Covestor Ltd Purchases 1,989 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Covestor Ltd lifted its position in Pebblebrook Hotel Trust (NYSE:PEB) by 80.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,471 shares of the real estate investment trust’s stock after purchasing an additional 1,989 shares during the period. Covestor Ltd’s holdings in Pebblebrook Hotel Trust were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PEB. Bank of Montreal Can raised its holdings in Pebblebrook Hotel Trust by 68.1% during the second quarter. Bank of Montreal Can now owns 1,875,288 shares of the real estate investment trust’s stock valued at $25,841,000 after acquiring an additional 759,964 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in Pebblebrook Hotel Trust by 38.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock valued at $26,997,000 after buying an additional 541,573 shares in the last quarter. Earnest Partners LLC raised its position in shares of Pebblebrook Hotel Trust by 1.0% during the second quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock valued at $69,247,000 after buying an additional 51,677 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Pebblebrook Hotel Trust by 166.1% during the second quarter. Victory Capital Management Inc. now owns 80,444 shares of the real estate investment trust’s stock worth $1,106,000 after acquiring an additional 50,210 shares during the last quarter. Finally, Choreo LLC purchased a new position in Pebblebrook Hotel Trust during the second quarter valued at $603,000.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz sold 11,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 1,349,284 shares in the company, valued at $28,834,199.08. This represents a 0.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial dropped their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, October 28th. Wells Fargo & Company decreased their price target on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird dropped 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. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.30.

Pebblebrook Hotel Trust Stock Down 3.0 %

Shares of NYSE:PEB opened at $12.29 on Friday. The firm has a market capitalization of $1.47 billion, a PE ratio of -42.38, a price-to-earnings-growth ratio of 0.60 and a beta of 1.85. The business has a 50 day simple moving average of $12.86 and a two-hundred day simple moving average of $13.38. Pebblebrook Hotel Trust has a 1 year low of $11.65 and a 1 year high of $16.65. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -13.79%.

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.