BNP Paribas Financial Markets Sells 32,809,332 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

BNP Paribas Financial Markets lowered its position in Pebblebrook Hotel Trust (NYSE:PEB) by 99.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 35,422 shares of the real estate investment trust’s stock after selling 32,809,332 shares during the quarter. BNP Paribas Financial Markets’ holdings in Pebblebrook Hotel Trust were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Pebblebrook Hotel Trust by 10.8% during the 3rd 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 period. Quantbot Technologies LP grew its position in Pebblebrook Hotel Trust by 47.9% during the third quarter. Quantbot Technologies LP now owns 134,485 shares of the real estate investment trust’s stock valued at $1,779,000 after buying an additional 43,539 shares during the period. Daiwa Securities Group Inc. increased its holdings in Pebblebrook Hotel Trust by 6.0% during the third quarter. Daiwa Securities Group Inc. now owns 40,328 shares of the real estate investment trust’s stock valued at $534,000 after buying an additional 2,278 shares during the last quarter. Cerity Partners LLC raised its position in Pebblebrook Hotel Trust by 35.1% in the third quarter. Cerity Partners LLC now owns 34,806 shares of the real estate investment trust’s stock worth $460,000 after acquiring an additional 9,045 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Pebblebrook Hotel Trust by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,418,159 shares of the real estate investment trust’s stock worth $31,992,000 after acquiring an additional 130,265 shares during the period.

Analysts Set New Price Targets

PEB has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Truist Financial cut their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, October 28th. Compass Point raised Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Thursday, November 21st. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and boosted their price objective for the company from $14.75 to $15.00 in a research note on Friday, November 22nd. Finally, Robert W. Baird decreased their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.92.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz bought 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average cost of $12.68 per share, for a total transaction of $164,840.00. Following the completion of the transaction, the chief executive officer now owns 1,395,284 shares of the company’s stock, valued at approximately $17,692,201.12. This 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 the SEC website. Also, CEO Jon E. Bortz sold 11,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,349,284 shares of the company’s stock, valued at approximately $28,834,199.08. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust Price Performance

Shares of Pebblebrook Hotel Trust stock opened at $14.49 on Friday. 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 has a 52 week low of $11.65 and a 52 week high of $16.65. The stock’s 50-day simple moving average is $13.08 and its 200-day simple moving average is $13.25. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -49.95, a PEG ratio of 0.71 and a beta of 1.87.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.28%. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

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.