Public Sector Pension Investment Board Sells 9,500 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Public Sector Pension Investment Board reduced its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,653 shares of the real estate investment trust’s stock after selling 9,500 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of Pebblebrook Hotel Trust worth $3,382,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEB. Asset Management One Co. Ltd. increased its stake in Pebblebrook Hotel Trust by 0.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 174,841 shares of the real estate investment trust’s stock valued at $2,313,000 after buying an additional 866 shares during the last quarter. FMR LLC raised its holdings in Pebblebrook Hotel Trust by 10.8% during the third quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 884 shares in the last quarter. Atria Investments Inc boosted its position in Pebblebrook Hotel Trust by 2.2% during the third quarter. Atria Investments Inc now owns 40,897 shares of the real estate investment trust’s stock valued at $541,000 after purchasing an additional 889 shares during the last quarter. Louisiana State Employees Retirement System grew 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 purchasing an additional 900 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position 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 purchasing an additional 916 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.75 to $15.00 in a research note on Friday, November 22nd. Compass Point upgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, November 21st. Truist Financial lowered their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Finally, Robert W. Baird reduced their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.58.

Pebblebrook Hotel Trust Trading Up 5.8 %

Shares of PEB stock opened at $14.72 on Wednesday. The company has a market capitalization of $1.76 billion, a PE ratio of -50.74, a price-to-earnings-growth ratio of 0.67 and a beta of 1.87. 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 12-month low of $11.65 and a 12-month high of $16.65. The firm has a 50 day moving average price of $12.89 and a two-hundred day moving average price of $13.23.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Monday, September 30th. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Insider Transactions at Pebblebrook Hotel Trust

In other news, 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 sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jon E. Bortz acquired 13,000 shares of Pebblebrook Hotel Trust stock in a transaction on Thursday, November 21st. The shares were purchased at an average price of $12.68 per share, for a total transaction of $164,840.00. Following the completion of the purchase, the chief executive officer now directly owns 1,395,284 shares of the company’s stock, valued at approximately $17,692,201.12. This represents a 0.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

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.