Pebblebrook Hotel Trust (NYSE:PEB) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 166.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,444 shares of the real estate investment trust’s stock after acquiring an additional 50,210 shares during the quarter. Victory Capital Management Inc.’s holdings in Pebblebrook Hotel Trust were worth $1,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEB. Van ECK Associates Corp grew its stake in shares of Pebblebrook Hotel Trust by 7.1% in the second quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock valued at $251,000 after buying an additional 1,215 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Pebblebrook Hotel Trust by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the real estate investment trust’s stock valued at $833,000 after buying an additional 900 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Pebblebrook Hotel Trust by 0.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 135,174 shares of the real estate investment trust’s stock valued at $1,859,000 after buying an additional 916 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Pebblebrook Hotel Trust by 707.8% in the second quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 9,740 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Pebblebrook Hotel Trust by 6.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 249,445 shares of the real estate investment trust’s stock valued at $3,842,000 after buying an additional 15,231 shares in the last quarter.

Analyst Upgrades and Downgrades

PEB has been the subject of a number of recent research reports. StockNews.com lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Monday. Truist Financial lowered their target price on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Finally, Wells Fargo & Company lowered their price objective on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.92.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 3,500 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total transaction of $46,515.00. Following the transaction, the director now owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Jon E. Bortz purchased 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $12.21 per share, with a total value of $268,620.00. Following the acquisition, the chief executive officer now owns 1,341,284 shares in the company, valued at approximately $16,377,077.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Phillip M. Miller sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total value of $46,515.00. Following the completion of the sale, the director now directly owns 13,098 shares in the company, valued at approximately $174,072.42. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE PEB opened at $14.11 on Friday. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65. The business has a 50 day moving average price of $13.06 and a two-hundred day moving average price of $14.11. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.70 billion, a PE ratio of -13.83, a price-to-earnings-growth ratio of 0.60 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.42). Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. The business had revenue of $397.11 million for the quarter, compared to analyst estimates of $396.29 million. During the same quarter last year, the business earned $0.62 EPS. Pebblebrook Hotel Trust’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts expect that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -3.92%.

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.