Pebblebrook Hotel Trust (NYSE:PEB) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) by 36.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,487 shares of the real estate investment trust’s stock after selling 4,295 shares during the period. Van ECK Associates Corp’s holdings in Pebblebrook Hotel Trust were worth $109,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PEB. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Pebblebrook Hotel Trust by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 48,151 shares of the real estate investment trust’s stock worth $1,179,000 after buying an additional 4,591 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Pebblebrook Hotel Trust by 3.7% in the first quarter. Great West Life Assurance Co. Can now owns 176,918 shares of the real estate investment trust’s stock valued at $4,475,000 after buying an additional 6,388 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Pebblebrook Hotel Trust by 1.2% during the first quarter. Vanguard Group Inc. now owns 19,551,178 shares of the real estate investment trust’s stock worth $478,613,000 after purchasing an additional 226,216 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Pebblebrook Hotel Trust by 5.5% during the first quarter. Federated Hermes Inc. now owns 30,800 shares of the real estate investment trust’s stock worth $754,000 after purchasing an additional 1,607 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Pebblebrook Hotel Trust during the first quarter worth approximately $237,000.

Pebblebrook Hotel Trust Stock Up 0.8 %

Pebblebrook Hotel Trust stock opened at $14.30 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of -13.75, a price-to-earnings-growth ratio of 0.49 and a beta of 1.78. Pebblebrook Hotel Trust has a fifty-two week low of $12.54 and a fifty-two week high of $26.14. The stock’s fifty day moving average is $14.78 and its two-hundred day moving average is $16.33.

Pebblebrook Hotel Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Thursday, December 29th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -3.85%.

Wall Street Analysts Forecast Growth

PEB has been the subject of several analyst reports. BMO Capital Markets cut Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $20.00 to $18.00 in a research note on Friday, December 2nd. Barclays cut their price target on Pebblebrook Hotel Trust from $22.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 21st. Stifel Nicolaus dropped their price objective on Pebblebrook Hotel Trust from $23.50 to $19.00 in a report on Friday, September 23rd. TheStreet lowered Pebblebrook Hotel Trust from a “c-” rating to a “d+” rating in a report on Friday, December 30th. Finally, StockNews.com assumed coverage on Pebblebrook Hotel Trust in a report on Wednesday, October 12th. They set a “sell” rating on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.27.

Pebblebrook Hotel Trust Company Profile

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Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 53 hotels, totaling approximately 13,200 guestrooms across 14 urban and resort markets, with a focus on the west coast gateway cities.