New York State Common Retirement Fund Lowers Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

New York State Common Retirement Fund trimmed its position in Pebblebrook Hotel Trust (NYSE:PEB) by 75.5% in the 4th quarter, Holdings Channel reports. The firm owned 822,756 shares of the real estate investment trust’s stock after selling 2,531,623 shares during the quarter. New York State Common Retirement Fund’s holdings in Pebblebrook Hotel Trust were worth $13,148,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of Pebblebrook Hotel Trust by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 884 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in Pebblebrook Hotel Trust in the 3rd quarter worth about $148,000. Sequoia Financial Advisors LLC increased its stake in Pebblebrook Hotel Trust by 6.9% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 14,579 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 942 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Pebblebrook Hotel Trust by 16.0% in the 3rd quarter. Assetmark Inc. now owns 15,728 shares of the real estate investment trust’s stock valued at $214,000 after acquiring an additional 2,175 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in shares of Pebblebrook Hotel Trust by 38.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 17,505 shares of the real estate investment trust’s stock valued at $238,000 after acquiring an additional 4,861 shares during the last quarter.

Pebblebrook Hotel Trust Stock Up 0.3 %

PEB stock opened at $15.01 on Tuesday. Pebblebrook Hotel Trust has a one year low of $11.39 and a one year high of $16.65. The company’s 50 day moving average price is $15.59 and its two-hundred day moving average price is $14.72. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.46 and a quick ratio of 0.46.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.48). Pebblebrook Hotel Trust had a negative return on equity of 2.88% and a negative net margin of 5.84%. The business had revenue of $314.10 million during the quarter, compared to analysts’ expectations of $304.34 million. During the same quarter in the previous year, the business earned $0.18 EPS. Pebblebrook Hotel Trust’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Pebblebrook Hotel Trust will post 1.58 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -3.92%.

Insider Activity at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.62, for a total value of $178,708.42. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PEB. Truist Financial upped their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Thursday, January 18th. 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 cut shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.50 price objective on the stock. in a research report on Monday, January 8th. Finally, StockNews.com upgraded shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.69.

About Pebblebrook Hotel Trust

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.