Geode Capital Management LLC Acquires 28,871 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Geode Capital Management LLC boosted its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,043,473 shares of the real estate investment trust’s stock after purchasing an additional 28,871 shares during the quarter. Geode Capital Management LLC owned about 2.54% of Pebblebrook Hotel Trust worth $40,272,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in shares of Pebblebrook Hotel Trust by 80.1% during the third quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 1,989 shares during the last quarter. Quarry LP raised its stake in 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 during 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 grew its position in Pebblebrook Hotel Trust by 10.8% in the 3rd quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 884 shares during the last quarter. Finally, FORA Capital LLC acquired a new stake in Pebblebrook Hotel Trust in the 3rd quarter worth $133,000.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 13,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were bought at an average price 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 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jon E. Bortz sold 11,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 1,349,284 shares of the company’s stock, valued at approximately $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 corporate insiders.

Pebblebrook Hotel Trust Price Performance

Shares of PEB stock opened at $13.75 on Wednesday. The stock’s fifty day simple moving average is $13.24 and its 200 day simple moving average is $13.23. Pebblebrook Hotel Trust has a one year low of $11.65 and a one year high of $16.65. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -47.41, a P/E/G ratio of 0.69 and a beta of 1.87. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Tuesday, December 31st. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PEB shares. Wells Fargo & Company increased their target price on shares of Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Robert W. Baird reduced their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their target price for the company from $14.75 to $15.00 in a research note on Friday, November 22nd. Finally, Truist Financial decreased their price target on shares of 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. Two investment 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’s stock. According to data from MarketBeat.com, Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and a consensus target price of $14.92.

Pebblebrook Hotel Trust Company 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.