Norges Bank Makes New Investment in Pebblebrook Hotel Trust (NYSE:PEB)

Norges Bank bought a new stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 62,228 shares of the real estate investment trust’s stock, valued at approximately $843,000. Norges Bank owned about 0.05% of Pebblebrook Hotel Trust as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. FMR LLC grew its position in Pebblebrook Hotel Trust by 10.8% during the 3rd quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 884 shares during the last quarter. Cibc World Markets Corp bought a new position in shares of Pebblebrook Hotel Trust in the fourth quarter worth approximately $151,000. Metis Global Partners LLC grew its holdings in shares of Pebblebrook Hotel Trust by 11.4% during 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 buying an additional 1,412 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Pebblebrook Hotel Trust during the fourth quarter valued at approximately $189,000. Finally, Van ECK Associates Corp raised its holdings in Pebblebrook Hotel Trust by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 22,619 shares of the real estate investment trust’s stock worth $306,000 after acquiring an additional 2,096 shares during the last quarter.

Pebblebrook Hotel Trust Stock Down 0.3 %

Shares of NYSE PEB opened at $8.48 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 12-month low of $7.41 and a 12-month high of $16.06. The firm’s 50-day moving average price is $10.97 and its 200-day moving average price is $12.49. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -29.22, a P/E/G ratio of 0.60 and a beta of 1.69.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, March 31st. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -9.30%.

Analysts Set New Price Targets

Several equities analysts have issued reports on PEB shares. Compass Point cut shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and lowered their target price for the company from $17.00 to $15.00 in a research note on Monday, March 10th. Wedbush downgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price objective on the stock. in a research report on Thursday, January 2nd. Raymond James set a $14.00 target price on shares of Pebblebrook Hotel Trust and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Truist Financial decreased their target price on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $13.86.

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.