Vanguard Group Inc. Lowers Stake in Pebblebrook Hotel Trust (NYSE:PEB)

Vanguard Group Inc. lowered its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,804,947 shares of the real estate investment trust’s stock after selling 414,736 shares during the period. Vanguard Group Inc. owned 16.44% of Pebblebrook Hotel Trust worth $269,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Pebblebrook Hotel Trust by 76.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,525 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 3,256 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Pebblebrook Hotel Trust by 13.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the real estate investment trust’s stock valued at $104,000 after purchasing an additional 884 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Pebblebrook Hotel Trust during the 1st quarter valued at $237,000. Captrust Financial Advisors acquired a new position in shares of Pebblebrook Hotel Trust in the 2nd quarter valued at $176,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Pebblebrook Hotel Trust in the 3rd quarter valued at $148,000.

Pebblebrook Hotel Trust Price Performance

Shares of PEB opened at $15.41 on Friday. The business’s 50-day moving average is $15.79 and its two-hundred day moving average is $14.48. The company has a market capitalization of $1.85 billion, a P/E ratio of -15.88, a P/E/G ratio of 0.70 and a beta of 1.86. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 0.97. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. Pebblebrook Hotel Trust had a negative return on equity of 2.65% and a negative net margin of 5.49%. The company had revenue of $334.10 million for the quarter, compared to the consensus estimate of $325.42 million. During the same period last year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts predict that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -4.12%.

Insider Activity at Pebblebrook Hotel Trust

In related news, insider Thomas Charles Fisher sold 11,441 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.62, for a total value of $178,708.42. Following the transaction, the insider now directly owns 254,449 shares of the company’s stock, valued at approximately $3,974,493.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PEB. Compass Point reissued a “neutral” rating and issued a $17.00 target price on shares of Pebblebrook Hotel Trust in a research report on Thursday. Truist Financial upped their target price on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Thursday, January 18th. Wells Fargo & Company upped their target price on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the company an “equal weight” rating in a research report on Friday, December 22nd. Finally, Bank of America downgraded Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.50 target price on the stock. in a research report on Monday, January 8th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.78.

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.