M&T Bank Corp Has $183,000 Stake in Pebblebrook Hotel Trust (NYSE:PEB)

M&T Bank Corp lifted its position in Pebblebrook Hotel Trust (NYSE:PEBGet Rating) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,069 shares of the real estate investment trust’s stock after purchasing an additional 890 shares during the quarter. M&T Bank Corp’s holdings in Pebblebrook Hotel Trust were worth $183,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PEB. Elequin Capital LP acquired a new position in shares of Pebblebrook Hotel Trust in the first quarter valued at $28,000. Meeder Asset Management Inc. acquired a new position in shares of Pebblebrook Hotel Trust in the first quarter valued at $38,000. Assetmark Inc. raised its stake in shares of Pebblebrook Hotel Trust by 148.3% in the second quarter. Assetmark Inc. now owns 2,446 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,461 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Pebblebrook Hotel Trust by 56.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,132 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 773 shares in the last quarter. Finally, Commonwealth Equity Services LLC bought a new stake in Pebblebrook Hotel Trust in the first quarter valued at $215,000.

Insider Activity

In other news, Director Phillip M. Miller sold 5,200 shares of the company’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $14.83, for a total transaction of $77,116.00. Following the transaction, the director now owns 19,953 shares of the company’s stock, valued at $295,902.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Phillip M. Miller sold 5,200 shares of the company’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $14.83, for a total transaction of $77,116.00. Following the transaction, the director now owns 19,953 shares of the company’s stock, valued at $295,902.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Phillip M. Miller sold 4,000 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $14.61, for a total value of $58,440.00. Following the transaction, the director now directly owns 15,953 shares in the company, valued at approximately $233,073.33. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Pebblebrook Hotel Trust Price Performance

Shares of PEB stock opened at $15.59 on Friday. The stock’s fifty day moving average is $15.78 and its 200-day moving average is $18.32. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $2.05 billion, a PE ratio of -14.99, a PEG ratio of 0.69 and a beta of 1.77. Pebblebrook Hotel Trust has a 52 week low of $14.01 and a 52 week high of $26.14.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Thursday, September 29th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -3.85%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Raymond James lowered their price target on Pebblebrook Hotel Trust from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 1st. Stifel Nicolaus lowered their price target on Pebblebrook Hotel Trust from $23.50 to $19.00 in a research report on Friday, September 23rd. Truist Financial lowered their price target on Pebblebrook Hotel Trust from $24.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, October 20th. Citigroup upped their price target on Pebblebrook Hotel Trust to $21.00 in a research report on Tuesday, August 9th. Finally, Compass Point lowered their price target on Pebblebrook Hotel Trust to $28.00 in a research report on Tuesday, November 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.36.

About Pebblebrook Hotel Trust

(Get Rating)

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 53 hotels, totaling approximately 13,200 guestrooms across 14 urban and resort markets, with a focus on the west coast gateway cities.

Recommended Stories

Institutional Ownership by Quarter for Pebblebrook Hotel Trust (NYSE:PEB)

Receive News & Ratings for Pebblebrook Hotel Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pebblebrook Hotel Trust and related companies with MarketBeat.com's FREE daily email newsletter.