PNC Financial Services Group Inc. Trims Stock Position in Pebblebrook Hotel Trust (NYSE:PEB)

PNC Financial Services Group Inc. trimmed its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 45.0% in the 4th quarter, HoldingsChannel reports. The fund owned 3,544 shares of the real estate investment trust’s stock after selling 2,895 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pebblebrook Hotel Trust were worth $48,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEB. FMR LLC increased its position in shares of Pebblebrook Hotel Trust by 10.8% during the third quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 884 shares during the last quarter. FORA Capital LLC purchased a new position in shares of Pebblebrook Hotel Trust during the 3rd quarter worth approximately $133,000. Holocene Advisors LP purchased a new position in shares of Pebblebrook Hotel Trust during the 3rd quarter worth approximately $166,000. Quadrature Capital Ltd acquired a new stake in Pebblebrook Hotel Trust in the 3rd quarter valued at approximately $185,000. Finally, Metis Global Partners LLC raised its position in Pebblebrook Hotel Trust by 11.4% in the fourth quarter. Metis Global Partners LLC now owns 13,823 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 1,412 shares during the period.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB opened at $10.47 on Thursday. Pebblebrook Hotel Trust has a 1 year low of $9.97 and a 1 year high of $16.06. The stock has a market capitalization of $1.25 billion, a PE ratio of -36.09, a PEG ratio of 0.60 and a beta of 1.87. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day simple moving average of $12.20 and a 200-day simple moving average of $12.88.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.01 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.38%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -9.30%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PEB shares. Truist Financial lowered their price target on Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Wedbush lowered shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a research note on Thursday, January 2nd. Raymond James set a $14.00 price objective on shares of Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price objective on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.86.

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.