel Trust (NYSE:PEB) had its price target raised by Cantor Fitzgerald from $15.00 to $19.00 in a research report report published on Tuesday, MarketBeat Ratings reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

PEB has been the topic of several other research reports. Morgan Stanley lifted their target price on shares of Pebblebrook Hotel Trust from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, July 17th. Citigroup upped their target price on Pebblebrook Hotel Trust from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Weiss Ratings raised Pebblebrook Hotel Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 7th. LADENBURG THALM/SH SH lifted their price target on Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Finally, Zacks Research raised Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Pebblebrook Hotel Trust has a consensus rating of “Hold” and an average target price of $17.44.

Pebblebrook Hotel Trust Stock Up 0.7%

Pebblebrook Hotel Trust stock opened at $18.21 on Tuesday. Pebblebrook Hotel Trust has a fifty-two week low of $9.88 and a fifty-two week high of $19.93. The stock has a market cap of $2.05 billion, a PE ratio of -26.39, a price-to-earnings-growth ratio of 1.24 and a beta of 1.40. The firm’s 50-day simple moving average is $18.60 and its 200 day simple moving average is $15.17. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.34 and a current ratio of 1.34.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -5.80%.

Hedge Funds Weigh In On Pebblebrook Hotel Trust

Institutional investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. grew its holdings in Pebblebrook Hotel Trust by 11.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 6,964,179 shares of the real estate investment trust’s stock valued at $78,835,000 after purchasing an additional 695,277 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Pebblebrook Hotel Trust by 13.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,180,800 shares of the real estate investment trust’s stock valued at $69,969,000 after buying an additional 711,042 shares during the period. Millennium Management LLC raised its stake in shares of Pebblebrook Hotel Trust by 46.1% in the fourth quarter. Millennium Management LLC now owns 3,158,256 shares of the real estate investment trust’s stock valued at $35,751,000 after buying an additional 997,119 shares during the period. Woodline Partners LP lifted its position in shares of Pebblebrook Hotel Trust by 114.6% during the 3rd quarter. Woodline Partners LP now owns 3,150,890 shares of the real estate investment trust’s stock valued at $35,889,000 after buying an additional 1,682,855 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Pebblebrook Hotel Trust by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 3,033,952 shares of the real estate investment trust’s stock valued at $34,350,000 after buying an additional 177,466 shares during the last quarter.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.