Envestnet Asset Management Inc. Sells 46,470 Shares of Pebblebrook Hotel Trust $PEB

Envestnet Asset Management Inc. reduced its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 646,431 shares of the real estate investment trust’s stock after selling 46,470 shares during the quarter. Envestnet Asset Management Inc. owned 0.55% of Pebblebrook Hotel Trust worth $7,363,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 115.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,683 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 2,507 shares during the period. AdvisorShares Investments LLC raised its position in Pebblebrook Hotel Trust by 52.4% in the second quarter. AdvisorShares Investments LLC now owns 7,621 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 2,621 shares during the period. M&T Bank Corp bought a new position in Pebblebrook Hotel Trust in the second quarter worth approximately $116,000. Diametric Capital LP purchased a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter worth $164,000. Finally, Creative Planning bought a new stake in shares of Pebblebrook Hotel Trust during the 2nd quarter valued at $176,000.

Pebblebrook Hotel Trust Price Performance

NYSE:PEB opened at $12.68 on Friday. The business’s 50-day simple moving average is $11.93 and its two-hundred day simple moving average is $11.28. Pebblebrook Hotel Trust has a 52 week low of $7.41 and a 52 week high of $13.11. The stock has a market cap of $1.44 billion, a PE ratio of -10.65 and a beta of 1.54. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.86.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio is presently -3.36%.

Analyst Ratings Changes

A number of brokerages recently commented on PEB. Robert W. Baird set a $15.00 target price on Pebblebrook Hotel Trust and gave the stock an “outperform” rating in a report on Monday, January 12th. Stifel Nicolaus set a $13.50 price target on Pebblebrook Hotel Trust in a report on Thursday, November 6th. Compass Point downgraded Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $12.00 to $11.50 in a research note on Monday, November 10th. Zacks Research cut Pebblebrook Hotel Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Pebblebrook Hotel Trust in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, Pebblebrook Hotel Trust presently has an average rating of “Reduce” and an average price target of $12.08.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.