Pebblebrook Hotel Trust (NYSE:PEB) Sets New 1-Year High – Here’s Why

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

Wall Street Analyst Weigh In

PEB has been the subject of a number of research reports. Robert W. Baird set a $15.00 price objective on shares of Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research note on Monday, January 12th. Barclays assumed coverage on shares of Pebblebrook Hotel Trust in a research note on Tuesday, January 6th. They issued an “underweight” rating and a $10.00 price target for the company. Truist Financial raised their price objective 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. Stifel Nicolaus set a $13.50 target price on Pebblebrook Hotel Trust in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Pebblebrook Hotel Trust in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, Pebblebrook Hotel Trust has an average rating of “Reduce” and a consensus target price of $12.08.

Pebblebrook Hotel Trust Price Performance

The stock has a market cap of $1.46 billion, a PE ratio of -10.78 and a beta of 1.54. The business’s 50-day simple moving average is $11.67 and its 200-day simple moving average is $11.15. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.86.

Pebblebrook Hotel Trust Dividend Announcement

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

Hedge Funds Weigh In On Pebblebrook Hotel Trust

Several hedge funds have recently made changes to their positions in PEB. Allianz Asset Management GmbH boosted its holdings in Pebblebrook Hotel Trust by 108.7% in the third quarter. Allianz Asset Management GmbH now owns 707,913 shares of the real estate investment trust’s stock valued at $8,063,000 after acquiring an additional 368,681 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Pebblebrook Hotel Trust by 7.6% in the 2nd quarter. Nordea Investment Management AB now owns 802,145 shares of the real estate investment trust’s stock worth $8,025,000 after purchasing an additional 56,815 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Pebblebrook Hotel Trust by 15.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 692,901 shares of the real estate investment trust’s stock worth $6,922,000 after purchasing an additional 91,769 shares during the period. Nebula Research & Development LLC boosted its stake in shares of Pebblebrook Hotel Trust by 97.4% during the 2nd quarter. Nebula Research & Development LLC now owns 195,799 shares of the real estate investment trust’s stock valued at $1,956,000 after purchasing an additional 96,608 shares in the last quarter. Finally, Capital Fund Management S.A. increased its position in shares of Pebblebrook Hotel Trust by 48.1% during the second quarter. Capital Fund Management S.A. now owns 157,527 shares of the real estate investment trust’s stock valued at $1,574,000 after buying an additional 51,169 shares during the period.

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.