Pebblebrook Hotel Trust (NYSE:PEB) Sets New 52-Week High – What’s Next?

Pebblebrook Hotel Trust (NYSE:PEB)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.05 and last traded at $12.81, with a volume of 108561 shares trading hands. The stock had previously closed at $12.83.

Analysts Set New Price Targets

PEB has been the subject of several recent analyst reports. Barclays started coverage on shares of Pebblebrook Hotel Trust in a research note on Tuesday, January 6th. They set an “underweight” rating and a $10.00 price objective for the company. Citigroup lifted their price target on shares of Pebblebrook Hotel Trust from $10.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Morgan Stanley set a $9.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Wednesday, October 22nd. Zacks Research downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Finally, Truist Financial upped their target price on Pebblebrook Hotel Trust from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, Pebblebrook Hotel Trust currently has a consensus rating of “Reduce” and a consensus target price of $12.08.

Pebblebrook Hotel Trust Stock Performance

The firm’s 50 day moving average is $11.75 and its 200 day moving average is $11.18. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $1.45 billion, a P/E ratio of -10.70 and a beta of 1.54.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -3.36%.

Institutional Trading of Pebblebrook Hotel Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC raised its holdings in shares of Pebblebrook Hotel Trust by 174.6% during the first quarter. AQR Capital Management LLC now owns 93,371 shares of the real estate investment trust’s stock worth $941,000 after purchasing an additional 59,367 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Pebblebrook Hotel Trust by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,002 shares of the real estate investment trust’s stock worth $719,000 after purchasing an additional 3,075 shares during the period. Caxton Associates LLP acquired a new stake in Pebblebrook Hotel Trust during the 1st quarter worth about $310,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Pebblebrook Hotel Trust by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 659,945 shares of the real estate investment trust’s stock valued at $6,685,000 after buying an additional 48,640 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Pebblebrook Hotel Trust by 1,024.6% during the 2nd quarter. CWM LLC now owns 34,535 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 31,464 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.