Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “Pebblebrook Hotel Trust is an internally managed hotel investment company organized to acquire and invest in hotel properties located primarily in large United States cities with an emphasis on the major coastal markets. The Company may invest in resort properties located near its primary urban target markets, as well as in select destination markets. Pebblebrook Hotel Trust focuses on hotel properties in the lodging industry. In addition, the Company may seek to acquire service properties in its primary urban target markets. “

A number of other equities research analysts also recently weighed in on PEB. Bank of America reiterated a buy rating and issued a $36.00 target price on shares of Pebblebrook Hotel Trust in a report on Monday, October 29th. Robert W. Baird set a $38.00 target price on Pebblebrook Hotel Trust and gave the stock a hold rating in a report on Wednesday, October 10th. Royal Bank of Canada reiterated a buy rating and issued a $40.00 target price on shares of Pebblebrook Hotel Trust in a report on Wednesday, August 15th. Finally, Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a hold rating to a buy rating and set a $38.00 target price for the company in a report on Monday, November 12th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $38.67.

Shares of PEB stock opened at $35.04 on Wednesday. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.61. Pebblebrook Hotel Trust has a fifty-two week low of $31.05 and a fifty-two week high of $41.65.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Thursday, November 29th will be issued a $0.2478 dividend. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $0.99 dividend on an annualized basis and a yield of 2.83%. Pebblebrook Hotel Trust’s payout ratio is currently 38.52%.

A number of hedge funds have recently modified their holdings of PEB. Standard Life Aberdeen plc increased its holdings in shares of Pebblebrook Hotel Trust by 6.4% during the third quarter. Standard Life Aberdeen plc now owns 130,365 shares of the real estate investment trust’s stock valued at $4,742,000 after acquiring an additional 7,857 shares in the last quarter. Nordea Investment Management AB bought a new stake in shares of Pebblebrook Hotel Trust during the third quarter valued at approximately $4,230,000. Cohen & Steers Inc. increased its holdings in shares of Pebblebrook Hotel Trust by 149.9% during the third quarter. Cohen & Steers Inc. now owns 10,378,746 shares of the real estate investment trust’s stock valued at $377,475,000 after acquiring an additional 6,224,806 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Pebblebrook Hotel Trust by 10.4% during the third quarter. TIAA CREF Investment Management LLC now owns 169,015 shares of the real estate investment trust’s stock valued at $6,147,000 after acquiring an additional 15,981 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Pebblebrook Hotel Trust by 51.9% during the third quarter. Teachers Advisors LLC now owns 920,503 shares of the real estate investment trust’s stock valued at $33,479,000 after acquiring an additional 314,484 shares in the last quarter.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust is a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns 28 hotels, with a total of 6,973 guest rooms. The Company owns hotels located in 9 states and the District of Columbia, including: Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Washington, DC; Coral Gables, Florida; Naples, Florida; Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.

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