Intech Investment Management LLC Makes New Investment in Pebblebrook Hotel Trust (NYSE:PEB)

Intech Investment Management LLC purchased a new position in Pebblebrook Hotel Trust (NYSE:PEB) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 30,476 shares of the real estate investment trust’s stock, valued at approximately $403,000.

Several other institutional investors and hedge funds have also made changes to their positions in PEB. Covestor Ltd lifted its stake in shares of Pebblebrook Hotel Trust by 80.1% during the 3rd quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,989 shares during the period. Quarry LP boosted its position 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 worth $62,000 after acquiring an additional 4,326 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Pebblebrook Hotel Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 1,212 shares during the last quarter. Blue Trust Inc. raised its stake in 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 period. Finally, Metis Global Partners LLC acquired a new position in shares of Pebblebrook Hotel Trust in the 3rd quarter valued at $164,000.

Insider Activity

In other news, CEO Jon E. Bortz purchased 13,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $12.68 per share, with a total value of $164,840.00. Following the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jon E. Bortz sold 11,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $21.37, for a total transaction of $235,070.00. Following the completion of the sale, the chief executive officer now owns 1,349,284 shares of the company’s stock, valued at $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. 2.40% of the stock is currently owned by company insiders.

Pebblebrook Hotel Trust Price Performance

NYSE PEB opened at $13.90 on Tuesday. The firm has a market capitalization of $1.66 billion, a PE ratio of -47.91, a P/E/G ratio of 0.67 and a beta of 1.85. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81. Pebblebrook Hotel Trust has a 12 month low of $11.65 and a 12 month high of $16.65. The company’s 50 day simple moving average is $12.87 and its 200 day simple moving average is $13.23.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -13.79%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PEB shares. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Robert W. Baird cut their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $14.75 to $15.00 in a research note on Friday, November 22nd. Truist Financial cut their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Finally, Compass Point upgraded 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 assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.58.

About Pebblebrook Hotel Trust

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.