Charles Schwab Investment Management Inc. Has $31.99 Million Stock Position in Pebblebrook Hotel Trust (NYSE:PEB)

Charles Schwab Investment Management Inc. grew its position in Pebblebrook Hotel Trust (NYSE:PEB) by 5.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,418,159 shares of the real estate investment trust’s stock after buying an additional 130,265 shares during the period. Charles Schwab Investment Management Inc. owned 2.02% of Pebblebrook Hotel Trust worth $31,992,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEB. Blue Trust Inc. increased its stake in shares of Pebblebrook Hotel Trust by 707.8% in the 2nd quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 9,740 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Pebblebrook Hotel Trust by 0.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 135,174 shares of the real estate investment trust’s stock valued at $1,859,000 after buying an additional 916 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Pebblebrook Hotel Trust by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the real estate investment trust’s stock valued at $833,000 after buying an additional 900 shares during the period. Van ECK Associates Corp increased its stake in shares of Pebblebrook Hotel Trust by 7.1% in the 2nd quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock valued at $251,000 after buying an additional 1,215 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Pebblebrook Hotel Trust by 166.1% in the 2nd quarter. Victory Capital Management Inc. now owns 80,444 shares of the real estate investment trust’s stock valued at $1,106,000 after buying an additional 50,210 shares during the period.

Wall Street Analysts Forecast Growth

PEB has been the subject of a number of analyst reports. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Truist Financial decreased their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Robert W. Baird reduced their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company boosted their price target on Pebblebrook Hotel Trust from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Tuesday, November 26th. Finally, Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and boosted their price target for the company from $14.75 to $15.00 in a report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.58.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 13,000 shares of the stock in a transaction on Thursday, November 21st. The shares were purchased at an average price of $12.68 per share, with a total value of $164,840.00. Following the completion of the transaction, the chief executive officer now directly owns 1,395,284 shares in the company, valued at $17,692,201.12. This represents a 0.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon E. Bortz sold 11,000 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 1,349,284 shares in the company, valued at $28,834,199.08. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

Pebblebrook Hotel Trust Stock Performance

PEB opened at $14.72 on Wednesday. Pebblebrook Hotel Trust has a 52-week low of $11.65 and a 52-week high of $16.65. The firm has a market capitalization of $1.76 billion, a PE ratio of -50.74, a PEG ratio of 0.67 and a beta of 1.87. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day simple moving average is $12.89 and its 200 day simple moving average is $13.23.

Pebblebrook Hotel Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.27%. Pebblebrook Hotel Trust’s payout ratio is presently -13.79%.

Pebblebrook Hotel Trust 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.