Nomura Asset Management Co. Ltd. Lowers Stock Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Nomura Asset Management Co. Ltd. lessened its position in Pebblebrook Hotel Trust (NYSE:PEB) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 149,400 shares of the real estate investment trust’s stock after selling 2,900 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.12% of Pebblebrook Hotel Trust worth $1,977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd grew its position in Pebblebrook Hotel Trust by 80.1% in the 3rd quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,989 shares in the last quarter. Quarry LP grew its holdings in shares of Pebblebrook Hotel Trust by 2,376.9% in the second quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 4,326 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Pebblebrook Hotel Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 1,212 shares during the period. FMR LLC increased its stake in Pebblebrook Hotel Trust by 10.8% during the 3rd quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock worth $120,000 after buying an additional 884 shares during the period. Finally, FORA Capital LLC acquired a new stake in Pebblebrook Hotel Trust during the 3rd quarter worth approximately $133,000.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PEB. Stifel Nicolaus raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.75 to $15.00 in a research report on Friday, November 22nd. Wells Fargo & Company upped their price target on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. StockNews.com lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Compass Point upgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a research note on Thursday, November 21st. Finally, Robert W. Baird decreased their price target 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Pebblebrook Hotel Trust currently has a consensus rating of “Hold” and an average price target of $14.92.

Insiders Place Their Bets

In other news, CEO Jon E. Bortz bought 13,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $12.68 per share, for a total transaction of $164,840.00. Following the completion of the transaction, the chief executive officer now owns 1,395,284 shares of the company’s stock, valued at approximately $17,692,201.12. This trade represents a 0.94 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 completion of the sale, the chief executive officer now directly owns 1,349,284 shares of the company’s stock, valued at $28,834,199.08. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.

Pebblebrook Hotel Trust Trading Down 0.3 %

PEB opened at $14.49 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. Pebblebrook Hotel Trust has a one year low of $11.65 and a one year high of $16.65. The company has a market cap of $1.73 billion, a P/E ratio of -49.96, a PEG ratio of 0.71 and a beta of 1.87. The business’s 50-day simple moving average is $13.11 and its 200-day simple moving average is $13.25.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.28%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -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.