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

PNC Financial Services Group Inc. lowered its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 45.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,544 shares of the real estate investment trust’s stock after selling 2,895 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pebblebrook Hotel Trust were worth $48,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PEB. Victory Capital Management Inc. raised its stake in shares of Pebblebrook Hotel Trust by 24.5% during the 3rd quarter. Victory Capital Management Inc. now owns 100,169 shares of the real estate investment trust’s stock worth $1,325,000 after buying an additional 19,725 shares during the period. Intech Investment Management LLC acquired a new position in Pebblebrook Hotel Trust during the third quarter worth $403,000. Charles Schwab Investment Management Inc. lifted its holdings in Pebblebrook Hotel Trust by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,418,159 shares of the real estate investment trust’s stock valued at $31,992,000 after purchasing an additional 130,265 shares in the last quarter. Cerity Partners LLC lifted its holdings in Pebblebrook Hotel Trust by 35.1% during the third quarter. Cerity Partners LLC now owns 34,806 shares of the real estate investment trust’s stock valued at $460,000 after purchasing an additional 9,045 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Pebblebrook Hotel Trust by 6.0% in the third quarter. Daiwa Securities Group Inc. now owns 40,328 shares of the real estate investment trust’s stock valued at $534,000 after purchasing an additional 2,278 shares during the period.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Raymond James set a $14.00 price target on shares of Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research note on Thursday, February 27th. Truist Financial decreased their target price on Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Wedbush cut Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price target for the company. in a research report on Thursday, January 2nd. StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their target price 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.86.

Pebblebrook Hotel Trust Stock Performance

NYSE PEB opened at $10.47 on Thursday. 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 stock’s fifty day moving average is $12.20 and its two-hundred day moving average is $12.88. The firm has a market capitalization of $1.25 billion, a P/E ratio of -36.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.87. Pebblebrook Hotel Trust has a fifty-two week low of $9.97 and a fifty-two week high of $16.06.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. Pebblebrook Hotel Trust’s payout ratio is -9.30%.

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.