Victory Capital Management Inc. Raises Stake in Pebblebrook Hotel Trust (NYSE:PEB)

Victory Capital Management Inc. grew its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 24.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 100,169 shares of the real estate investment trust’s stock after buying an additional 19,725 shares during the period. Victory Capital Management Inc. owned 0.08% of Pebblebrook Hotel Trust worth $1,325,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Covestor Ltd increased its position in Pebblebrook Hotel Trust by 80.1% in the 3rd quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,989 shares during the period. Quarry LP increased its holdings in shares of Pebblebrook Hotel Trust by 2,376.9% in the second quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 4,326 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Pebblebrook Hotel Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,212 shares during the period. Blue Trust Inc. raised its stake in shares of Pebblebrook Hotel Trust by 707.8% during the second quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 9,740 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the second quarter worth $167,000.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 13,000 shares of Pebblebrook Hotel Trust stock in a transaction on Thursday, November 21st. The shares were bought at an average price of $12.68 per share, with a total value of $164,840.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,395,284 shares of the company’s stock, valued at approximately $17,692,201.12. This trade represents a 0.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jon E. Bortz sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $21.37, for a total transaction of $235,070.00. Following the transaction, the chief executive officer now directly owns 1,349,284 shares of the company’s stock, valued at approximately $28,834,199.08. This trade represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust Stock Up 1.1 %

PEB stock opened at $13.88 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average price is $12.88 and its 200 day moving average price is $13.26. Pebblebrook Hotel Trust has a 52 week low of $11.65 and a 52 week high of $16.65. The company has a market cap of $1.66 billion, a P/E ratio of -47.86, a P/E/G ratio of 0.64 and a beta of 1.85.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -13.79%.

Wall Street Analyst Weigh In

PEB has been the topic of several recent research reports. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Robert W. Baird dropped their price target on shares of 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. Wells Fargo & Company raised their price objective on shares of Pebblebrook Hotel Trust from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Tuesday. Truist Financial lowered their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Finally, Compass Point raised Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Pebblebrook Hotel Trust has a consensus rating of “Hold” and an average price target of $14.58.

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.