Prudential Financial Inc. Acquires 35,159 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Prudential Financial Inc. raised its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 17.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,943 shares of the real estate investment trust’s stock after purchasing an additional 35,159 shares during the period. Prudential Financial Inc. owned 0.20% of Pebblebrook Hotel Trust worth $3,170,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PEB. KLP Kapitalforvaltning AS bought a new position in shares of Pebblebrook Hotel Trust during the fourth quarter valued at approximately $306,000. Sei Investments Co. raised its holdings in Pebblebrook Hotel Trust by 0.3% in the 4th quarter. Sei Investments Co. now owns 397,337 shares of the real estate investment trust’s stock worth $5,384,000 after purchasing an additional 1,098 shares in the last quarter. Palogic Value Management L.P. lifted its position in shares of Pebblebrook Hotel Trust by 11.5% in the 4th quarter. Palogic Value Management L.P. now owns 194,000 shares of the real estate investment trust’s stock worth $2,629,000 after purchasing an additional 20,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Pebblebrook Hotel Trust by 37.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,171 shares of the real estate investment trust’s stock valued at $870,000 after purchasing an additional 17,438 shares in the last quarter. Finally, Boston Partners increased its position in shares of Pebblebrook Hotel Trust by 19.4% during the fourth quarter. Boston Partners now owns 68,728 shares of the real estate investment trust’s stock valued at $931,000 after buying an additional 11,165 shares during the period.

Analysts Set New Price Targets

Several research firms have weighed in on PEB. Raymond James set a $14.00 price objective on Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research report on Thursday, February 27th. Truist Financial dropped their price target 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 downgraded 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. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Finally, Compass Point lowered 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 note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Pebblebrook Hotel Trust currently has a consensus rating of “Hold” and a consensus target price of $13.86.

Pebblebrook Hotel Trust Stock Performance

Shares of Pebblebrook Hotel Trust stock opened at $10.51 on Thursday. Pebblebrook Hotel Trust has a 1 year low of $9.93 and a 1 year high of $16.06. The firm’s 50-day moving average is $11.85 and its 200 day moving average is $12.80. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -36.24, a PEG ratio of 0.60 and a beta of 1.87. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.01 dividend. 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 dividend payout ratio is presently -9.30%.

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.