Nordea Investment Management AB Has $10.19 Million Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Nordea Investment Management AB boosted its position in Pebblebrook Hotel Trust (NYSE:PEB) by 90.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 746,763 shares of the real estate investment trust’s stock after buying an additional 354,116 shares during the period. Nordea Investment Management AB owned approximately 0.62% of Pebblebrook Hotel Trust worth $10,193,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Covestor Ltd lifted its stake in shares of Pebblebrook Hotel Trust by 80.1% in the 3rd quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,989 shares during the period. Quarry LP lifted its stake in Pebblebrook Hotel Trust by 2,376.9% in the second quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 4,326 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Pebblebrook Hotel Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 1,212 shares in the last quarter. FMR LLC grew its position in shares of Pebblebrook Hotel Trust by 10.8% during the 3rd quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock worth $120,000 after buying an additional 884 shares during the period. Finally, FORA Capital LLC bought a new stake in shares of Pebblebrook Hotel Trust in the 3rd quarter valued at $133,000.

Wall Street Analyst Weigh In

PEB has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on shares of Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Truist Financial cut their price objective on shares of 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 decreased their target price on 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. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.75 to $15.00 in a report on Friday, November 22nd. Finally, StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.83.

Pebblebrook Hotel Trust Price Performance

PEB stock opened at $13.00 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The business has a 50-day simple moving average of $13.47 and a two-hundred day simple moving average of $13.20. The company has a market capitalization of $1.56 billion, a P/E ratio of -44.83, a price-to-earnings-growth ratio of 0.69 and a beta of 1.86. Pebblebrook Hotel Trust has a 52-week low of $11.65 and a 52-week high of $16.65.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Insider Buying and Selling

In other news, CEO Jon E. Bortz acquired 13,000 shares of Pebblebrook Hotel Trust stock in a transaction on Thursday, November 21st. The stock was acquired at an average cost of $12.68 per share, with a total value of $164,840.00. Following the transaction, the chief executive officer now owns 1,395,284 shares of the company’s stock, valued at approximately $17,692,201.12. This trade represents a 0.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon E. Bortz sold 11,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on 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 in the company, valued at approximately $28,834,199.08. This represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate 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.