Pebblebrook Hotel Trust (NYSE:PEB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 77.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,497,773 shares of the real estate investment trust’s stock after selling 5,022,979 shares during the quarter. Principal Financial Group Inc. owned about 1.24% of Pebblebrook Hotel Trust worth $19,816,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. boosted its position in Pebblebrook Hotel Trust by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 174,841 shares of the real estate investment trust’s stock worth $2,313,000 after purchasing an additional 866 shares during the period. Van ECK Associates Corp grew its stake in shares of Pebblebrook Hotel Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 20,523 shares of the real estate investment trust’s stock valued at $247,000 after buying an additional 2,253 shares in the last quarter. abrdn plc raised its holdings in shares of Pebblebrook Hotel Trust by 10.2% during the 3rd quarter. abrdn plc now owns 24,579 shares of the real estate investment trust’s stock valued at $325,000 after buying an additional 2,281 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Pebblebrook Hotel Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 1,212 shares in the last quarter. Finally, Quarry LP boosted its holdings in Pebblebrook Hotel Trust by 2,376.9% in the 2nd quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 4,326 shares during the period.

Pebblebrook Hotel Trust Stock Performance

Shares of Pebblebrook Hotel Trust stock opened at $12.29 on Friday. 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 1 year low of $11.65 and a 1 year high of $16.65. The firm’s 50-day simple moving average is $12.86 and its 200-day simple moving average is $13.38. The firm has a market cap of $1.47 billion, a PE ratio of -43.24, a price-to-earnings-growth ratio of 0.60 and a beta of 1.85.

Pebblebrook Hotel Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -13.79%.

Insider Transactions at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz sold 11,000 shares of the 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 sale, the chief executive officer now directly owns 1,349,284 shares in the company, valued at approximately $28,834,199.08. This represents a 0.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

PEB has been the topic of a number of recent research reports. Robert W. Baird reduced their target price on shares of 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. Truist Financial cut their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Wells Fargo & Company dropped their target price on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.30.

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.