Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Pebblebrook Hotel Trust (NYSE:PEB)

Mirae Asset Global Investments Co. Ltd. raised its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 35.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,677 shares of the real estate investment trust’s stock after purchasing an additional 1,212 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Pebblebrook Hotel Trust were worth $63,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEB. Daiwa Securities Group Inc. grew its stake in shares of Pebblebrook Hotel Trust by 7.4% during the first quarter. Daiwa Securities Group Inc. now owns 39,147 shares of the real estate investment trust’s stock worth $603,000 after acquiring an additional 2,708 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in shares of Pebblebrook Hotel Trust by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 105,462 shares of the real estate investment trust’s stock worth $1,625,000 after acquiring an additional 1,413 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Pebblebrook Hotel Trust by 350.3% during the first quarter. SG Americas Securities LLC now owns 56,913 shares of the real estate investment trust’s stock worth $877,000 after acquiring an additional 44,273 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Pebblebrook Hotel Trust by 7.4% during the first quarter. ProShare Advisors LLC now owns 24,014 shares of the real estate investment trust’s stock worth $370,000 after acquiring an additional 1,661 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Pebblebrook Hotel Trust by 23.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 42,717 shares of the real estate investment trust’s stock worth $600,000 after acquiring an additional 8,020 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Robert W. Baird decreased their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Truist Financial decreased their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, October 28th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.75.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 22,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of $12.21 per share, for a total transaction of $268,620.00. Following the completion of the transaction, the chief executive officer now directly owns 1,341,284 shares of the company’s stock, valued at $16,377,077.64. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Pebblebrook Hotel Trust Trading Up 0.8 %

Shares of NYSE:PEB opened at $12.20 on Wednesday. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65. The company has a market capitalization of $1.47 billion, a PE ratio of -11.09, a PEG ratio of 0.56 and a beta of 1.85. The business has a 50 day moving average of $12.88 and a two-hundred day moving average of $13.46. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78.

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 issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Monday, September 30th. Pebblebrook Hotel Trust’s payout ratio is presently -3.64%.

About Pebblebrook Hotel Trust

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.