Rhumbline Advisers Sells 2,898 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Rhumbline Advisers decreased its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 415,147 shares of the real estate investment trust’s stock after selling 2,898 shares during the quarter. Rhumbline Advisers’ holdings in Pebblebrook Hotel Trust were worth $5,625,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in Pebblebrook Hotel Trust by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust’s stock worth $40,272,000 after acquiring an additional 28,871 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Pebblebrook Hotel Trust by 5.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,418,159 shares of the real estate investment trust’s stock worth $31,992,000 after purchasing an additional 130,265 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Pebblebrook Hotel Trust by 4.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 950,475 shares of the real estate investment trust’s stock valued at $12,575,000 after purchasing an additional 36,270 shares during the period. Nordea Investment Management AB lifted its stake in Pebblebrook Hotel Trust by 90.2% in the 4th quarter. Nordea Investment Management AB now owns 746,763 shares of the real estate investment trust’s stock valued at $10,193,000 after purchasing an additional 354,116 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in Pebblebrook Hotel Trust by 3.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 298,787 shares of the real estate investment trust’s stock worth $3,953,000 after purchasing an additional 9,904 shares during the period.

Wall Street Analyst Weigh In

Several research firms have issued reports on PEB. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their price objective for the company from $14.75 to $15.00 in a research note on Friday, November 22nd. Wells Fargo & Company dropped their price target on Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Robert W. Baird decreased their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Wedbush cut shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 target price for the company. in a research note on Thursday, January 2nd. Finally, Truist Financial reduced their target price on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.17.

Pebblebrook Hotel Trust Stock Up 2.1 %

PEB opened at $11.77 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. Pebblebrook Hotel Trust has a fifty-two week low of $11.47 and a fifty-two week high of $16.61. The stock has a fifty day moving average of $13.11 and a 200-day moving average of $13.11. The company has a market capitalization of $1.41 billion, a P/E ratio of -40.58, a P/E/G ratio of 0.60 and a beta of 1.85.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Tuesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -13.79%.

Pebblebrook Hotel Trust Company 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.