Nordea Investment Management AB Boosts Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Nordea Investment Management AB raised its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 90.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 746,763 shares of the real estate investment trust’s stock after acquiring an additional 354,116 shares during the quarter. Nordea Investment Management AB’s holdings in Pebblebrook Hotel Trust were worth $10,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Pebblebrook Hotel Trust by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust’s stock worth $40,272,000 after purchasing an additional 28,871 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Pebblebrook Hotel Trust by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 191,009 shares of the real estate investment trust’s stock valued at $2,527,000 after buying an additional 1,402 shares during the period. Stifel Financial Corp raised its stake in shares of Pebblebrook Hotel Trust by 11.3% in the third quarter. Stifel Financial Corp now owns 25,302 shares of the real estate investment trust’s stock valued at $335,000 after buying an additional 2,575 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Pebblebrook Hotel Trust during the 3rd quarter valued at $185,000. Finally, Heitman Real Estate Securities LLC grew its stake in shares of Pebblebrook Hotel Trust by 4.7% during the 3rd quarter. Heitman Real Estate Securities LLC now owns 89,527 shares of the real estate investment trust’s stock worth $1,184,000 after acquiring an additional 4,033 shares during the period.

Pebblebrook Hotel Trust Stock Down 0.4 %

Shares of NYSE:PEB opened at $13.00 on Thursday. The firm has a fifty day moving average price of $13.47 and a two-hundred day moving average price of $13.20. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -44.83, a PEG ratio of 0.69 and a beta of 1.86. 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 has a one year low of $11.65 and a one year high of $16.65.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.31%. The ex-dividend date is Tuesday, December 31st. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz sold 11,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $21.37, for a total transaction of $235,070.00. Following the completion of the sale, the chief executive officer now directly owns 1,349,284 shares in the company, valued at $28,834,199.08. The trade was a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jon E. Bortz purchased 13,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $12.68 per share, for a total transaction of $164,840.00. Following the acquisition, the chief executive officer now directly owns 1,395,284 shares in the company, valued at approximately $17,692,201.12. The trade was a 0.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PEB has been the topic of a number of research reports. Robert W. Baird lowered their price objective on 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. Wedbush cut shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a research note on Thursday, January 2nd. Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and raised their price objective for the stock from $14.75 to $15.00 in a report on Friday, November 22nd. Compass Point raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, November 21st. Finally, 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.83.

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.