Insider Selling: Pebblebrook Hotel Trust (NYSE:PEB) CEO Sells 11,000 Shares of Stock

Pebblebrook Hotel Trust (NYSE:PEB) CEO Jon E. Bortz sold 11,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,349,284 shares in the company, valued at $28,834,199.08. The trade was a 0.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Pebblebrook Hotel Trust Trading Down 0.8 %

NYSE:PEB opened at $12.19 on Friday. The company has a 50-day moving average price of $12.85 and a 200-day moving average price of $13.37. Pebblebrook Hotel Trust has a 12 month low of $11.65 and a 12 month high of $16.65. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -42.03, a P/E/G ratio of 0.60 and a beta of 1.85.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.33%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -13.79%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Earnest Partners LLC lifted its position in Pebblebrook Hotel Trust by 1.0% during the 2nd quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock valued at $69,247,000 after acquiring an additional 51,677 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Pebblebrook Hotel Trust by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,418,159 shares of the real estate investment trust’s stock valued at $31,992,000 after acquiring an additional 130,265 shares during the period. D. E. Shaw & Co. Inc. lifted its position in Pebblebrook Hotel Trust by 38.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock valued at $26,997,000 after acquiring an additional 541,573 shares during the period. Bank of Montreal Can lifted its position in Pebblebrook Hotel Trust by 68.1% during the 2nd quarter. Bank of Montreal Can now owns 1,875,288 shares of the real estate investment trust’s stock valued at $25,841,000 after acquiring an additional 759,964 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Pebblebrook Hotel Trust by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,747,195 shares of the real estate investment trust’s stock valued at $24,023,000 after acquiring an additional 41,659 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Robert W. Baird reduced their target price 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. Truist Financial reduced 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. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company cut their price target on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.30.

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.