Pebblebrook Hotel Trust (NYSE:PEB) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 172,256 shares of the real estate investment trust’s stock after selling 2,277 shares during the period. Raymond James & Associates owned 0.14% of Pebblebrook Hotel Trust worth $2,753,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Nordea Investment Management AB raised its holdings in Pebblebrook Hotel Trust by 54.9% in the 4th quarter. Nordea Investment Management AB now owns 317,276 shares of the real estate investment trust’s stock valued at $5,122,000 after acquiring an additional 112,472 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Pebblebrook Hotel Trust by 49.8% in the 3rd quarter. William Blair Investment Management LLC now owns 3,656,930 shares of the real estate investment trust’s stock valued at $49,698,000 after acquiring an additional 1,215,683 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in Pebblebrook Hotel Trust in the 3rd quarter valued at $950,000. Principal Financial Group Inc. raised its holdings in Pebblebrook Hotel Trust by 1.6% in the 3rd quarter. Principal Financial Group Inc. now owns 7,009,009 shares of the real estate investment trust’s stock valued at $95,252,000 after acquiring an additional 112,616 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Pebblebrook Hotel Trust by 1.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 9,084,090 shares of the real estate investment trust’s stock valued at $123,453,000 after acquiring an additional 140,799 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PEB shares. Compass Point reiterated a “neutral” rating and issued a $17.00 price target on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Wells Fargo & Company upped their price objective on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Friday, December 22nd. Bank of America downgraded Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.50 price objective for the company. in a report on Monday, January 8th. Finally, Truist Financial upped their price objective on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and a consensus target price of $14.78.

Insider Transactions at Pebblebrook Hotel Trust

In other news, insider Thomas Charles Fisher sold 11,441 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.62, for a total transaction of $178,708.42. Following the transaction, the insider now owns 254,449 shares of the company’s stock, valued at $3,974,493.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust Stock Performance

NYSE:PEB opened at $15.30 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50-day moving average of $15.74 and a two-hundred day moving average of $14.59. The stock has a market cap of $1.84 billion, a P/E ratio of -15.77, a PEG ratio of 0.70 and a beta of 1.86. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65.

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

Pebblebrook Hotel Trust Dividend Announcement

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

Pebblebrook Hotel Trust 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.