Geode Capital Management LLC Has $40.27 Million Position in Pebblebrook Hotel Trust (NYSE:PEB)

Geode Capital Management LLC boosted its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,043,473 shares of the real estate investment trust’s stock after buying an additional 28,871 shares during the quarter. Geode Capital Management LLC’s holdings in Pebblebrook Hotel Trust were worth $40,272,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Covestor Ltd raised its position in shares of Pebblebrook Hotel Trust by 80.1% during the third quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock worth $59,000 after acquiring an additional 1,989 shares during the last quarter. Quarry LP lifted its position in Pebblebrook Hotel Trust by 2,376.9% during the 2nd quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 4,326 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Pebblebrook Hotel Trust by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,212 shares during 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 during the third quarter worth approximately $133,000.

Insiders Place Their Bets

In related news, CEO Jon E. Bortz sold 11,000 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 1,349,284 shares of the company’s stock, valued at approximately $28,834,199.08. This represents a 0.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon E. Bortz purchased 13,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $12.68 per share, for a total transaction of $164,840.00. Following the purchase, the chief executive officer now directly owns 1,395,284 shares in the company, valued at approximately $17,692,201.12. This trade represents a 0.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust Stock Up 1.7 %

Shares of Pebblebrook Hotel Trust stock opened at $13.75 on Wednesday. The company has a market capitalization of $1.65 billion, a P/E ratio of -47.41, a price-to-earnings-growth ratio of 0.69 and a beta of 1.87. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $13.24 and a two-hundred day moving average of $13.23. Pebblebrook Hotel Trust has a 1 year low of $11.65 and a 1 year high of $16.65.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.29%. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Truist Financial dropped their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, October 28th. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and raised their target price for the stock from $14.75 to $15.00 in a report on Friday, November 22nd. 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. Finally, Wells Fargo & Company increased their price target on shares of Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Pebblebrook Hotel Trust currently has an average rating of “Hold” and an average target price of $14.92.

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.