Covestor Ltd Grows Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Covestor Ltd raised its position in Pebblebrook Hotel Trust (NYSE:PEB) by 54.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,645 shares of the real estate investment trust’s stock after buying an additional 11,928 shares during the period. Pebblebrook Hotel Trust makes up about 0.4% of Covestor Ltd’s holdings, making the stock its 19th biggest holding. Covestor Ltd’s holdings in Pebblebrook Hotel Trust were worth $469,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Pebblebrook Hotel Trust by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,151 shares of the real estate investment trust’s stock valued at $1,179,000 after purchasing an additional 4,591 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of Pebblebrook Hotel Trust by 3.7% during the first quarter. Great West Life Assurance Co. Can now owns 176,918 shares of the real estate investment trust’s stock worth $4,475,000 after buying an additional 6,388 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Pebblebrook Hotel Trust by 1.2% in the first quarter. Vanguard Group Inc. now owns 19,551,178 shares of the real estate investment trust’s stock worth $478,613,000 after buying an additional 226,216 shares during the last quarter. Federated Hermes Inc. raised its holdings in Pebblebrook Hotel Trust by 5.5% in the first quarter. Federated Hermes Inc. now owns 30,800 shares of the real estate investment trust’s stock valued at $754,000 after acquiring an additional 1,607 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Pebblebrook Hotel Trust during the 1st quarter valued at $237,000.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB stock traded down $0.30 during trading hours on Tuesday, reaching $12.40. The stock had a trading volume of 316,403 shares, compared to its average volume of 2,285,008. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day simple moving average of $13.06 and a 200-day simple moving average of $13.77. The firm has a market capitalization of $1.49 billion, a PE ratio of -13.51, a price-to-earnings-growth ratio of 0.59 and a beta of 1.86. Pebblebrook Hotel Trust has a twelve month low of $11.39 and a twelve month high of $17.38.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -4.26%.

Analyst Upgrades and Downgrades

PEB has been the subject of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Monday, November 13th. StockNews.com initiated coverage on Pebblebrook Hotel Trust in a report on Thursday, October 5th. They set a “sell” rating on the stock. Wolfe Research began coverage on Pebblebrook Hotel Trust in a report on Wednesday, September 27th. They issued a “peer perform” rating for the company. TheStreet lowered Pebblebrook Hotel Trust from a “c” rating to a “d” rating in a research report on Friday, October 27th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Pebblebrook Hotel Trust in a report on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.69.

Insider Activity

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 13,000 shares of Pebblebrook Hotel Trust stock in a transaction on Friday, November 10th. The stock was bought at an average price of $16.53 per share, for a total transaction of $214,890.00. Following the transaction, the chief executive officer now owns 9,000 shares of the company’s stock, valued at approximately $148,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jon E. Bortz bought 13,000 shares of the stock in a transaction on Friday, November 10th. The shares were purchased at an average price of $16.53 per share, with a total value of $214,890.00. Following the purchase, the chief executive officer now owns 9,000 shares in the company, valued at $148,770. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jon E. Bortz purchased 16,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were bought at an average price of $16.36 per share, for a total transaction of $261,760.00. Following the completion of the transaction, the chief executive officer now directly owns 22,000 shares in the company, valued at approximately $359,920. The disclosure for this purchase can be found here. Corporate insiders own 2.40% 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.