Pebblebrook Hotel Trust (NYSE:PEB) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 7.1% during the 2nd quarter, Holdings Channel reports. The firm owned 18,270 shares of the real estate investment trust’s stock after buying an additional 1,215 shares during the quarter. Van ECK Associates Corp’s holdings in Pebblebrook Hotel Trust were worth $251,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Pebblebrook Hotel Trust by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,206,660 shares of the real estate investment trust’s stock worth $35,262,000 after acquiring an additional 18,325 shares during the period. Norges Bank acquired a new stake in Pebblebrook Hotel Trust during the 4th quarter worth about $8,798,000. Nomura Holdings Inc. grew its position in Pebblebrook Hotel Trust by 44.3% during the 4th quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock worth $8,201,000 after purchasing an additional 157,637 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Pebblebrook Hotel Trust by 6.5% during the 1st 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 during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Pebblebrook Hotel Trust by 3.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 135,877 shares of the real estate investment trust’s stock valued at $2,171,000 after buying an additional 4,645 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Truist Financial dropped their target price on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. StockNews.com raised shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, Pebblebrook Hotel Trust has an average rating of “Hold” and an average target price of $14.42.

Pebblebrook Hotel Trust Price Performance

NYSE:PEB opened at $12.55 on Tuesday. The stock has a 50 day moving average of $13.07 and a two-hundred day moving average of $14.25. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65. The firm has a market cap of $1.51 billion, a P/E ratio of -12.30, a price-to-earnings-growth ratio of 0.58 and a beta of 1.84. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $397.11 million during the quarter, compared to analyst estimates of $396.29 million. During the same period in the prior year, the company posted $0.62 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that Pebblebrook Hotel Trust will post 1.52 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.32%. Pebblebrook Hotel Trust’s dividend payout ratio is presently -3.92%.

Insider Buying and Selling at Pebblebrook Hotel Trust

In related news, CEO Jon E. Bortz bought 66,000 shares of the stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $11.98 per share, for a total transaction of $790,680.00. Following the acquisition, the chief executive officer now directly owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jon E. Bortz purchased 66,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $11.98 per share, for a total transaction of $790,680.00. Following the acquisition, the chief executive officer now directly owns 1,319,284 shares in the company, valued at $15,805,022.32. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Phillip M. Miller sold 3,500 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total transaction of $46,515.00. Following the transaction, 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 owned by insiders.

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.