Quantbot Technologies LP Increases Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

by · The Markets Daily

Quantbot Technologies LP grew its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB – Free Report) by 47.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 134,485 shares of the real estate investment trust’s stock after acquiring an additional 43,539 shares during the quarter. Quantbot Technologies LP’s holdings in Pebblebrook Hotel Trust were worth $1,779,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Covestor Ltd raised its position in Pebblebrook Hotel Trust by 80.1% in the 3rd quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,989 shares during the period. Quarry LP boosted its stake in shares of Pebblebrook Hotel Trust by 2,376.9% during the second quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 4,326 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Pebblebrook Hotel Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,212 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Pebblebrook Hotel Trust by 707.8% during the second quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 9,740 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Pebblebrook Hotel Trust during the second quarter valued at approximately $167,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PEB shares. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company raised their target price on shares of Pebblebrook Hotel Trust from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Tuesday. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and raised their target price for the company from $14.75 to $15.00 in a research note on Friday, November 22nd. Compass Point raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a report on Thursday, November 21st. Finally, Robert W. Baird decreased their price target on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.58.

Read Our Latest Stock Report on PEB

Insider Activity

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 13,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average cost of $12.68 per share, for a total transaction of $164,840.00. Following the completion of the transaction, the chief executive officer now owns 1,395,284 shares of the company’s stock, valued at $17,692,201.12. The trade was a 0.94 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jon E. Bortz sold 11,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $21.37, for a total transaction of $235,070.00. Following the transaction, the chief executive officer now owns 1,349,284 shares in the company, valued at $28,834,199.08. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust Stock Up 0.4 %

Shares of NYSE PEB opened at $13.85 on Friday. The company’s 50-day simple moving average is $12.87 and its 200-day simple moving average is $13.27. Pebblebrook Hotel Trust has a 52-week low of $11.65 and a 52-week high of $16.65. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -47.76, a price-to-earnings-growth ratio of 0.67 and a beta of 1.85. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.29%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -13.79%.

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 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.

Further Reading

Want to see what other hedge funds are holding PEB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pebblebrook Hotel Trust (NYSE:PEB – Free Report).