Hotchkis & Wiley Capital Management LLC Increases Stake in Pebblebrook Hotel Trust (NYSE:PEB)

Hotchkis & Wiley Capital Management LLC grew its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 950,475 shares of the real estate investment trust’s stock after buying an additional 36,270 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.79% of Pebblebrook Hotel Trust worth $12,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in Pebblebrook Hotel Trust by 707.8% in 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 last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Pebblebrook Hotel Trust by 0.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 135,174 shares of the real estate investment trust’s stock worth $1,859,000 after buying an additional 916 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Pebblebrook Hotel Trust by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the real estate investment trust’s stock valued at $833,000 after buying an additional 900 shares during the last quarter. Van ECK Associates Corp grew its holdings in Pebblebrook Hotel Trust by 7.1% during the 2nd quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock valued at $251,000 after buying an additional 1,215 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Pebblebrook Hotel Trust by 166.1% during the 2nd quarter. Victory Capital Management Inc. now owns 80,444 shares of the real estate investment trust’s stock valued at $1,106,000 after buying an additional 50,210 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Jon E. Bortz acquired 13,000 shares of the stock in a transaction on Thursday, November 21st. The stock was 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 directly owns 1,395,284 shares in the company, valued at approximately $17,692,201.12. This represents a 0.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jon E. Bortz sold 11,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $21.37, for a total value of $235,070.00. Following the completion of the transaction, the chief executive officer now directly owns 1,349,284 shares in the company, valued at approximately $28,834,199.08. This trade represents a 0.81 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Pebblebrook Hotel Trust Trading Up 5.8 %

Shares of PEB opened at $14.72 on Wednesday. The company’s fifty day simple moving average is $12.89 and its 200-day simple moving average is $13.23. The company has a market cap of $1.76 billion, a P/E ratio of -50.74, a P/E/G ratio of 0.67 and a beta of 1.87. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a twelve month low of $11.65 and a twelve month high of $16.65.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued 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 0.27%. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Analysts Set New Price Targets

Several analysts have recently issued reports on PEB shares. Wells Fargo & Company upped their price objective on Pebblebrook Hotel Trust from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 26th. Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their price target for the company from $14.75 to $15.00 in a research note on Friday, November 22nd. Robert W. Baird dropped their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Truist Financial decreased 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 research report on Monday, October 28th. Finally, StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.58.

Pebblebrook Hotel Trust Company 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.