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Pebblebrook Hotel Trust (NYSE:PEB) Chairman and CEO Jon E. Bortz made a notable acquisition of company stock, according to a recent SEC filing. On June 6, Bortz purchased 5,000 common shares at a price of $9.50 each, amounting to a total transaction value of $47,500. The purchase comes as the stock trades near $9.61, down over 36% in the past six months. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics. Following this purchase, Bortz directly owns a total of 1,607,110 common shares.
In addition to his direct holdings, Bortz indirectly holds 200,000 common shares through his wife, though he disclaims beneficial ownership of these shares. He also owns 18,000 shares of the company’s 5.70% Series H Preferred Shares.
The filing also notes Bortz’s ownership of 516,131 LTIP Class B Units, which are restricted units of limited partnership interest in Pebblebrook Hotel, L.P., the operating partnership of which Pebblebrook Hotel Trust is the general partner. These units can be exchanged for common shares or their cash equivalent, as per the terms of the partnership agreement.
In other recent news, Pebblebrook Hotel Trust reported its first-quarter 2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of -$0.37, compared to the forecast of -$0.39. The company also exceeded revenue forecasts, reporting $320.27 million against an expected $312.38 million. These results highlight a strong performance for Pebblebrook, with significant improvements in several key financial metrics. In addition to the earnings report, Stifel analysts reiterated their Buy rating on Pebblebrook Hotel Trust stock, maintaining a price target of $9.03, reflecting confidence in the company’s market position and growth potential. Meanwhile, Truist Securities adjusted its stance by lowering the price target for Pebblebrook to $9 from $10, maintaining a Hold rating due to concerns about city-specific challenges and summer leisure trends. Despite these challenges, Pebblebrook continues to attract attention from investors and analysts as it navigates the current economic landscape. The company also completed a $15 million renovation of the Hyatt Centric in Santa Monica, indicating ongoing investment in its property portfolio.
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