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

Connable Office Inc. trimmed its position in Pebblebrook Hotel Trust (NYSE:PEB) by 17.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,793 shares of the real estate investment trust’s stock after selling 4,948 shares during the period. Connable Office Inc.’s holdings in Pebblebrook Hotel Trust were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PEB. Covestor Ltd lifted its holdings in shares of Pebblebrook Hotel Trust by 80.1% in the third quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,989 shares in the last quarter. Quarry LP raised its holdings in Pebblebrook Hotel Trust by 2,376.9% during 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. raised its holdings in 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 in the last quarter. Blue Trust Inc. raised its holdings in Pebblebrook Hotel Trust by 707.8% during the second quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 9,740 shares in the last quarter. Finally, Metis Global Partners LLC bought a new stake in Pebblebrook Hotel Trust during the third quarter worth about $164,000.

Insider Activity

In other news, CEO Jon E. Bortz sold 11,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE PEB opened at $12.19 on Friday. The business’s 50 day moving average price is $12.85 and its two-hundred day moving average price is $13.37. The company has a market cap of $1.46 billion, a PE ratio of -42.03, a price-to-earnings-growth ratio of 0.60 and a beta of 1.85. 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 twelve month low of $11.65 and a twelve month high of $16.65.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -13.79%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PEB. Robert W. Baird dropped their target price on 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 dropped their target price on 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 Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company lowered their price target on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, Pebblebrook Hotel Trust presently has an average rating of “Hold” and an average price target of $14.30.

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.