Connable Office Inc. Sells 4,948 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Connable Office Inc. reduced its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 17.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,793 shares of the real estate investment trust’s stock after selling 4,948 shares during the quarter. Connable Office Inc.’s holdings in Pebblebrook Hotel Trust were worth $302,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Metis Global Partners LLC bought a new stake in shares of Pebblebrook Hotel Trust in the third quarter valued at approximately $164,000. MQS Management LLC bought a new stake in Pebblebrook Hotel Trust during the third quarter worth $400,000. Victory Capital Management Inc. lifted its stake in Pebblebrook Hotel Trust by 24.5% during the third quarter. Victory Capital Management Inc. now owns 100,169 shares of the real estate investment trust’s stock worth $1,325,000 after purchasing an additional 19,725 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Pebblebrook Hotel Trust by 47.4% during the third quarter. GSA Capital Partners LLP now owns 223,654 shares of the real estate investment trust’s stock worth $2,959,000 after purchasing an additional 71,920 shares during the last quarter. Finally, Entropy Technologies LP lifted its stake in Pebblebrook Hotel Trust by 110.4% during the third quarter. Entropy Technologies LP now owns 28,393 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 14,900 shares during the last quarter.

Wall Street Analyst Weigh In

PEB has been the subject of several recent analyst reports. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Robert W. Baird cut 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. Truist Financial cut their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Finally, Wells Fargo & Company dropped their price target on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.30.

Insider Activity

In related 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 value of $235,070.00. Following the completion of the sale, the chief executive officer now directly owns 1,349,284 shares in the company, valued at $28,834,199.08. This represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.40% of the stock is owned by corporate insiders.

Pebblebrook Hotel Trust Stock Down 0.8 %

Shares of PEB opened at $12.19 on Friday. Pebblebrook Hotel Trust has a 52 week low of $11.65 and a 52 week high of $16.65. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -42.03, a PEG ratio of 0.60 and a beta of 1.85. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $12.85 and a 200-day moving average of $13.37.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, September 30th. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

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.