Pebblebrook Hotel Trust (NYSE:PEB) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its position in Pebblebrook Hotel Trust (NYSE:PEB) by 65.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,347 shares of the real estate investment trust’s stock after selling 19,400 shares during the period. Cerity Partners LLC’s holdings in Pebblebrook Hotel Trust were worth $105,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in Pebblebrook Hotel Trust by 11.9% in the first quarter. Envestnet Asset Management Inc. now owns 601,132 shares of the real estate investment trust’s stock worth $6,089,000 after acquiring an additional 63,915 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Pebblebrook Hotel Trust by 2.7% in the first quarter. Principal Financial Group Inc. now owns 596,062 shares of the real estate investment trust’s stock worth $6,038,000 after acquiring an additional 15,619 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Pebblebrook Hotel Trust in the first quarter worth about $177,000. Illinois Municipal Retirement Fund lifted its holdings in Pebblebrook Hotel Trust by 10.4% in the first quarter. Illinois Municipal Retirement Fund now owns 67,256 shares of the real estate investment trust’s stock worth $681,000 after acquiring an additional 6,329 shares during the last quarter. Finally, Perfromance Wealth Partners LLC lifted its holdings in Pebblebrook Hotel Trust by 17.8% in the first quarter. Perfromance Wealth Partners LLC now owns 50,756 shares of the real estate investment trust’s stock worth $514,000 after acquiring an additional 7,674 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on PEB shares. Stifel Nicolaus cut their target price on shares of Pebblebrook Hotel Trust from $16.50 to $13.25 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Truist Financial set a $9.00 price target on shares of Pebblebrook Hotel Trust and gave the company a “hold” rating in a research note on Monday, June 2nd. Wells Fargo & Company restated a “negative” rating on shares of Pebblebrook Hotel Trust in a research note on Tuesday, July 1st. Evercore ISI raised their price target on shares of Pebblebrook Hotel Trust from $11.00 to $12.00 and gave the company an “in-line” rating in a research note on Monday. Finally, Wedbush set a $9.00 price target on shares of Pebblebrook Hotel Trust and gave the company an “underperform” rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Pebblebrook Hotel Trust has a consensus rating of “Hold” and a consensus price target of $11.81.

Pebblebrook Hotel Trust Stock Performance

PEB opened at $10.62 on Wednesday. Pebblebrook Hotel Trust has a 1-year low of $7.41 and a 1-year high of $15.12. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -22.13 and a beta of 1.75. The business has a 50 day moving average price of $9.91 and a two-hundred day moving average price of $10.59. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.09 and a quick ratio of 1.09.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.06. Pebblebrook Hotel Trust had a negative return on equity of 0.32% and a negative net margin of 0.61%. The company had revenue of $407.54 million for the quarter, compared to analysts’ expectations of $398.77 million. During the same period last year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Research analysts predict that Pebblebrook Hotel Trust will post 1.5 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Monday, June 30th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -8.33%.

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.