Quest Partners LLC Takes $691,000 Position in Pebblebrook Hotel Trust (NYSE:PEB)

Quest Partners LLC purchased a new position in Pebblebrook Hotel Trust (NYSE:PEB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 52,194 shares of the real estate investment trust’s stock, valued at approximately $691,000.

Several other institutional investors have also bought and sold shares of PEB. D. E. Shaw & Co. Inc. increased its holdings in Pebblebrook Hotel Trust by 38.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock worth $26,997,000 after acquiring an additional 541,573 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Pebblebrook Hotel Trust by 1.0% during the 2nd quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock valued at $69,247,000 after buying an additional 51,677 shares in the last quarter. Blue Trust Inc. boosted its holdings in Pebblebrook Hotel Trust by 707.8% in the 2nd quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 9,740 shares during the period. GSA Capital Partners LLP grew its stake in Pebblebrook Hotel Trust by 47.4% in the 3rd quarter. GSA Capital Partners LLP now owns 223,654 shares of the real estate investment trust’s stock valued at $2,959,000 after buying an additional 71,920 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in 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 acquiring an additional 15,231 shares during the period.

Pebblebrook Hotel Trust Price Performance

PEB stock opened at $13.51 on Friday. The firm has a 50 day simple moving average of $12.84 and a two-hundred day simple moving average of $13.30. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $1.62 billion, a PE ratio of -44.83, a P/E/G ratio of 0.59 and a beta of 1.85. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. Pebblebrook Hotel Trust’s dividend payout ratio is presently -13.79%.

Insider Buying and Selling at Pebblebrook Hotel Trust

In related news, CEO Jon E. Bortz sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $21.37, for a total transaction 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. This trade represents a 0.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jon E. Bortz bought 13,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $12.68 per share, with a total value of $164,840.00. Following the transaction, the chief executive officer now directly owns 1,395,284 shares in the company, valued at $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. Company insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PEB shares. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and lifted their price target for the company from $14.75 to $15.00 in a research report on Friday. Truist Financial decreased their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Robert W. Baird cut their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. 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. Finally, 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $14.42.

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.