Pebblebrook Hotel Trust (NYSE:PEB) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,367 shares of the real estate investment trust’s stock after selling 1,826 shares during the period. Raymond James & Associates owned approximately 0.14% of Pebblebrook Hotel Trust worth $2,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Pebblebrook Hotel Trust by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,206,660 shares of the real estate investment trust’s stock valued at $35,262,000 after purchasing an additional 18,325 shares during the last quarter. Norges Bank acquired a new stake in Pebblebrook Hotel Trust in the 4th quarter valued at approximately $8,798,000. Nomura Holdings Inc. increased its holdings in Pebblebrook Hotel Trust by 44.3% in the 4th quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock valued at $8,201,000 after purchasing an additional 157,637 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Pebblebrook Hotel Trust by 6.5% in 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 purchasing an additional 15,231 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in Pebblebrook Hotel Trust by 241.7% in the 4th quarter. Jump Financial LLC now owns 234,076 shares of the real estate investment trust’s stock valued at $3,741,000 after purchasing an additional 165,576 shares during the last quarter.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 3,500 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total value of $46,515.00. Following the completion of the transaction, the director now owns 13,098 shares in the company, valued at $174,072.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jon E. Bortz acquired 66,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $11.98 per share, for a total transaction of $790,680.00. Following the completion of the purchase, the chief executive officer now directly owns 1,319,284 shares of the company’s stock, valued at approximately $15,805,022.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip M. Miller sold 3,500 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total transaction of $46,515.00. Following the completion of the transaction, the director now owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PEB. Truist Financial decreased their price target on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.42.

Pebblebrook Hotel Trust Stock Performance

NYSE:PEB opened at $13.30 on Tuesday. The firm has a market capitalization of $1.60 billion, a PE ratio of -13.04, a price-to-earnings-growth ratio of 0.62 and a beta of 1.84. The business’s fifty day moving average price is $13.15 and its 200 day moving average price is $14.39. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.71. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results 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). The business had revenue of $397.11 million during 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. On average, sell-side analysts anticipate that Pebblebrook Hotel Trust will post 1.53 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.30%. Pebblebrook Hotel Trust’s dividend payout ratio is presently -3.92%.

Pebblebrook Hotel Trust Company 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.