Sterling Capital Management LLC Acquires 3,352 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Sterling Capital Management LLC grew its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 815.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,763 shares of the real estate investment trust’s stock after buying an additional 3,352 shares during the quarter. Sterling Capital Management LLC’s holdings in Pebblebrook Hotel Trust were worth $51,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB increased its holdings in Pebblebrook Hotel Trust by 90.2% in the 4th quarter. Nordea Investment Management AB now owns 746,763 shares of the real estate investment trust’s stock worth $10,193,000 after purchasing an additional 354,116 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Pebblebrook Hotel Trust by 5.9% in the 4th quarter. Fisher Asset Management LLC now owns 572,994 shares of the real estate investment trust’s stock valued at $7,764,000 after buying an additional 31,677 shares during the last quarter. Entropy Technologies LP boosted its position in Pebblebrook Hotel Trust by 93.3% during the 4th quarter. Entropy Technologies LP now owns 54,880 shares of the real estate investment trust’s stock worth $744,000 after buying an additional 26,487 shares during the period. Alliancebernstein L.P. increased its position in Pebblebrook Hotel Trust by 3.4% in the 4th quarter. Alliancebernstein L.P. now owns 161,726 shares of the real estate investment trust’s stock valued at $2,191,000 after acquiring an additional 5,246 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Pebblebrook Hotel Trust during the fourth quarter worth $358,000.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE PEB opened at $8.74 on Thursday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -30.14, a PEG ratio of 0.60 and a beta of 1.69. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. Pebblebrook Hotel Trust has a fifty-two week low of $7.41 and a fifty-two week high of $16.06. The firm’s 50-day simple moving average is $10.36 and its 200 day simple moving average is $12.24.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.04 annualized dividend and a yield of 0.46%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -9.30%.

Analyst Ratings Changes

Several research analysts recently issued reports on PEB shares. Stifel Nicolaus lowered their target price on Pebblebrook Hotel Trust from $16.50 to $13.25 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Compass Point lowered shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $17.00 to $15.00 in a research note on Monday, March 10th. Truist Financial cut their price target on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Wedbush lowered Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a research note on Thursday, January 2nd. Finally, StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.61.

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.