Blue Trust Inc. Sells 5,053 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Blue Trust Inc. reduced its position in Pebblebrook Hotel Trust (NYSE:PEB) by 45.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,063 shares of the real estate investment trust’s stock after selling 5,053 shares during the quarter. Blue Trust Inc.’s holdings in Pebblebrook Hotel Trust were worth $83,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Quarry LP raised 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 acquiring an additional 4,326 shares in the last quarter. Algert Global LLC bought a new position in Pebblebrook Hotel Trust in the second quarter worth about $167,000. The Manufacturers Life Insurance Company raised its holdings in Pebblebrook Hotel Trust by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 65,587 shares of the real estate investment trust’s stock worth $902,000 after purchasing an additional 2,407 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Pebblebrook Hotel Trust by 38.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock worth $26,997,000 after purchasing an additional 541,573 shares in the last quarter. Finally, Earnest Partners LLC raised its holdings in Pebblebrook Hotel Trust by 1.0% in the second quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock worth $69,247,000 after purchasing an additional 51,677 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Wells Fargo & Company reduced their target price on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Truist Financial dropped 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. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.70.

Insider Transactions at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz bought 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $12.21 per share, for a total transaction of $268,620.00. Following the completion of the transaction, the chief executive officer now directly owns 1,341,284 shares in the company, valued at approximately $16,377,077.64. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Jon E. Bortz bought 66,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $11.98 per share, for a total transaction of $790,680.00. Following the completion of the transaction, the chief executive officer now directly owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jon E. Bortz bought 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $12.21 per share, for a total transaction of $268,620.00. Following the transaction, the chief executive officer now owns 1,341,284 shares of the company’s stock, valued at $16,377,077.64. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

Pebblebrook Hotel Trust Price Performance

Shares of PEB stock opened at $12.47 on Wednesday. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -11.33, a PEG ratio of 0.58 and a beta of 1.84. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s 50-day simple moving average is $12.96 and its 200-day simple moving average is $13.55.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. Pebblebrook Hotel Trust’s payout ratio is -3.64%.

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.