Pebblebrook Hotel Trust (NYSE:PEB) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,359,158 shares of the real estate investment trust’s stock after selling 112,987 shares during the period. William Blair Investment Management LLC owned 2.79% of Pebblebrook Hotel Trust worth $51,765,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB lifted its stake in shares of Pebblebrook Hotel Trust by 54.9% in the 4th quarter. Nordea Investment Management AB now owns 317,276 shares of the real estate investment trust’s stock valued at $5,122,000 after purchasing an additional 112,472 shares in the last quarter. Phocas Financial Corp. lifted its stake in shares of Pebblebrook Hotel Trust by 437.3% in the 4th quarter. Phocas Financial Corp. now owns 220,570 shares of the real estate investment trust’s stock valued at $3,525,000 after purchasing an additional 179,518 shares in the last quarter. Nomura Holdings Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 44.3% in the 4th quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock valued at $8,201,000 after purchasing an additional 157,637 shares in the last quarter. Norges Bank purchased a new stake in shares of Pebblebrook Hotel Trust during the 4th quarter valued at about $8,798,000. Finally, Jump Financial LLC raised its holdings in shares of Pebblebrook Hotel Trust by 241.7% during the 4th quarter. Jump Financial LLC now owns 234,076 shares of the real estate investment trust’s stock valued at $3,741,000 after buying an additional 165,576 shares during the period.

Insider Activity

In other news, CEO Jon E. Bortz purchased 17,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of $13.67 per share, for a total transaction of $232,390.00. Following the acquisition, the chief executive officer now owns 1,208,284 shares of the company’s stock, valued at $16,517,242.28. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Jon E. Bortz purchased 17,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of $13.67 per share, for a total transaction of $232,390.00. Following the acquisition, the chief executive officer now owns 1,208,284 shares of the company’s stock, valued at $16,517,242.28. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Phillip M. Miller sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total value of $46,515.00. Following the transaction, the director now owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Compass Point reiterated a “neutral” rating and set a $17.00 target price on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Truist Financial dropped their target price on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Finally, StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.42.

Pebblebrook Hotel Trust Stock Up 0.7 %

PEB stock traded up $0.10 during midday trading on Wednesday, hitting $14.16. 1,703,269 shares of the company’s stock were exchanged, compared to its average volume of 1,521,416. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65. The firm has a 50 day moving average price of $13.96 and a 200-day moving average price of $14.98. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -14.02, a price-to-earnings-growth ratio of 0.65 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.48). Pebblebrook Hotel Trust had a negative return on equity of 2.88% and a negative net margin of 5.84%. The business had revenue of $314.10 million for the quarter, compared to analysts’ expectations of $304.34 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Pebblebrook Hotel Trust’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, analysts anticipate that Pebblebrook Hotel Trust will post 1.48 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -3.92%.

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.