Pebblebrook Hotel Trust (NYSE:PEB) Stock Position Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 182,669 shares of the real estate investment trust’s stock after selling 6,612 shares during the period. New York State Teachers Retirement System owned 0.15% of Pebblebrook Hotel Trust worth $2,475,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd grew its position in Pebblebrook Hotel Trust by 80.1% in the 3rd quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,989 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Pebblebrook Hotel Trust by 35.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,212 shares during the last quarter. FMR LLC lifted its position in shares of Pebblebrook Hotel Trust by 10.8% in the 3rd quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 884 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Pebblebrook Hotel Trust in the 3rd quarter valued at approximately $133,000. Finally, Metis Global Partners LLC purchased a new stake in shares of Pebblebrook Hotel Trust in the 3rd quarter valued at approximately $164,000.

Analyst Ratings Changes

Several research analysts have weighed in on PEB shares. Wells Fargo & Company dropped their price objective on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.75 to $15.00 in a research note on Friday, November 22nd. Wedbush downgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price objective for the company. in a report on Thursday, January 2nd. Truist Financial decreased their price objective on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Compass Point raised shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a report on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.17.

Pebblebrook Hotel Trust Price Performance

NYSE:PEB opened at $11.89 on Friday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -41.00, a PEG ratio of 0.60 and a beta of 1.85. 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 50-day moving average of $13.26 and a 200-day moving average of $13.12. Pebblebrook Hotel Trust has a 52 week low of $11.65 and a 52 week high of $16.61.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Tuesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -13.79%.

Pebblebrook Hotel Trust 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.