Pebblebrook Hotel Trust (NYSE:PEB) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 3.8% during the fourth quarter, HoldingsChannel reports. The firm owned 129,987 shares of the real estate investment trust’s stock after selling 5,187 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Pebblebrook Hotel Trust were worth $1,761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nordea Investment Management AB increased its position in shares of Pebblebrook Hotel Trust by 90.2% during the fourth quarter. Nordea Investment Management AB now owns 746,763 shares of the real estate investment trust’s stock worth $10,193,000 after acquiring an additional 354,116 shares during the last quarter. Atom Investors LP purchased a new stake in shares of Pebblebrook Hotel Trust during the third quarter worth about $1,363,000. GSA Capital Partners LLP increased its position in shares of Pebblebrook Hotel Trust by 47.4% during the third quarter. GSA Capital Partners LLP now owns 223,654 shares of the real estate investment trust’s stock worth $2,959,000 after acquiring an additional 71,920 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in shares of Pebblebrook Hotel Trust during the third quarter worth about $884,000. Finally, Quest Partners LLC purchased a new stake in shares of Pebblebrook Hotel Trust during the third quarter worth about $691,000.

Wall Street Analyst Weigh In

PEB has been the topic of a number of analyst reports. Wedbush lowered Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 target price on the stock. in a research report on Thursday, January 2nd. Truist Financial dropped their target price on 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. Wells Fargo & Company lifted their target price on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Compass Point raised Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Thursday, November 21st. Finally, Stifel Nicolaus raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and boosted their price objective for the company from $14.75 to $15.00 in a report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.67.

Insider Activity

In related news, CEO Jon E. Bortz bought 13,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of $12.68 per share, with a total value of $164,840.00. Following the completion of the acquisition, the chief executive officer now owns 1,395,284 shares of the company’s stock, valued at $17,692,201.12. This trade represents a 0.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust Stock Up 0.8 %

Shares of Pebblebrook Hotel Trust stock opened at $12.29 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.47 billion, a P/E ratio of -42.36, a P/E/G ratio of 0.62 and a beta of 1.85. Pebblebrook Hotel Trust has a fifty-two week low of $11.65 and a fifty-two week high of $16.65. The business has a 50-day moving average price of $13.59 and a 200 day moving average price of $13.16.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Tuesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio is currently -13.79%.

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.