Daiwa Securities Group Inc. Decreases Position in Pebblebrook Hotel Trust (NYSE:PEB)

Daiwa Securities Group Inc. lessened its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,050 shares of the real estate investment trust’s stock after selling 1,097 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Pebblebrook Hotel Trust were worth $523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its position in Pebblebrook Hotel Trust by 21.8% during the fourth quarter. Victory Capital Management Inc. now owns 30,638 shares of the real estate investment trust’s stock worth $490,000 after buying an additional 5,475 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Pebblebrook Hotel Trust by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,206,660 shares of the real estate investment trust’s stock worth $35,262,000 after buying an additional 18,325 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Pebblebrook Hotel Trust in the 4th quarter worth $64,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Pebblebrook Hotel Trust by 5.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 76,603 shares of the real estate investment trust’s stock valued at $1,177,000 after buying an additional 3,724 shares in the last quarter. Finally, Norges Bank acquired a new stake in Pebblebrook Hotel Trust during the fourth quarter valued at $8,798,000.

Insiders Place Their Bets

In other news, CEO Jon E. Bortz acquired 66,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $11.98 per share, for a total transaction of $790,680.00. Following the transaction, the chief executive officer now directly owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 66,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $11.98 per share, with a total value of $790,680.00. Following the purchase, the chief executive officer now owns 1,319,284 shares in the company, valued at $15,805,022.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jon E. Bortz acquired 22,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $12.21 per share, for a total transaction of $268,620.00. Following the completion of the purchase, the chief executive officer now directly owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by insiders.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE PEB opened at $12.90 on Tuesday. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. The company has a 50 day simple moving average of $13.03 and a two-hundred day simple moving average of $14.14. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -12.65, a PEG ratio of 0.60 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.42). The business had revenue of $397.11 million for the quarter, compared to analyst estimates of $396.29 million. Pebblebrook Hotel Trust had a negative return on equity of 3.40% and a negative net margin of 6.75%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 EPS. As a group, analysts predict that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. Pebblebrook Hotel Trust’s payout ratio is -3.92%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PEB shares. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Monday. Wells Fargo & Company lowered their target price 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. Finally, Truist Financial cut their price objective on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.92.

Pebblebrook Hotel Trust Company Profile

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.