New York State Teachers Retirement System Has $2.48 Million Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

New York State Teachers Retirement System lessened its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 3.5% in the 4th quarter, HoldingsChannel reports. The fund owned 182,669 shares of the real estate investment trust’s stock after selling 6,612 shares during the quarter. New York State Teachers Retirement System’s holdings in Pebblebrook Hotel Trust were worth $2,475,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PEB. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Pebblebrook Hotel Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 1,212 shares during the period. abrdn plc raised its holdings in shares of Pebblebrook Hotel Trust by 10.2% in the third quarter. abrdn plc now owns 24,579 shares of the real estate investment trust’s stock valued at $325,000 after purchasing an additional 2,281 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Pebblebrook Hotel Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 20,523 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 2,253 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Pebblebrook Hotel Trust by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 174,841 shares of the real estate investment trust’s stock valued at $2,313,000 after purchasing an additional 866 shares during the last quarter. Finally, Atria Investments Inc raised its holdings in shares of Pebblebrook Hotel Trust by 2.2% in the third quarter. Atria Investments Inc now owns 40,897 shares of the real estate investment trust’s stock valued at $541,000 after purchasing an additional 889 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEB. Truist Financial lowered their target price on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Compass Point raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Thursday, November 21st. Wedbush cut shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 target price for the company. in a research report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, Stifel Nicolaus raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.75 to $15.00 in a research report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.17.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE:PEB opened at $11.89 on Friday. The company’s 50-day moving average is $13.26 and its 200 day moving average is $13.12. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $1.42 billion, a P/E ratio of -41.00, a price-to-earnings-growth ratio of 0.60 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 $16.61.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -13.79%.

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.