Virtu Financial LLC Acquires Shares of 15,543 Pebblebrook Hotel Trust (NYSE:PEB)

Posted by Defense World Staff on Jul 27th, 2023

Virtu Financial LLC acquired a new stake in Pebblebrook Hotel Trust (NYSE:PEB – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,543 shares of the real estate investment trust’s stock, valued at approximately $218,000.

Other hedge funds also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 243.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 4,746,603 shares of the real estate investment trust’s stock worth $63,557,000 after buying an additional 3,363,156 shares during the period. Norges Bank purchased a new stake in shares of Pebblebrook Hotel Trust in the 4th quarter worth $14,624,000. PGGM Investments purchased a new stake in shares of Pebblebrook Hotel Trust during the 4th quarter worth $11,700,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 17.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,028,744 shares of the real estate investment trust’s stock worth $67,335,000 after purchasing an additional 745,663 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Pebblebrook Hotel Trust by 17.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,424,073 shares of the real estate investment trust’s stock worth $59,239,000 after purchasing an additional 669,894 shares during the last quarter.

Pebblebrook Hotel Trust Stock Up 1.4 %

Pebblebrook Hotel Trust stock opened at $14.24 on Thursday. Pebblebrook Hotel Trust has a 52 week low of $12.37 and a 52 week high of $20.54. The business’s 50-day moving average price is $13.83 and its 200 day moving average price is $14.27. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.79.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Thursday, June 29th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -10.26%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEB. StockNews.com upgraded Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Truist Financial reduced their target price on Pebblebrook Hotel Trust from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Thursday, April 13th. Citigroup reduced their target price on Pebblebrook Hotel Trust from $16.50 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, July 14th. Wells Fargo & Company upped their target price on Pebblebrook Hotel Trust from $14.50 to $15.00 in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus upped their target price on Pebblebrook Hotel Trust from $15.25 to $15.50 in a research report on Thursday, April 27th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.39.

Insiders Place Their Bets

In other news, CEO Jon E. Bortz bought 28,000 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were acquired at an average price of $12.84 per share, for a total transaction of $359,520.00. Following the completion of the transaction, the chief executive officer now directly owns 1,150,102 shares in the company, valued at approximately $14,767,309.68. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Jon E. Bortz acquired 28,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Tuesday, June 20th. The shares were purchased at an average price of $12.84 per share, for a total transaction of $359,520.00. Following the completion of the transaction, the chief executive officer now owns 1,150,102 shares in the company, valued at approximately $14,767,309.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon E. Bortz acquired 3,632 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Thursday, June 22nd. The shares were bought at an average price of $12.69 per share, for a total transaction of $46,090.08. Following the transaction, the chief executive officer now owns 1,165,102 shares of the company’s stock, valued at approximately $14,785,144.38. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by company insiders.

Pebblebrook Hotel Trust Company Profile

(Free Report)

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 49 hotels and resorts, totaling approximately 12,500 guest rooms across 14 urban and resort markets.