Truist Financial Corp Purchases 5,674 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Truist Financial Corp lifted its position in Pebblebrook Hotel Trust (NYSE:PEB) by 25.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,844 shares of the real estate investment trust’s stock after acquiring an additional 5,674 shares during the quarter. Truist Financial Corp’s holdings in Pebblebrook Hotel Trust were worth $391,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in Pebblebrook Hotel Trust by 5.5% in the 1st quarter. Van ECK Associates Corp now owns 14,205 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 735 shares during the period. Nisa Investment Advisors LLC increased its stake in Pebblebrook Hotel Trust by 1.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 59,469 shares of the real estate investment trust’s stock worth $835,000 after buying an additional 964 shares during the period. Arizona State Retirement System increased its stake in Pebblebrook Hotel Trust by 2.7% in the 1st quarter. Arizona State Retirement System now owns 38,094 shares of the real estate investment trust’s stock worth $535,000 after buying an additional 1,002 shares during the period. PNC Financial Services Group Inc. increased its stake in Pebblebrook Hotel Trust by 11.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,653 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 1,199 shares during the period. Finally, Assetmark Inc. increased its stake in Pebblebrook Hotel Trust by 27.2% in the 4th quarter. Assetmark Inc. now owns 5,959 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 1,273 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PEB shares. StockNews.com started coverage on shares of Pebblebrook Hotel Trust in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Barclays cut their target price on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 in a research report on Wednesday, July 5th. Citigroup cut their target price on shares of Pebblebrook Hotel Trust from $16.50 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, July 14th. Wells Fargo & Company raised their target price on shares of Pebblebrook Hotel Trust from $14.50 to $15.00 in a research report on Wednesday, July 12th. Finally, Morgan Stanley cut their target price on shares of Pebblebrook Hotel Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Pebblebrook Hotel Trust currently has an average rating of “Hold” and a consensus target price of $17.28.

Pebblebrook Hotel Trust Stock Down 2.2 %

Shares of Pebblebrook Hotel Trust stock opened at $13.71 on Friday. The firm’s 50 day moving average price is $14.19 and its 200-day moving average price is $14.20. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.80. Pebblebrook Hotel Trust has a 52-week low of $12.37 and a 52-week high of $19.32. The company has a market cap of $1.65 billion, a P/E ratio of -50.78, a PEG ratio of 0.65 and a beta of 1.83.

Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). The company had revenue of $384.34 million during the quarter, compared to analyst estimates of $382.65 million. Pebblebrook Hotel Trust had a return on equity of 0.20% and a net margin of 0.43%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. On average, sell-side analysts predict that Pebblebrook Hotel Trust will post 1.55 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Thursday, June 29th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -14.81%.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $14.46, for a total transaction of $144,600.00. Following the sale, the director now owns 11,657 shares of the company’s stock, valued at approximately $168,560.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 3,632 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were acquired at an average cost of $12.69 per share, with a total value of $46,090.08. Following the acquisition, the chief executive officer now directly owns 1,165,102 shares of the company’s stock, valued at $14,785,144.38. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Phillip M. Miller sold 10,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $14.46, for a total transaction of $144,600.00. Following the completion of the sale, the director now directly owns 11,657 shares in the company, valued at $168,560.22. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

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.