Envestnet Asset Management Inc. Has $4.47 Million Position in Pebblebrook Hotel Trust (NYSE:PEB)

Envestnet Asset Management Inc. boosted its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,708 shares of the real estate investment trust’s stock after buying an additional 1,517 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.27% of Pebblebrook Hotel Trust worth $4,471,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PEB. Harbor Investment Advisory LLC raised its holdings in Pebblebrook Hotel Trust by 40.1% in the 2nd quarter. Harbor Investment Advisory LLC now owns 2,649 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 758 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Pebblebrook Hotel Trust by 46.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,803 shares of the real estate investment trust’s stock valued at $95,000 after buying an additional 2,147 shares during the last quarter. Assetmark Inc. raised its holdings in Pebblebrook Hotel Trust by 36.0% in the 1st quarter. Assetmark Inc. now owns 8,104 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 2,145 shares during the last quarter. XTX Topco Ltd bought a new position in Pebblebrook Hotel Trust in the 1st quarter valued at approximately $142,000. Finally, Journey Strategic Wealth LLC bought a new position in Pebblebrook Hotel Trust during the 1st quarter worth approximately $152,000.

Insider Transactions at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 16,000 shares of the stock in a transaction dated Monday, November 13th. The shares were bought at an average cost of $16.36 per share, for a total transaction of $261,760.00. Following the purchase, the chief executive officer now directly owns 22,000 shares of the company’s stock, valued at approximately $359,920. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Jon E. Bortz acquired 13,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average cost of $16.53 per share, for a total transaction of $214,890.00. Following the purchase, the chief executive officer now owns 9,000 shares of the company’s stock, valued at approximately $148,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon E. Bortz acquired 16,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price of $16.36 per share, for a total transaction of $261,760.00. Following the completion of the purchase, the chief executive officer now directly owns 22,000 shares in the company, valued at approximately $359,920. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust Stock Performance

NYSE PEB opened at $12.70 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.53 billion, a P/E ratio of -13.51, a PEG ratio of 0.59 and a beta of 1.86. The company has a fifty day simple moving average of $13.06 and a 200 day simple moving average of $13.77. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $17.38.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend was Thursday, September 28th. Pebblebrook Hotel Trust’s dividend payout ratio is -4.26%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wedbush assumed coverage on shares of Pebblebrook Hotel Trust in a report on Tuesday, October 3rd. They set a “neutral” rating and a $14.00 price target for the company. Morgan Stanley lowered their price target on shares of Pebblebrook Hotel Trust from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Tuesday, November 7th. Wolfe Research assumed coverage on shares of Pebblebrook Hotel Trust in a report on Wednesday, September 27th. They set a “peer perform” rating for the company. Truist Financial restated a “hold” rating and set a $16.00 price target on shares of Pebblebrook Hotel Trust in a report on Friday, September 22nd. Finally, StockNews.com began coverage on shares of Pebblebrook Hotel Trust in a research report on Thursday, October 5th. They set a “sell” rating for the company. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $14.69.

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.