MQS Management LLC Purchases New Position in Pebblebrook Hotel Trust (NYSE:PEB)

MQS Management LLC bought a new stake in Pebblebrook Hotel Trust (NYSE:PEB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,199 shares of the real estate investment trust’s stock, valued at approximately $400,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 24.5% in the 3rd quarter. Victory Capital Management Inc. now owns 100,169 shares of the real estate investment trust’s stock valued at $1,325,000 after purchasing an additional 19,725 shares during the last quarter. GSA Capital Partners LLP raised its holdings 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 valued at $2,959,000 after buying an additional 71,920 shares in the last quarter. Entropy Technologies LP lifted its position in shares of Pebblebrook Hotel Trust by 110.4% in the third quarter. Entropy Technologies LP now owns 28,393 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 14,900 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Pebblebrook Hotel Trust by 3.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 298,787 shares of the real estate investment trust’s stock worth $3,953,000 after acquiring an additional 9,904 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Pebblebrook Hotel Trust by 80.1% during the 3rd quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,989 shares during the last quarter.

Analyst Upgrades and Downgrades

PEB has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Robert W. Baird lowered their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial dropped their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $14.30.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $21.37, for a total transaction of $235,070.00. Following the completion of the transaction, the chief executive officer now owns 1,349,284 shares in the company, valued at $28,834,199.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust Stock Down 0.5 %

Shares of PEB opened at $12.67 on Thursday. 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 company has a 50-day simple moving average of $12.86 and a 200-day simple moving average of $13.38. Pebblebrook Hotel Trust has a 52 week low of $11.65 and a 52 week high of $16.65. The firm has a market capitalization of $1.52 billion, a P/E ratio of -43.69, a P/E/G ratio of 0.60 and a beta of 1.85.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.32%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -13.79%.

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.