Principal Financial Group Inc. Trims Stock Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Principal Financial Group Inc. reduced its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 77.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,497,773 shares of the real estate investment trust’s stock after selling 5,022,979 shares during the period. Principal Financial Group Inc. owned about 1.25% of Pebblebrook Hotel Trust worth $19,816,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its holdings in Pebblebrook Hotel Trust by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the real estate investment trust’s stock valued at $833,000 after buying an additional 900 shares during the last quarter. Van ECK Associates Corp raised its holdings in Pebblebrook Hotel Trust by 7.1% during the second quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 1,215 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Pebblebrook Hotel Trust by 166.1% during the 2nd quarter. Victory Capital Management Inc. now owns 80,444 shares of the real estate investment trust’s stock worth $1,106,000 after buying an additional 50,210 shares during the last quarter. Choreo LLC acquired a new position in shares of Pebblebrook Hotel Trust in the 2nd quarter valued at $603,000. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Pebblebrook Hotel Trust by 22.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 35,379 shares of the real estate investment trust’s stock valued at $470,000 after buying an additional 6,393 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Jon E. Bortz sold 11,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $21.37, for a total transaction of $235,070.00. Following the completion of the transaction, the chief executive officer now directly owns 1,349,284 shares in the company, valued at $28,834,199.08. The trade was a 0.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jon E. Bortz bought 13,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $12.68 per share, for a total transaction of $164,840.00. Following the purchase, the chief executive officer now owns 1,395,284 shares in the company, valued at $17,692,201.12. This represents a 0.94 % increase in their position. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on PEB shares. Robert W. Baird cut their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their price target for the company from $14.75 to $15.00 in a research report on Friday, November 22nd. Compass Point raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Thursday, November 21st. Truist Financial reduced their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a report on Monday, October 28th. Finally, Wells Fargo & Company raised their price target on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $14.92.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB opened at $13.86 on Friday. The company has a market capitalization of $1.66 billion, a PE ratio of -47.79, a P/E/G ratio of 0.69 and a beta of 1.87. Pebblebrook Hotel Trust has a 52-week low of $11.65 and a 52-week high of $16.65. The company has a 50-day simple moving average of $13.28 and a 200-day simple moving average of $13.23. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Tuesday, December 31st. Pebblebrook Hotel Trust’s payout ratio is currently -13.79%.

Pebblebrook Hotel Trust Profile

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.