PNC Financial Services Group Inc. Has $119,000 Position in Pebblebrook Hotel Trust (NYSE:PEB)

PNC Financial Services Group Inc. lessened its position in Pebblebrook Hotel Trust (NYSE:PEB) by 35.8% during the 4th quarter, Holdings Channel reports. The firm owned 7,453 shares of the real estate investment trust’s stock after selling 4,153 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pebblebrook Hotel Trust were worth $119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PEB. Principal Securities Inc. acquired a new position in shares of Pebblebrook Hotel Trust during the fourth quarter worth approximately $64,000. Quest Partners LLC bought a new stake in shares of Pebblebrook Hotel Trust in the fourth quarter worth $157,000. Van ECK Associates Corp boosted its stake in shares of Pebblebrook Hotel Trust by 17.1% during the 4th quarter. Van ECK Associates Corp now owns 16,665 shares of the real estate investment trust’s stock worth $266,000 after buying an additional 2,438 shares during the last quarter. Custom Index Systems LLC acquired a new position in Pebblebrook Hotel Trust during the fourth quarter valued at approximately $267,000. Finally, Aigen Investment Management LP bought a new position in shares of Pebblebrook Hotel Trust in the fourth quarter valued at $304,000.

Pebblebrook Hotel Trust Price Performance

Shares of PEB stock opened at $13.06 on Friday. The business has a fifty day simple moving average of $14.17 and a 200 day simple moving average of $15.13. The company has a market cap of $1.57 billion, a P/E ratio of -12.80, a P/E/G ratio of 0.64 and a beta of 1.84. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a twelve month low of $11.39 and a twelve month high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.48). The company had revenue of $314.10 million during the quarter, compared to the consensus estimate of $304.34 million. Pebblebrook Hotel Trust had a negative return on equity of 2.88% and a negative net margin of 5.84%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.18 EPS. On average, sell-side analysts forecast that Pebblebrook Hotel Trust will post 1.48 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. Pebblebrook Hotel Trust’s payout ratio is presently -3.92%.

Insider Transactions at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz acquired 17,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $13.67 per share, with a total value of $232,390.00. Following the acquisition, the chief executive officer now directly owns 1,208,284 shares in the company, valued at approximately $16,517,242.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Phillip M. Miller sold 3,500 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total transaction of $46,515.00. Following the sale, the director now owns 13,098 shares in the company, valued at approximately $174,072.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jon E. Bortz bought 17,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average cost of $13.67 per share, for a total transaction of $232,390.00. Following the completion of the purchase, the chief executive officer now owns 1,208,284 shares of the company’s stock, valued at $16,517,242.28. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Compass Point reiterated a “neutral” rating and set a $17.00 price target on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd. Finally, Truist Financial reduced their price target on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.56.

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.