Principal Financial Group Inc. Acquires 15,619 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Principal Financial Group Inc. grew its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 596,062 shares of the real estate investment trust’s stock after purchasing an additional 15,619 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Pebblebrook Hotel Trust worth $6,038,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PEB. T. Rowe Price Investment Management Inc. lifted its holdings in Pebblebrook Hotel Trust by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,713,156 shares of the real estate investment trust’s stock worth $90,964,000 after purchasing an additional 525,991 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Pebblebrook Hotel Trust by 0.3% in the fourth quarter. Earnest Partners LLC now owns 4,936,306 shares of the real estate investment trust’s stock valued at $66,887,000 after buying an additional 13,479 shares during the period. Alyeska Investment Group L.P. grew its position in Pebblebrook Hotel Trust by 43.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,167,770 shares of the real estate investment trust’s stock worth $56,473,000 after buying an additional 1,260,077 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Pebblebrook Hotel Trust by 19.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,956,436 shares of the real estate investment trust’s stock worth $40,061,000 after purchasing an additional 481,076 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in Pebblebrook Hotel Trust by 82.3% during the fourth quarter. Nuveen Asset Management LLC now owns 2,345,333 shares of the real estate investment trust’s stock worth $31,779,000 after purchasing an additional 1,058,664 shares during the period.

Pebblebrook Hotel Trust Stock Down 1.0%

PEB stock opened at $10.53 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.82. Pebblebrook Hotel Trust has a 1-year low of $7.41 and a 1-year high of $15.12. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -21.93 and a beta of 1.75. The company’s 50 day moving average is $9.82 and its 200 day moving average is $10.78.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $320.27 million for the quarter, compared to analysts’ expectations of $311.74 million. Pebblebrook Hotel Trust had a negative return on equity of 0.32% and a negative net margin of 0.61%. Pebblebrook Hotel Trust’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. Sell-side analysts predict that Pebblebrook Hotel Trust will post 1.5 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Monday, June 30th. Pebblebrook Hotel Trust’s payout ratio is -8.33%.

Analyst Upgrades and Downgrades

PEB has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their price target on shares of Pebblebrook Hotel Trust from $16.50 to $13.25 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company restated a “negative” rating on shares of Pebblebrook Hotel Trust in a report on Tuesday, July 1st. Evercore ISI lowered their price target on Pebblebrook Hotel Trust from $15.00 to $11.00 and set an “in-line” rating for the company in a research report on Monday, April 28th. Truist Financial set a $9.00 price target on Pebblebrook Hotel Trust and gave the stock a “hold” rating in a report on Monday, June 2nd. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $10.00 price target on shares of Pebblebrook Hotel Trust in a report on Tuesday. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Pebblebrook Hotel Trust currently has an average rating of “Hold” and an average target price of $11.69.

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.