Squarepoint Ops LLC Purchases New Shares in Pebblebrook Hotel Trust (NYSE:PEB)

Squarepoint Ops LLC acquired a new position in Pebblebrook Hotel Trust (NYSE:PEB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 29,019 shares of the real estate investment trust’s stock, valued at approximately $399,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can increased 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 worth $25,841,000 after buying an additional 759,964 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Pebblebrook Hotel Trust by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,747,195 shares of the real estate investment trust’s stock worth $24,023,000 after purchasing an additional 41,659 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Pebblebrook Hotel Trust by 2.1% in the second quarter. Envestnet Asset Management Inc. now owns 580,423 shares of the real estate investment trust’s stock worth $7,981,000 after purchasing an additional 12,155 shares in the last quarter. Nomura Holdings Inc. lifted its position in shares of Pebblebrook Hotel Trust by 44.3% during the fourth quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock worth $8,201,000 after acquiring an additional 157,637 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Pebblebrook Hotel Trust by 7.4% during the second quarter. Public Sector Pension Investment Board now owns 265,153 shares of the real estate investment trust’s stock worth $3,646,000 after acquiring an additional 18,159 shares in the last quarter.

Analyst Ratings Changes

PEB has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.90.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE PEB opened at $12.85 on Friday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -12.59, a P/E/G ratio of 0.62 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 has a 1-year low of $11.39 and a 1-year high of $16.65. The stock’s 50-day moving average is $12.94 and its 200 day moving average is $13.84.

Pebblebrook Hotel Trust (NYSE:PEB) last released 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). The company had revenue of $397.11 million for the quarter, compared to analysts’ expectations of $396.29 million. Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. On average, sell-side analysts anticipate that Pebblebrook Hotel Trust will post 1.52 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Monday, September 30th. Pebblebrook Hotel Trust’s payout ratio is -3.92%.

Insider Activity at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz bought 22,000 shares of Pebblebrook Hotel Trust stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $12.21 per share, for a total transaction of $268,620.00. Following the acquisition, the chief executive officer now owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Jon E. Bortz bought 66,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $11.98 per share, with a total value of $790,680.00. Following the completion of the purchase, the chief executive officer now owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jon E. Bortz purchased 22,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $12.21 per share, with a total value of $268,620.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by company 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.