State of New Jersey Common Pension Fund D Sells 22,589 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

State of New Jersey Common Pension Fund D reduced its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 420,294 shares of the real estate investment trust’s stock after selling 22,589 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.35% of Pebblebrook Hotel Trust worth $6,716,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. William Blair Investment Management LLC boosted its holdings in shares of Pebblebrook Hotel Trust by 49.8% in the 3rd quarter. William Blair Investment Management LLC now owns 3,656,930 shares of the real estate investment trust’s stock worth $49,698,000 after purchasing an additional 1,215,683 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Pebblebrook Hotel Trust by 81.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 582,908 shares of the real estate investment trust’s stock valued at $7,922,000 after purchasing an additional 262,200 shares during the last quarter. Phocas Financial Corp. raised its position in Pebblebrook Hotel Trust by 437.3% during the 4th quarter. Phocas Financial Corp. now owns 220,570 shares of the real estate investment trust’s stock valued at $3,525,000 after purchasing an additional 179,518 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Pebblebrook Hotel Trust by 1.6% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 9,084,090 shares of the real estate investment trust’s stock valued at $123,453,000 after purchasing an additional 140,799 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Pebblebrook Hotel Trust by 1.6% during the 3rd quarter. Principal Financial Group Inc. now owns 7,009,009 shares of the real estate investment trust’s stock valued at $95,252,000 after purchasing an additional 112,616 shares during the last quarter.

Pebblebrook Hotel Trust Stock Performance

NYSE PEB traded down $0.04 on Friday, hitting $14.96. 935,244 shares of the company traded hands, compared to its average volume of 1,575,948. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -14.71, a P/E/G ratio of 0.71 and a beta of 1.86. The company has a current ratio of 0.46, a quick ratio of 0.97 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average price is $15.63 and its 200-day moving average price is $14.67. Pebblebrook Hotel Trust has a 52-week low of $11.39 and a 52-week high of $16.65.

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 for the quarter, missing the consensus estimate of $0.16 by ($0.48). The company had revenue of $314.10 million for 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 firm posted $0.18 earnings per share. Equities analysts expect that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.27%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -3.92%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America lowered Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.50 target price for the company. in a research report on Monday, January 8th. StockNews.com raised Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research report on Wednesday. Compass Point reissued a “neutral” rating and issued a $17.00 target price on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Finally, Truist Financial raised their price objective on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, Pebblebrook Hotel Trust presently has an average rating of “Hold” and a consensus price target of $14.78.

Insider Activity at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.62, for a total transaction of $178,708.42. Following the sale, the insider now directly owns 254,449 shares of the company’s stock, valued at $3,974,493.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

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.