KLP Kapitalforvaltning AS Takes $306,000 Position in Pebblebrook Hotel Trust (NYSE:PEB)

KLP Kapitalforvaltning AS acquired a new position in shares of Pebblebrook Hotel Trust (NYSE:PEB) in the fourth quarter, HoldingsChannel reports. The fund acquired 22,600 shares of the real estate investment trust’s stock, valued at approximately $306,000.

Several other large investors have also made changes to their positions in the company. Geode Capital Management LLC grew its position in Pebblebrook Hotel Trust by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust’s stock valued at $40,272,000 after acquiring an additional 28,871 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,504,751 shares of the real estate investment trust’s stock valued at $33,939,000 after purchasing an additional 86,592 shares in the last quarter. William Blair Investment Management LLC grew its holdings in shares of Pebblebrook Hotel Trust by 2.3% during the 4th quarter. William Blair Investment Management LLC now owns 2,159,201 shares of the real estate investment trust’s stock worth $29,257,000 after purchasing an additional 49,183 shares during the period. Cbre Investment Management Listed Real Assets LLC acquired a new stake in Pebblebrook Hotel Trust during the 4th quarter worth approximately $13,788,000. Finally, Nordea Investment Management AB raised its holdings in Pebblebrook Hotel Trust by 90.2% in the fourth quarter. Nordea Investment Management AB now owns 746,763 shares of the real estate investment trust’s stock valued at $10,193,000 after buying an additional 354,116 shares during the period.

Pebblebrook Hotel Trust Stock Performance

NYSE:PEB opened at $8.39 on Monday. The firm has a 50-day moving average of $11.65 and a two-hundred day moving average of $12.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $1.00 billion, a P/E ratio of -28.91, a PEG ratio of 0.60 and a beta of 1.69. Pebblebrook Hotel Trust has a 1-year low of $8.26 and a 1-year high of $16.06.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 31st. Pebblebrook Hotel Trust’s dividend payout ratio is currently -9.30%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PEB. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Compass Point cut shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $17.00 to $15.00 in a research report on Monday, March 10th. Wedbush downgraded Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price target for the company. in a report on Thursday, January 2nd. Wells Fargo & Company decreased their target price on 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, Raymond James set a $14.00 target price on Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.86.

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.