PNC Financial Services Group Inc. Cuts Stake in Pebblebrook Hotel Trust (NYSE:PEB)

PNC Financial Services Group Inc. decreased its position in Pebblebrook Hotel Trust (NYSE:PEB) by 35.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,453 shares of the real estate investment trust’s stock after selling 4,153 shares during the period. PNC Financial Services Group Inc.’s holdings in Pebblebrook Hotel Trust were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB boosted 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 purchasing an additional 112,472 shares in the last quarter. Phocas Financial Corp. boosted its stake in shares of Pebblebrook Hotel Trust by 437.3% in the fourth quarter. Phocas Financial Corp. now owns 220,570 shares of the real estate investment trust’s stock valued at $3,525,000 after buying an additional 179,518 shares in the last quarter. Nomura Holdings Inc. grew its holdings in Pebblebrook Hotel Trust by 44.3% during the fourth quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock worth $8,201,000 after acquiring an additional 157,637 shares during the period. Norges Bank purchased a new position in Pebblebrook Hotel Trust in the fourth quarter worth $8,798,000. Finally, Jump Financial LLC lifted its holdings in Pebblebrook Hotel Trust by 241.7% in the fourth quarter. Jump Financial LLC now owns 234,076 shares of the real estate investment trust’s stock valued at $3,741,000 after acquiring an additional 165,576 shares during the period.

Pebblebrook Hotel Trust Stock Down 0.7 %

Shares of NYSE:PEB opened at $13.06 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.57 billion, a P/E ratio of -12.80, a P/E/G ratio of 0.64 and a beta of 1.84. Pebblebrook Hotel Trust has a 52-week low of $11.39 and a 52-week high of $16.65. The stock’s fifty day simple moving average is $14.17 and its 200-day simple moving average is $15.13.

Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.48). The firm had revenue of $314.10 million during the quarter, compared to analysts’ expectations of $304.34 million. Pebblebrook Hotel Trust had a negative net margin of 5.84% and a negative return on equity of 2.88%. Pebblebrook Hotel Trust’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. As a group, equities research analysts forecast that Pebblebrook Hotel Trust will post 1.48 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.31%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -3.92%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. 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. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Thursday, May 2nd. Finally, Truist Financial reduced their price target on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.56.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 17,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was acquired at an average price of $13.67 per share, with a total value of $232,390.00. Following the completion of the transaction, the chief executive officer now directly owns 1,208,284 shares in the company, valued at $16,517,242.28. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 3,500 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total transaction of $46,515.00. Following the transaction, the director now owns 13,098 shares of the company’s stock, valued at $174,072.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jon E. Bortz purchased 17,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $13.67 per share, for a total transaction of $232,390.00. Following the acquisition, the chief executive officer now owns 1,208,284 shares in the company, valued at $16,517,242.28. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

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.