Van ECK Associates Corp Has $180,000 Stock Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Posted by Defense World Staff on May 18th, 2023

Van ECK Associates Corp lifted its holdings in Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) by 79.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,470 shares of the real estate investment trust’s stock after buying an additional 5,983 shares during the period. Van ECK Associates Corp’s holdings in Pebblebrook Hotel Trust were worth $180,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Guggenheim Capital LLC grew its position in Pebblebrook Hotel Trust by 1.2% during the third quarter. Guggenheim Capital LLC now owns 58,938 shares of the real estate investment trust’s stock worth $855,000 after buying an additional 724 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Pebblebrook Hotel Trust by 0.5% during the third quarter. Envestnet Asset Management Inc. now owns 280,528 shares of the real estate investment trust’s stock worth $4,070,000 after buying an additional 1,303 shares in the last quarter. Jane Street Group LLC grew its position in Pebblebrook Hotel Trust by 3.5% during the second quarter. Jane Street Group LLC now owns 38,154 shares of the real estate investment trust’s stock worth $632,000 after buying an additional 1,305 shares in the last quarter. Truist Financial Corp grew its position in Pebblebrook Hotel Trust by 6.5% during the third quarter. Truist Financial Corp now owns 21,875 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 1,332 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Pebblebrook Hotel Trust by 7.1% during the second quarter. AQR Capital Management LLC now owns 20,442 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 1,360 shares in the last quarter.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 14,865 shares of the company’s stock in a transaction on Wednesday, March 8th. The stock was bought at an average price of $14.93 per share, for a total transaction of $221,934.45. Following the transaction, the chief executive officer now owns 1,039,967 shares of the company’s stock, valued at approximately $15,526,707.31. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 14,865 shares of the company’s stock in a transaction on Wednesday, March 8th. The stock was bought at an average price of $14.93 per share, for a total transaction of $221,934.45. Following the transaction, the chief executive officer now owns 1,039,967 shares of the company’s stock, valued at approximately $15,526,707.31. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jon E. Bortz bought 14,000 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were acquired at an average price of $13.62 per share, with a total value of $190,680.00. Following the transaction, the chief executive officer now directly owns 1,108,102 shares in the company, valued at approximately $15,092,349.24. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 39,865 shares of company stock worth $555,064. Insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEB. Barclays decreased their price objective on Pebblebrook Hotel Trust from $18.00 to $16.00 in a report on Wednesday, April 26th. Truist Financial decreased their price objective on Pebblebrook Hotel Trust from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, April 13th. Morgan Stanley decreased their price objective on Pebblebrook Hotel Trust from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, February 7th. 92 Resources reaffirmed a “maintains” rating on shares of Pebblebrook Hotel Trust in a report on Thursday, April 27th. Finally, Citigroup lifted their price objective on Pebblebrook Hotel Trust from $15.00 to $16.50 and gave the company a “neutral” rating in a report on Wednesday, February 1st. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.70.

Pebblebrook Hotel Trust Stock Performance

PEB stock opened at $14.07 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.71 and a quick ratio of 0.71. The company has a 50 day moving average price of $13.97 and a 200 day moving average price of $14.70. Pebblebrook Hotel Trust has a fifty-two week low of $12.37 and a fifty-two week high of $24.30. The stock has a market capitalization of $1.73 billion, a PE ratio of -36.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.85.

Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The real estate investment trust reported ($0.34) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.52). Pebblebrook Hotel Trust had a negative return on equity of 0.34% and a negative net margin of 0.73%. The company had revenue of $319.61 million during the quarter, compared to the consensus estimate of $309.55 million. During the same quarter last year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. Analysts forecast that Pebblebrook Hotel Trust will post 1.62 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Friday, March 31st were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.28%. The ex-dividend date was Thursday, March 30th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -10.26%.

Pebblebrook Hotel Trust Company Profile

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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.