Pebblebrook Hotel Trust CEO Buys 5,100 Shares

The REIT earned 43 cents per share during the third quarter

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Nov 02, 2015
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Jon Bortz (Insider Trades), CEO, president and chairman of Pebblebrook Hotel Trust (PEB), bought 5,100 shares of the company on Oct. 27. The price per share was $33.00, for a total transaction cost of $168,300. Pebblebrook Hotel Trust is an REIT organized to acquire and invest primarily in upscale, full-service hotels located in urban markets in major gateway cities. The company has a market cap of $2.48 billion and a P/S ratio of 3.32.

There were no insider transactions with PEB from 2012 to May 2014. The number and volume of insider buys for the company increased to two transactions totaling 6,267 shares, and insider sells also amounted to two transactions of 46,985 shares. Bortz bought 155,200 shares of the company in five transactions since December 2009. His earliest transaction with the company increased by 70% since then. The month-end price for PEB decreased by about $10 a share from February to November 2015, which correlates to around a five-fold increase in insider buy volume during the same period of time. 02May2017190420.png 02May2017190421.png For more information about insider trades with PEB, click here.

The company reported net income of $31.6 million, or 43 cents per share in the third quarter of 2015. This is up from a net income of $23.7 million, or 36 cents per share in the year-ago quarter. Total revenue for the company was $216.321 million in the third quarter of 2015. Annual revenue increased 68.32% since 2010. 02May2017190421.png Annual net income also follows the increasing trend for the same period of time. 02May2017190422.png Bortz said the company is extremely pleased with the asset management team’s efforts to improve profitability and cash flows, and that same-property EBITDA for the company’s portfolio increased 8.6% in the third quarter. Pebblebrook Hotel Trust also announced a quarter cash dividend of 31 cents per common share payable on Oct. 15 to shareholders of record as of Sept. 30. According to the statement from the company, the common dividend represents an annualized yield of about 3.2% based on the closing price of common shares on Sept. 14. Dividends per share for the company increased 54.67% since 2010. 02May2017190422.png

Manning & Napier Advisors bought 95,508 shares of the company during the third quarter for an average per share price of $40.16. This transaction increased their stake in Pebblebrook Hotel Trust by 92.07%. The total estimated gain of the holding since the first quarter of 2010 is 56%. For more information about guru trades with PEB, click here.

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