Pebblebrook Hotel Trust (NYSE:PEB - Get Rating) CEO Jon E. Bortz bought 14,000 shares of the business's stock in a transaction dated Thursday, March 16th. The shares were bought at an average price of $13.62 per share, with a total value of $190,680.00. Following the purchase, the chief executive officer now owns 1,108,102 shares in the company, valued at approximately $15,092,349.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Pebblebrook Hotel Trust Trading Down 2.9 %
Shares of PEB traded down $0.40 during midday trading on Friday, hitting $13.20. The company's stock had a trading volume of 26,998,268 shares, compared to its average volume of 2,845,375. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.77. Pebblebrook Hotel Trust has a one year low of $12.54 and a one year high of $26.14. The company's fifty day simple moving average is $14.97 and its two-hundred day simple moving average is $15.37.
Pebblebrook Hotel Trust (NYSE:PEB - Get Rating) last released its earnings results on Tuesday, February 21st. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.52). The business had revenue of $319.61 million during the quarter, compared to the consensus estimate of $309.55 million. Pebblebrook Hotel Trust had a negative net margin of 6.26% and a negative return on equity of 2.77%. The business's revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. Equities analysts predict that Pebblebrook Hotel Trust will post 1.73 EPS for the current year.
Pebblebrook Hotel Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. Pebblebrook Hotel Trust's payout ratio is presently -4.12%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. C M Bidwell & Associates Ltd. acquired a new stake in shares of Pebblebrook Hotel Trust during the 3rd quarter valued at $48,000. Neo Ivy Capital Management bought a new stake in shares of Pebblebrook Hotel Trust during the second quarter worth about $50,000. Wipfli Financial Advisors LLC acquired a new position in shares of Pebblebrook Hotel Trust in the third quarter valued at approximately $64,000. Assetmark Inc. raised its holdings in Pebblebrook Hotel Trust by 91.6% in the 3rd quarter. Assetmark Inc. now owns 4,686 shares of the real estate investment trust's stock valued at $68,000 after buying an additional 2,240 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Pebblebrook Hotel Trust during the 3rd quarter worth approximately $79,000.
Wall Street Analyst Weigh In
PEB has been the subject of several research reports. BMO Capital Markets downgraded shares of Pebblebrook Hotel Trust from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $20.00 to $18.00 in a research report on Friday, December 2nd. Wells Fargo & Company reduced their price target on Pebblebrook Hotel Trust from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, February 2nd. Raymond James cut Pebblebrook Hotel Trust from an "outperform" rating to a "market perform" rating in a research report on Friday, December 9th. TheStreet cut shares of Pebblebrook Hotel Trust from a "c-" rating to a "d+" rating in a research report on Friday, December 30th. Finally, Barclays lowered their price target on shares of Pebblebrook Hotel Trust from $22.00 to $18.00 and set an "equal weight" rating on the stock in a research report on Wednesday, December 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Pebblebrook Hotel Trust has an average rating of "Hold" and an average target price of $19.50.
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.
Further Reading
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