William Blair Investment Management LLC Sells 1,184,343 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

William Blair Investment Management LLC lessened its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 35.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,174,815 shares of the real estate investment trust’s stock after selling 1,184,343 shares during the period. William Blair Investment Management LLC owned approximately 1.80% of Pebblebrook Hotel Trust worth $29,904,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Securities Inc. bought a new position in shares of Pebblebrook Hotel Trust in the 4th quarter worth $64,000. Blue Trust Inc. increased its holdings in shares of 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 last quarter. Quest Partners LLC bought a new position in shares of Pebblebrook Hotel Trust in the 4th quarter worth $157,000. Van ECK Associates Corp increased its holdings in shares of Pebblebrook Hotel Trust by 7.1% in the 2nd quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock worth $251,000 after buying an additional 1,215 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Pebblebrook Hotel Trust in the 4th quarter worth $266,000.

Insider Buying and Selling at Pebblebrook Hotel Trust

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

Pebblebrook Hotel Trust Price Performance

Shares of Pebblebrook Hotel Trust stock opened at $12.97 on Monday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -12.72, a price-to-earnings-growth ratio of 0.59 and a beta of 1.84. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.71 and a current ratio of 0.71. The company has a fifty day moving average of $13.04 and a 200-day moving average of $14.16. Pebblebrook Hotel Trust has a 52-week low of $11.39 and a 52-week high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.42). The firm 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 company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. Equities research analysts expect that Pebblebrook Hotel Trust will post 1.51 EPS for the current year.

Analyst Upgrades and Downgrades

PEB has been the topic of a number of research analyst reports. StockNews.com raised shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. Truist Financial cut their price objective on shares of 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 cut their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.92.

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.