Louisiana State Employees Retirement System Sells 2,300 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Louisiana State Employees Retirement System reduced its position in Pebblebrook Hotel Trust (NYSE:PEB) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,300 shares of the real estate investment trust’s stock after selling 2,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Pebblebrook Hotel Trust were worth $771,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of Montreal Can boosted its holdings in Pebblebrook Hotel Trust by 68.1% in the second quarter. Bank of Montreal Can now owns 1,875,288 shares of the real estate investment trust’s stock worth $25,841,000 after acquiring an additional 759,964 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Pebblebrook Hotel Trust by 38.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock valued at $26,997,000 after purchasing an additional 541,573 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Pebblebrook Hotel Trust by 1.0% in the second quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock worth $69,247,000 after buying an additional 51,677 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Pebblebrook Hotel Trust by 166.1% during the second quarter. Victory Capital Management Inc. now owns 80,444 shares of the real estate investment trust’s stock valued at $1,106,000 after buying an additional 50,210 shares during the last quarter. Finally, Choreo LLC acquired a new position in shares of Pebblebrook Hotel Trust in the 2nd quarter valued at $603,000.

Insider Buying and Selling

In other news, CEO Jon E. Bortz acquired 22,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $12.21 per share, with a total value of $268,620.00. Following the purchase, the chief executive officer now owns 1,341,284 shares in the company, valued at $16,377,077.64. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PEB. Truist Financial dropped their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Robert W. Baird reduced their price target on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company cut their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.75.

Pebblebrook Hotel Trust Stock Performance

PEB opened at $12.10 on Tuesday. The stock has a market cap of $1.46 billion, a P/E ratio of -11.00, a P/E/G ratio of 0.56 and a beta of 1.85. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a fifty day moving average price of $12.89 and a 200 day moving average price of $13.48. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.33%. Pebblebrook Hotel Trust’s dividend payout ratio is presently -3.64%.

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.