Connable Office Inc. Reduces Stake in Pebblebrook Hotel Trust (NYSE:PEB)

Connable Office Inc. reduced its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,741 shares of the real estate investment trust’s stock after selling 1,338 shares during the period. Connable Office Inc.’s holdings in Pebblebrook Hotel Trust were worth $381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in Pebblebrook Hotel Trust by 166.1% in the second quarter. Victory Capital Management Inc. now owns 80,444 shares of the real estate investment trust’s stock valued at $1,106,000 after acquiring an additional 50,210 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Pebblebrook Hotel Trust by 7.1% in the second quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 1,215 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Pebblebrook Hotel Trust by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the real estate investment trust’s stock valued at $833,000 after acquiring an additional 900 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Pebblebrook Hotel Trust by 0.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 135,174 shares of the real estate investment trust’s stock valued at $1,859,000 after purchasing an additional 916 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Pebblebrook Hotel Trust by 707.8% during the 2nd quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 9,740 shares during the last quarter.

Pebblebrook Hotel Trust Stock Up 0.3 %

NYSE:PEB opened at $12.45 on Monday. The firm’s fifty day simple moving average is $13.08 and its 200-day simple moving average 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 0.78. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.42). Pebblebrook Hotel Trust had a negative return on equity of 3.40% and a negative net margin of 6.75%. The firm had revenue of $397.11 million during the quarter, compared to analyst estimates of $396.29 million. During the same quarter in the prior year, the company earned $0.62 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts predict that Pebblebrook Hotel Trust will post 1.52 earnings per share for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Friday, June 28th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -3.92%.

Analyst Ratings Changes

A number of research firms recently issued reports on PEB. StockNews.com raised Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Thursday. Truist Financial dropped their price objective on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.42.

Insider Activity

In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 3,500 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total value of $46,515.00. Following the transaction, the director now directly owns 13,098 shares in the company, valued at approximately $174,072.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 22,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $12.21 per share, for a total transaction of $268,620.00. Following the acquisition, the chief executive officer now directly owns 1,341,284 shares of the company’s stock, valued at $16,377,077.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip M. Miller sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total transaction of $46,515.00. Following the completion of the sale, the director now directly owns 13,098 shares in the company, valued at $174,072.42. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust 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.