First Trust Advisors LP Lowers Stock Position in Pebblebrook Hotel Trust $PEB

First Trust Advisors LP cut its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 18.4% in the first quarter, HoldingsChannel reports. The fund owned 240,376 shares of the real estate investment trust’s stock after selling 54,185 shares during the period. First Trust Advisors LP’s holdings in Pebblebrook Hotel Trust were worth $3,036,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEB. Alyeska Investment Group L.P. increased its holdings in Pebblebrook Hotel Trust by 11.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 6,964,179 shares of the real estate investment trust’s stock worth $78,835,000 after acquiring an additional 695,277 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Pebblebrook Hotel Trust by 13.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,180,800 shares of the real estate investment trust’s stock worth $69,969,000 after purchasing an additional 711,042 shares during the period. Millennium Management LLC increased its stake in shares of Pebblebrook Hotel Trust by 46.1% in the fourth quarter. Millennium Management LLC now owns 3,158,256 shares of the real estate investment trust’s stock worth $35,751,000 after purchasing an additional 997,119 shares in the last quarter. Woodline Partners LP increased its stake in shares of Pebblebrook Hotel Trust by 114.6% in the third quarter. Woodline Partners LP now owns 3,150,890 shares of the real estate investment trust’s stock worth $35,889,000 after purchasing an additional 1,682,855 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Pebblebrook Hotel Trust by 6.2% in the fourth quarter. Geode Capital Management LLC now owns 3,033,952 shares of the real estate investment trust’s stock worth $34,350,000 after purchasing an additional 177,466 shares in the last quarter.

Wall Street Analysts Forecast Growth

PEB has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Pebblebrook Hotel Trust from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. LADENBURG THALM/SH SH increased their price target on Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Raymond James Financial reissued an “outperform” rating and set a $18.00 price target on shares of Pebblebrook Hotel Trust in a report on Monday, June 8th. Evercore set a $15.00 price target on Pebblebrook Hotel Trust in a report on Monday, April 27th. Finally, Truist Financial boosted their price objective on Pebblebrook Hotel Trust from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.13.

Pebblebrook Hotel Trust Trading Down 3.0%

Shares of PEB opened at $18.52 on Friday. The firm has a market cap of $2.09 billion, a P/E ratio of -26.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.34 and a quick ratio of 1.34. Pebblebrook Hotel Trust has a 1 year low of $9.30 and a 1 year high of $19.93. The company has a 50 day simple moving average of $18.40 and a two-hundred day simple moving average of $14.96.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.01 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.04 annualized dividend and a yield of 0.2%. Pebblebrook Hotel Trust’s payout ratio is presently -5.80%.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.