Pebblebrook Hotel Trust (NYSE:PEB) Shares Purchased by Martingale Asset Management L P

Martingale Asset Management L P increased its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 14.0% during the third quarter, Holdings Channel.com reports. The fund owned 108,572 shares of the real estate investment trust’s stock after acquiring an additional 13,308 shares during the quarter. Martingale Asset Management L P’s holdings in Pebblebrook Hotel Trust were worth $1,436,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PEB. Covestor Ltd grew its holdings 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 acquiring an additional 1,989 shares during the period. Quarry LP grew 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 during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Pebblebrook Hotel Trust by 35.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,212 shares during the period. FMR LLC boosted its position in shares of Pebblebrook Hotel Trust by 10.8% in the 3rd 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 position in shares of Pebblebrook Hotel Trust in the 3rd quarter valued at $133,000.

Pebblebrook Hotel Trust Stock Performance

PEB opened at $13.85 on Monday. The stock has a market cap of $1.66 billion, a PE ratio of -47.76, a P/E/G ratio of 0.67 and a beta of 1.85. The company has a current ratio of 0.81, a quick 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’s 50 day simple moving average is $12.87 and its 200-day simple moving average is $13.24.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 dividend yield of 0.29%. The ex-dividend date was Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -13.79%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PEB. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price target for the company from $14.75 to $15.00 in a research report on Friday, November 22nd. StockNews.com lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on Pebblebrook Hotel Trust from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 26th. Truist Financial reduced their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, Compass Point upgraded Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.58.

Insider Activity at Pebblebrook Hotel Trust

In related news, CEO Jon E. Bortz purchased 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of $12.68 per share, with a total value of $164,840.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jon E. Bortz sold 11,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were 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 approximately $28,834,199.08. This represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

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.