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Jon E. Bortz, Chairman and CEO of Pebblebrook Hotel Trust (NYSE:PEB), recently purchased 15,000 common shares of the company, according to a filing with the Securities and Exchange Commission. The shares were acquired at a weighted average price of $11.91, with the transaction totaling approximately $178,650. The purchase comes as the stock trades near its 52-week low of $11.47, with InvestingPro analysis indicating the stock is currently undervalued. The company maintains a perfect Piotroski Score of 9, suggesting strong financial health. Following this purchase, Bortz holds 1,414,110 shares directly. Additionally, Bortz’s indirect holdings include 200,000 shares owned by his wife and 18,000 shares of 5.70% Series H Preferred Shares. This insider buying aligns with broader company trends, as InvestingPro data reveals management has been actively buying back shares. For deeper insights into PEB’s valuation and 10+ additional ProTips, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Pebblebrook Hotel Trust reported its fourth quarter 2024 earnings, revealing a mixed performance. The company posted an earnings per share (EPS) of -0.51, which fell short of the forecasted -0.38. However, revenue exceeded expectations, reaching $337.6 million compared to the anticipated $324.03 million. Despite the earnings miss, Pebblebrook completed a $525 million redevelopment program, with strong performance from its resort properties, particularly in California. Analysts noted that the company’s strategic focus on operational efficiencies and cost controls played a role in mitigating financial pressures. Looking forward, Pebblebrook anticipates industry RevPAR growth of 1% to 3% in 2025, while planning capital investments of $65-$75 million. The company is also preparing for potential revenue impacts from the Los Angeles wildfires, estimated at $8.5-$11 million in the first quarter.
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