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Pebblebrook Hotel Trust ( NYSE:PEB – Get Free Report ) was upgraded by equities research analysts at Compass Point from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a $17.00 price target on the real estate investment trust’s stock. Compass Point’s target price would indicate a potential upside of 25.83% from the stock’s current price. A number of other equities research analysts also recently issued reports on PEB. Truist Financial cut their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, October 28th. StockNews.com lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Robert W. Baird decreased their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company cut their price objective on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Pebblebrook Hotel Trust presently has an average rating of “Hold” and an average price target of $14.42. Check Out Our Latest Analysis on PEB Pebblebrook Hotel Trust Stock Performance Insider Activity at Pebblebrook Hotel Trust In other news, CEO Jon E. Bortz bought 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average cost of $12.68 per share, for a total transaction of $164,840.00. Following the completion of the transaction, the chief executive officer now owns 1,395,284 shares of the company’s stock, valued at approximately $17,692,201.12. This represents a 0.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website . Also, CEO Jon E. Bortz sold 11,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $21.37, for a total value of $235,070.00. Following the transaction, the chief executive officer now owns 1,349,284 shares of the company’s stock, valued at $28,834,199.08. This represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here . 2.40% of the stock is owned by corporate insiders. Hedge Funds Weigh In On Pebblebrook Hotel Trust Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Pebblebrook Hotel Trust by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust’s stock worth $40,272,000 after buying an additional 28,871 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Pebblebrook Hotel Trust by 0.7% during the third quarter. Public Employees Retirement System of Ohio now owns 191,009 shares of the real estate investment trust’s stock valued at $2,527,000 after purchasing an additional 1,402 shares during the period. Stifel Financial Corp lifted its stake in shares of Pebblebrook Hotel Trust by 11.3% in the 3rd quarter. Stifel Financial Corp now owns 25,302 shares of the real estate investment trust’s stock valued at $335,000 after purchasing an additional 2,575 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Pebblebrook Hotel Trust in the 3rd quarter worth approximately $185,000. Finally, Heitman Real Estate Securities LLC boosted its holdings in shares of Pebblebrook Hotel Trust by 4.7% in the 3rd quarter. Heitman Real Estate Securities LLC now owns 89,527 shares of the real estate investment trust’s stock worth $1,184,000 after purchasing an additional 4,033 shares during the period. Pebblebrook Hotel Trust Company Profile ( Get Free Report ) 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. Featured Articles Receive News & Ratings for Pebblebrook Hotel Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pebblebrook Hotel Trust and related companies with MarketBeat.com's FREE daily email newsletter .
A 7-year-old rivalry between tech leaders Elon Musk and Sam Altman over who should run OpenAI and prevent an artificial intelligence "dictatorship" is now heading to a federal judge as Musk seeks to halt the ChatGPT maker's ongoing shift into a for-profit company. Musk, an early OpenAI investor and board member, sued the artificial intelligence company earlier this year alleging it had betrayed its founding aims as a nonprofit research lab benefiting the public good rather than pursuing profits. Musk has since escalated the dispute, adding new claims and asking for a court order that would stop OpenAI’s plans to convert itself into a for-profit business more fully. The world's richest man, whose companies include Tesla, SpaceX and social media platform X, last year started his own rival AI company, xAI. Musk says it faces unfair competition from OpenAI and its close business partner Microsoft, which has supplied the huge computing resources needed to build AI systems such as ChatGPT. “OpenAI and Microsoft together exploiting Musk’s donations so they can build a for-profit monopoly, one now specifically targeting xAI, is just too much,” says Musk's filing that alleges the companies are violating the terms of Musk’s foundational contributions to the charity. OpenAI is filing a response Friday opposing Musk’s requested order, saying it would cripple OpenAI’s business and mission to the advantage of Musk and his own AI company. A hearing is set for January before U.S. District Judge Yvonne Gonzalez Rogers in Oakland. At the heart of the dispute is a 2017 internal power struggle at the fledgling startup that led to Altman becoming OpenAI's CEO. Musk also sought to be CEO and in an email outlined a plan where he would “unequivocally have initial control of the company” but said that would be temporary. He grew frustrated after two other OpenAI co-founders said he would hold too much power as a major shareholder and chief executive if the startup succeeded in its goal to achieve better-than-human AI known as artificial general intelligence , or AGI. Musk has long voiced concerns about how advanced forms of AI could threaten humanity. “The current structure provides you with a path where you end up with unilateral absolute control over the AGI," said a 2017 email to Musk from co-founders Ilya Sutskever and Greg Brockman. “You stated that you don't want to control the final AGI, but during this negotiation, you've shown to us that absolute control is extremely important to you.” In the same email, titled “Honest Thoughts,” Sutskever and Brockman also voiced concerns about Altman's desire to be CEO and whether he was motivated by “political goals.” Altman eventually succeeded in becoming CEO, and has remained so except for a period last year when he was fired and then reinstated days later after the board that ousted him was replaced. OpenAI published the messages Friday in a blog post meant to show its side of the story, particularly Musk's early support for the idea of making OpenAI a for-profit business so it could raise money for the hardware and computer power that AI needs. It was Musk, through his wealth manager Jared Birchall, who first registered “Open Artificial Technologies Technologies, Inc.”, a public benefit corporation, in September 2017. Then came the “Honest Thoughts” email that Musk described as the “final straw.” “Either go do something on your own or continue with OpenAI as a nonprofit,” Musk wrote back. OpenAI said Musk later proposed merging the startup into Tesla before resigning as the co-chair of OpenAI's board in early 2018. Musk didn't immediately respond to emailed requests for comment sent to his companies Friday. Asked about his frayed relationship with Musk at a New York Times conference last week, Altman said he felt “tremendously sad” but also characterized Musk’s legal fight as one about business competition. “He’s a competitor and we’re doing well,” Altman said. He also said at the conference that he is “not that worried” about the Tesla CEO’s influence with President-elect Donald Trump. OpenAI said Friday that Altman plans to make a $1 million personal donation to Trump’s inauguration fund, joining a number of tech companies and executives who are working to improve their relationships with the incoming administration. —————————— The Associated Press and OpenAI have a licensing and technology agreement allowing OpenAI access to part of the AP’s text archives.
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