Jon E. Bortz, Chairman and CEO of Pebblebrook Hotel Trust (NYSE:PEB), has executed a significant acquisition of the company's common stock. The transaction involves the purchase of 40,000 shares, valued at approximately $678,600. The purchases were completed over a two-day period, with share prices fluctuating between $16.84 and $17.09. This insider buying activity occurs as PEB stock trades near its 52-week high of $17.23, following a notable 73% gain over the past year. According to InvestingPro analysis, the stock currently appears undervalued relative to its Fair Value, potentially explaining management’s confidence. This purchase aligns with an InvestingPro tip noting that management has been aggressively buying back shares.
According to a Form 4 filing with the Securities and Exchange Commission, Mr. Bortz purchased 20,000 common shares on June 8, 2026, at a price of $16.84 per share. The following day, June 9, 2026, he acquired an additional 20,000 common shares at $17.09 per share. Following these transactions, Mr. Bortz directly holds 1,597,110 common shares of Pebblebrook Hotel Trust. The filing also noted other holdings by Mr. Bortz. He directly holds 18,000 5.70% Series H Preferred Shares. Additionally, 200,000 common shares are held by an immediate family member sharing his household. Mr. Bortz disclaims beneficial ownership of these shares, stating the report should not be deemed an admission of beneficial ownership for Section 16 or for any other purpose.
Mr. Bortz also holds 643,500 LTIP Class B Units. These represent restricted units of limited partnership interest in Pebblebrook Hotel, L.P., of which the Issuer is the general partner. Vested LTIP Class B Units, upon achieving parity with the Operating Partnership’s common units, may be exchanged at any time, at the election of the holder, for Operating Partnership units on a one-for-one basis or, at the Operating Partnership’s option, an equivalent amount of cash. These units were issued pursuant to the Issuer’s 2009 Equity Incentive Plan. The transactions were reported in a Form 4 filed on June 9, 2026, covering the period of June 8, 2026.
In other recent news, Pebblebrook Hotel Trust reported its first-quarter 2026 earnings, surpassing market expectations with a notable performance. The company achieved an earnings per share of -$0.26, outperforming the forecasted -$0.33, which represents a 21.21% positive surprise. Additionally, revenue reached $343.83 million, exceeding the projected $326.54 million and marking a 5.29% surprise. In another development, Truist Securities upgraded Pebblebrook Hotel Trust’s stock rating to Buy from Hold, citing strong bookings as a key factor. The firm also raised its price target to $17.00 from $14.00. Truist increased its 2026 adjusted EBITDAre estimate to $351 million from $341 million and its adjusted funds from operations per share forecast to $1.72 from $1.65. For 2027, the firm adjusted its EBITDAre estimate to $361 million from $348 million and increased its AFFO per share projection to $1.85 from $1.71. These developments reflect a positive outlook for Pebblebrook Hotel Trust.