Arizona State Retirement System Cuts Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Arizona State Retirement System lowered its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 33,686 shares of the real estate investment trust’s stock after selling 1,369 shares during the period. Arizona State Retirement System’s holdings in Pebblebrook Hotel Trust were worth $538,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB grew its holdings in shares of Pebblebrook Hotel Trust by 54.9% during the 4th quarter. Nordea Investment Management AB now owns 317,276 shares of the real estate investment trust’s stock valued at $5,122,000 after purchasing an additional 112,472 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Pebblebrook Hotel Trust by 49.8% during the 3rd quarter. William Blair Investment Management LLC now owns 3,656,930 shares of the real estate investment trust’s stock valued at $49,698,000 after purchasing an additional 1,215,683 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of Pebblebrook Hotel Trust during the 3rd quarter valued at $950,000. Principal Financial Group Inc. grew its holdings in Pebblebrook Hotel Trust by 1.6% in the 3rd quarter. Principal Financial Group Inc. now owns 7,009,009 shares of the real estate investment trust’s stock worth $95,252,000 after acquiring an additional 112,616 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in Pebblebrook Hotel Trust by 1.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 9,084,090 shares of the real estate investment trust’s stock worth $123,453,000 after acquiring an additional 140,799 shares during the last quarter.

Insider Activity at Pebblebrook Hotel Trust

In related news, insider Thomas Charles Fisher sold 11,441 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.62, for a total transaction of $178,708.42. Following the completion of the transaction, the insider now directly owns 254,449 shares of the company’s stock, valued at approximately $3,974,493.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEB. Wells Fargo & Company raised their price target on shares of Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 22nd. Compass Point reissued a “neutral” rating and issued a $17.00 price target on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Bank of America lowered shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.50 price target on the stock. in a report on Monday, January 8th. Finally, Truist Financial raised their price target on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $14.78.

Pebblebrook Hotel Trust Trading Up 1.9 %

NYSE:PEB opened at $14.62 on Friday. The company has a 50-day moving average price of $15.67 and a 200-day moving average price of $14.61. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -15.07, a P/E/G ratio of 0.65 and a beta of 1.86.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.21 EPS for the quarter, topping the consensus estimate of $0.15 by $0.06. Pebblebrook Hotel Trust had a negative net margin of 5.49% and a negative return on equity of 2.65%. The firm had revenue of $334.10 million during the quarter, compared to analysts’ expectations of $325.42 million. During the same period last year, the company posted $0.20 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities analysts predict that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -4.12%.

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.