Cerity Partners LLC Purchases 9,045 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Cerity Partners LLC grew its position in Pebblebrook Hotel Trust (NYSE:PEB) by 35.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,806 shares of the real estate investment trust’s stock after buying an additional 9,045 shares during the period. Cerity Partners LLC’s holdings in Pebblebrook Hotel Trust were worth $460,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Covestor Ltd grew its stake in Pebblebrook Hotel Trust by 80.1% in the third 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 lifted its holdings in shares of Pebblebrook Hotel Trust by 2,376.9% during the 2nd 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Pebblebrook Hotel Trust by 35.0% in the 3rd 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. increased its stake in Pebblebrook Hotel Trust by 707.8% during the 2nd 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 in the last quarter. Finally, Metis Global Partners LLC acquired a new stake in Pebblebrook Hotel Trust during the 3rd quarter worth approximately $164,000.

Insider Activity

In other news, CEO Jon E. Bortz sold 11,000 shares of Pebblebrook Hotel Trust stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jon E. Bortz bought 13,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was purchased at an average cost of $12.68 per share, for a total transaction of $164,840.00. Following the completion of the acquisition, the chief executive officer now owns 1,395,284 shares in the company, valued at $17,692,201.12. This trade represents a 0.94 % increase in their position. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by insiders.

Pebblebrook Hotel Trust Price Performance

NYSE:PEB opened at $14.58 on Monday. The stock’s 50-day simple moving average is $12.95 and its 200 day simple moving average is $13.22. Pebblebrook Hotel Trust has a 52-week low of $11.65 and a 52-week high of $16.65. 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 company has a market cap of $1.75 billion, a P/E ratio of -50.28, a P/E/G ratio of 0.70 and a beta of 1.87.

Pebblebrook Hotel Trust Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PEB. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Compass Point raised shares of 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. Robert W. Baird lowered their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. 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 report on Monday, October 28th. Finally, Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.75 to $15.00 in a report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.58.

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.