BNP Paribas Financial Markets Cuts Stake in Pebblebrook Hotel Trust (NYSE:PEB)

BNP Paribas Financial Markets lessened its holdings in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 99.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,422 shares of the real estate investment trust's stock after selling 32,809,332 shares during the period. BNP Paribas Financial Markets' holdings in Pebblebrook Hotel Trust were worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of PEB. Covestor Ltd raised its position in Pebblebrook Hotel Trust by 80.1% in the third quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 1,989 shares during the period. Quarry LP grew its stake in shares of Pebblebrook Hotel Trust by 2,376.9% in the second quarter. Quarry LP now owns 4,508 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 4,326 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Pebblebrook Hotel Trust by 35.0% in the 3rd 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 buying an additional 1,212 shares during the period. FMR LLC lifted its stake in Pebblebrook Hotel Trust by 10.8% during the 3rd quarter. FMR LLC now owns 9,069 shares of the real estate investment trust's stock worth $120,000 after acquiring an additional 884 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings 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 valued at $153,000 after acquiring an additional 9,740 shares during the period.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages have recently issued reports on PEB. Robert W. Baird reduced their price target on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Truist Financial reduced their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a "hold" rating on the stock in a report on Monday, October 28th. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a "hold" rating to a "buy" rating and boosted their price target for the stock from $14.75 to $15.00 in a research note on Friday, November 22nd. Compass Point raised Pebblebrook Hotel Trust from a "neutral" rating to a "buy" rating and set a $17.00 price objective on the stock in a research report on Thursday, November 21st. Finally, Wells Fargo & Company lifted their target price on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, December 9th. 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.92.

Pebblebrook Hotel Trust Stock Down 0.3 %

Shares of NYSE:PEB traded down $0.04 during trading on Friday, hitting $14.49. 1,006,338 shares of the company were exchanged, compared to its average volume of 1,676,865. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81. The firm's 50 day moving average price is $13.11 and its 200-day moving average price is $13.25. The stock has a market capitalization of $1.73 billion, a P/E ratio of -49.96, a PEG ratio of 0.71 and a beta of 1.87. Pebblebrook Hotel Trust has a 12-month low of $11.65 and a 12-month high of $16.65.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.28%. Pebblebrook Hotel Trust's dividend payout ratio is presently -13.79%.

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.