Heitman Real Estate Securities LLC Increases Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Heitman Real Estate Securities LLC increased its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 4.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,527 shares of the real estate investment trust’s stock after purchasing an additional 4,033 shares during the quarter. Heitman Real Estate Securities LLC’s holdings in Pebblebrook Hotel Trust were worth $1,184,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Covestor Ltd increased its stake in 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 purchasing an additional 1,989 shares during the period. Quarry LP grew its stake in shares of 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 worth $62,000 after acquiring an additional 4,326 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Pebblebrook Hotel Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 1,212 shares during the period. FMR LLC boosted its holdings in Pebblebrook Hotel Trust by 10.8% in the third quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 884 shares during the period. Finally, FORA Capital LLC acquired a new stake in Pebblebrook Hotel Trust in the 3rd quarter valued at about $133,000.

Pebblebrook Hotel Trust Stock Up 0.3 %

Shares of PEB stock opened at $13.90 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 1 year low of $11.65 and a 1 year high of $16.65. The stock has a fifty day moving average price of $12.87 and a 200 day moving average price of $13.23.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently disclosed 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 of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.29%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -13.79%.

Insider Activity at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz purchased 13,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost of $12.68 per share, for a total transaction of $164,840.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,395,284 shares in the company, valued at $17,692,201.12. This represents a 0.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jon E. Bortz sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 of the company’s stock, 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PEB. 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 note on Tuesday, November 26th. Truist Financial reduced 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 report on Monday, October 28th. Compass Point raised Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, November 21st. Stifel Nicolaus raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and lifted their price target for the stock from $14.75 to $15.00 in a report on Friday, November 22nd. Finally, Robert W. Baird lowered their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Pebblebrook Hotel Trust currently has a consensus rating of “Hold” and an average target price of $14.58.

Pebblebrook Hotel Trust 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.