abrdn plc Increases Stake in Pebblebrook Hotel Trust (NYSE:PEB)

abrdn plc lifted its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,579 shares of the real estate investment trust’s stock after buying an additional 2,281 shares during the quarter. abrdn plc’s holdings in Pebblebrook Hotel Trust were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Pebblebrook Hotel Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 1,212 shares in the last quarter. Quarry LP boosted its stake in Pebblebrook Hotel Trust by 2,376.9% during the second quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 4,326 shares in the last quarter. Algert Global LLC bought a new stake in Pebblebrook Hotel Trust during the second quarter worth about $167,000. The Manufacturers Life Insurance Company boosted its stake in Pebblebrook Hotel Trust by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 65,587 shares of the real estate investment trust’s stock worth $902,000 after acquiring an additional 2,407 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in Pebblebrook Hotel Trust by 38.1% during the second 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 in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PEB shares. Wells Fargo & Company dropped their target price on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Robert W. Baird reduced their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Truist Financial reduced their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, October 28th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.75.

Pebblebrook Hotel Trust Price Performance

PEB stock opened at $12.10 on Tuesday. Pebblebrook Hotel Trust has a 52 week low of $11.39 and a 52 week high of $16.65. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.78. The company has a fifty day simple moving average of $12.89 and a two-hundred day simple moving average of $13.48. The firm has a market capitalization of $1.46 billion, a P/E ratio of -11.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.85.

Pebblebrook Hotel Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.33%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -3.64%.

Insider Transactions at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz bought 22,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was 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 $16,377,077.64. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.

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.