Quest Partners LLC Makes New $691,000 Investment in Pebblebrook Hotel Trust (NYSE:PEB)

Quest Partners LLC bought a new position in shares of Pebblebrook Hotel Trust (NYSE:PEB - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 52,194 shares of the real estate investment trust's stock, valued at approximately $691,000.

Several other large investors have also added to or reduced their stakes in the business. Bank of Montreal Can increased its position in Pebblebrook Hotel Trust by 68.1% in the second quarter. Bank of Montreal Can now owns 1,875,288 shares of the real estate investment trust's stock worth $25,841,000 after buying an additional 759,964 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Pebblebrook Hotel Trust by 38.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust's stock worth $26,997,000 after buying an additional 541,573 shares during the last quarter. GSA Capital Partners LLP increased its position in Pebblebrook Hotel Trust by 47.4% in the third quarter. GSA Capital Partners LLP now owns 223,654 shares of the real estate investment trust's stock worth $2,959,000 after buying an additional 71,920 shares during the last quarter. Earnest Partners LLC increased its position in Pebblebrook Hotel Trust by 1.0% in the second quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust's stock worth $69,247,000 after buying an additional 51,677 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position 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 worth $1,106,000 after buying an additional 50,210 shares during the last quarter.

Insider Activity

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 13,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average price of $12.68 per share, for a total transaction of $164,840.00. Following the acquisition, the chief executive officer now directly owns 1,395,284 shares in the company, valued at approximately $17,692,201.12. This trade represents a 0.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon E. Bortz sold 11,000 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $21.37, for a total value of $235,070.00. Following 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 position. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Compass Point upgraded Pebblebrook Hotel Trust from a "neutral" rating to a "buy" rating and set a $17.00 price target for the company in a research report on Thursday. StockNews.com cut Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a research report on Tuesday, October 22nd. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a "hold" rating to a "buy" rating and lifted their price target for the company from $14.75 to $15.00 in a research report on Friday. Truist Financial reduced their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a "hold" rating for the company in a research report on Monday, October 28th. Finally, Robert W. Baird reduced their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Pebblebrook Hotel Trust presently has a consensus rating of "Hold" and a consensus price target of $14.42.

Pebblebrook Hotel Trust Price Performance

PEB stock traded up $0.51 during mid-day trading on Friday, hitting $13.51. 2,013,426 shares of the stock were exchanged, compared to its average volume of 1,649,921. 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 business has a fifty day moving average price of $12.85 and a 200 day moving average price of $13.29. Pebblebrook Hotel Trust has a 12 month low of $11.65 and a 12 month high of $16.65. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -46.58, a PEG ratio of 0.62 and a beta of 1.85.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date was Monday, September 30th. Pebblebrook Hotel Trust's dividend payout ratio (DPR) 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.