Daiwa Securities Group Inc. lowered its stake in Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,844 shares of the real estate investment trust’s stock after selling 1,129 shares during the period. Daiwa Securities Group Inc.’s holdings in Pebblebrook Hotel Trust were worth $480,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. bought a new stake in Pebblebrook Hotel Trust in the third quarter valued at $48,000. Wipfli Financial Advisors LLC bought a new stake in Pebblebrook Hotel Trust in the third quarter valued at $64,000. Assetmark Inc. boosted its holdings in Pebblebrook Hotel Trust by 91.6% in the third quarter. Assetmark Inc. now owns 4,686 shares of the real estate investment trust’s stock valued at $68,000 after acquiring an additional 2,240 shares in the last quarter. Quantbot Technologies LP bought a new stake in Pebblebrook Hotel Trust in the third quarter valued at $79,000. Finally, XTX Topco Ltd bought a new stake in Pebblebrook Hotel Trust in the first quarter valued at $237,000.
Insiders Place Their Bets
In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 11,000 shares of the stock in a transaction dated Wednesday, March 22nd. The shares were purchased at an average cost of $12.95 per share, with a total value of $142,450.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,122,102 shares in the company, valued at approximately $14,531,220.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jon E. Bortz bought 14,000 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was acquired at an average cost of $13.62 per share, for a total transaction of $190,680.00. Following the purchase, the chief executive officer now owns 1,108,102 shares in the company, valued at $15,092,349.24. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jon E. Bortz purchased 11,000 shares of the company’s stock in a transaction dated Wednesday, March 22nd. The stock was purchased at an average price of $12.95 per share, for a total transaction of $142,450.00. Following the completion of the purchase, the chief executive officer now owns 1,122,102 shares in the company, valued at $14,531,220.90. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 39,865 shares of company stock valued at $555,064. Corporate insiders own 2.40% of the company’s stock.
Pebblebrook Hotel Trust Stock Performance
Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) last issued its earnings results on Tuesday, February 21st. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.52). The firm had revenue of $319.61 million during the quarter, compared to the consensus estimate of $309.55 million. Pebblebrook Hotel Trust had a negative return on equity of 0.34% and a negative net margin of 0.73%. The company’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.06 EPS. Sell-side analysts expect that Pebblebrook Hotel Trust will post 1.62 EPS for the current fiscal year.
Pebblebrook Hotel Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Thursday, March 30th. Pebblebrook Hotel Trust’s payout ratio is -10.26%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on PEB. Morgan Stanley cut their price target on shares of Pebblebrook Hotel Trust from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, February 7th. StockNews.com initiated coverage on shares of Pebblebrook Hotel Trust in a report on Thursday, March 16th. They issued a “sell” rating on the stock. 92 Resources restated a “maintains” rating on shares of Pebblebrook Hotel Trust in a report on Thursday, April 27th. Wells Fargo & Company dropped their target price on shares of Pebblebrook Hotel Trust from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, March 30th. Finally, Barclays dropped their target price on shares of Pebblebrook Hotel Trust from $18.00 to $16.00 in a report on Wednesday, April 26th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Pebblebrook Hotel Trust currently has a consensus rating of “Hold” and an average price target of $17.70.
Pebblebrook Hotel Trust Profile
Pebblebrook Hotel Trust is a real estate investment trust, engages in investments and acquisitions in hotel properties. Its hotels are located in markets like Atlanta, Georgia, Boston, Massachusetts, Chicago, Illinois, Key West, Miami and Naples, Florida, Los Angeles, San Diego and San Francisco, California, Nashville, Tennessee, New York, New York, Philadelphia, Pennsylvania, Portland, Oregon, and Seattle, Washington.
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