Mirae Asset Global Investments Co. Ltd. Has $46,000 Position in Pebblebrook Hotel Trust (NYSE:PEB)

Mirae Asset Global Investments Co. Ltd. cut its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 28.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,363 shares of the real estate investment trust’s stock after selling 1,314 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Pebblebrook Hotel Trust were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. abrdn plc boosted its holdings in shares of Pebblebrook Hotel Trust by 45.2% during the 4th quarter. abrdn plc now owns 35,696 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 11,117 shares in the last quarter. Nordea Investment Management AB boosted its stake in 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 in the last quarter. Geode Capital Management LLC grew its holdings in Pebblebrook Hotel Trust by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust’s stock worth $40,272,000 after purchasing an additional 28,871 shares during the period. Public Employees Retirement System of Ohio increased its stake in Pebblebrook Hotel Trust by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 191,009 shares of the real estate investment trust’s stock valued at $2,527,000 after purchasing an additional 1,402 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Pebblebrook Hotel Trust by 11.3% in the 3rd quarter. Stifel Financial Corp now owns 25,302 shares of the real estate investment trust’s stock valued at $335,000 after buying an additional 2,575 shares during the period.

Insiders Place Their Bets

In related news, CEO Jon E. Bortz purchased 13,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average price of $12.68 per share, with a total value of $164,840.00. Following 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

PEB has been the topic of a number of research reports. Wells Fargo & Company upped their price target on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Compass Point upgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday, November 21st. 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. StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.75 to $15.00 in a research note on Friday, November 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.67.

Pebblebrook Hotel Trust Stock Performance

Shares of Pebblebrook Hotel Trust stock opened at $12.21 on Friday. The firm has a market capitalization of $1.46 billion, a P/E ratio of -42.08, a price-to-earnings-growth ratio of 0.62 and a beta of 1.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The business’s fifty day simple moving average is $13.54 and its 200 day simple moving average is $13.16. Pebblebrook Hotel Trust has a 12 month low of $11.65 and a 12 month high of $16.65.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Tuesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) 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.