Intech Investment Management LLC Purchases Shares of 30,476 Pebblebrook Hotel Trust (NYSE:PEB)

Intech Investment Management LLC acquired a new position in shares of Pebblebrook Hotel Trust (NYSE:PEB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 30,476 shares of the real estate investment trust’s stock, valued at approximately $403,000.

Several other hedge funds have also made changes to their positions in the stock. Blue Trust Inc. raised 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 valued at $153,000 after acquiring an additional 9,740 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 0.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 135,174 shares of the real estate investment trust’s stock worth $1,859,000 after acquiring an additional 916 shares during the period. Louisiana State Employees Retirement System increased its stake in Pebblebrook Hotel Trust by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the real estate investment trust’s stock valued at $833,000 after acquiring an additional 900 shares during the period. Van ECK Associates Corp raised its position in Pebblebrook Hotel Trust by 7.1% in the second quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 1,215 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Pebblebrook Hotel Trust by 166.1% during the second quarter. Victory Capital Management Inc. now owns 80,444 shares of the real estate investment trust’s stock worth $1,106,000 after purchasing an additional 50,210 shares during the period.

Insider Buying and Selling

In related news, CEO Jon E. Bortz sold 11,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $21.37, for a total value of $235,070.00. Following the sale, the chief executive officer now directly owns 1,349,284 shares of the company’s stock, valued at approximately $28,834,199.08. The trade was a 0.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jon E. Bortz bought 13,000 shares of the stock in a transaction on Thursday, November 21st. The shares were purchased at an average price of $12.68 per share, with a total value of $164,840.00. Following the acquisition, the chief executive officer now owns 1,395,284 shares in the company, valued at approximately $17,692,201.12. This represents a 0.94 % increase in their position. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by company insiders.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE:PEB opened at $13.90 on Tuesday. The firm’s 50 day simple moving average is $12.87 and its 200 day simple moving average is $13.23. Pebblebrook Hotel Trust has a fifty-two week low of $11.65 and a fifty-two week high of $16.65. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -47.91, a P/E/G ratio of 0.67 and a beta of 1.85. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -13.79%.

Analysts Set New Price Targets

PEB has been the topic of several analyst reports. Truist Financial lowered their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Robert W. Baird decreased their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company upped their target price on shares of Pebblebrook Hotel Trust from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 26th. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Finally, Compass Point raised Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.58.

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.