Public Sector Pension Investment Board Increases Holdings in Pebblebrook Hotel Trust $PEB

Public Sector Pension Investment Board grew its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 14.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 462,479 shares of the real estate investment trust’s stock after buying an additional 57,832 shares during the quarter. Public Sector Pension Investment Board’s holdings in Pebblebrook Hotel Trust were worth $5,268,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its stake in Pebblebrook Hotel Trust by 108.7% in the third quarter. Allianz Asset Management GmbH now owns 707,913 shares of the real estate investment trust’s stock worth $8,063,000 after acquiring an additional 368,681 shares during the period. AQR Capital Management LLC raised its holdings in Pebblebrook Hotel Trust by 376.8% in the 2nd quarter. AQR Capital Management LLC now owns 445,210 shares of the real estate investment trust’s stock worth $4,448,000 after purchasing an additional 351,839 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Pebblebrook Hotel Trust by 41.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 936,280 shares of the real estate investment trust’s stock worth $9,354,000 after purchasing an additional 274,569 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Pebblebrook Hotel Trust during the 2nd quarter valued at about $1,116,000. Finally, Nebula Research & Development LLC increased its position in shares of Pebblebrook Hotel Trust by 97.4% during the second quarter. Nebula Research & Development LLC now owns 195,799 shares of the real estate investment trust’s stock valued at $1,956,000 after buying an additional 96,608 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have commented on PEB shares. Zacks Research lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Stifel Nicolaus set a $13.50 target price on Pebblebrook Hotel Trust in a research report on Thursday, November 6th. Robert W. Baird set a $15.00 price target on Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research report on Monday, January 12th. Compass Point cut Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $12.00 to $11.50 in a research note on Monday, November 10th. Finally, Truist Financial raised their price objective on Pebblebrook Hotel Trust from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, Pebblebrook Hotel Trust presently has an average rating of “Reduce” and a consensus price target of $12.08.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB opened at $12.53 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.42 billion, a P/E ratio of -10.53 and a beta of 1.54. The business’s 50 day moving average price is $11.90 and its 200-day moving average price is $11.26. Pebblebrook Hotel Trust has a 52 week low of $7.41 and a 52 week high of $13.11.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio is currently -3.36%.

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.