abrdn plc Acquires 11,117 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

abrdn plc raised its position in Pebblebrook Hotel Trust (NYSE:PEB) by 45.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 35,696 shares of the real estate investment trust’s stock after acquiring an additional 11,117 shares during the period. abrdn plc’s holdings in Pebblebrook Hotel Trust were worth $481,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd grew its stake in shares of 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 worth $59,000 after acquiring an additional 1,989 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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. FMR LLC lifted its position in Pebblebrook Hotel Trust by 10.8% during the third quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 884 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Pebblebrook Hotel Trust during the 3rd quarter valued at about $133,000. Finally, Metis Global Partners LLC bought a new stake in Pebblebrook Hotel Trust in the third quarter worth $164,000.

Insider Activity

In related news, CEO Jon E. Bortz acquired 13,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,395,284 shares in the company, valued at $17,692,201.12. This trade represents a 0.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust Stock Down 0.2 %

NYSE PEB opened at $12.42 on Wednesday. Pebblebrook Hotel Trust has a 52 week low of $11.65 and a 52 week high of $16.65. The company has a fifty day moving average of $13.68 and a two-hundred day moving average of $13.18. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -42.81, a PEG ratio of 0.62 and a beta of 1.85. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Tuesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio is currently -13.79%.

Analysts Set New Price Targets

PEB has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Wedbush lowered shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price target for the company. in a research note on Thursday, January 2nd. Robert W. Baird dropped 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. Wells Fargo & Company raised their target price on shares of Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Finally, Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price objective 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 issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.67.

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.