Silvercrest Asset Management Group LLC Decreases Stock Position in Pebblebrook Hotel Trust (NYSE:PEB)

Silvercrest Asset Management Group LLC trimmed its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 98.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,430 shares of the real estate investment trust’s stock after selling 1,447,381 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Pebblebrook Hotel Trust were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEB. abrdn plc boosted its position in Pebblebrook Hotel Trust by 45.2% during the 4th quarter. abrdn plc now owns 35,696 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 11,117 shares in the last quarter. Entropy Technologies LP raised its holdings in shares of Pebblebrook Hotel Trust by 93.3% in the fourth quarter. Entropy Technologies LP now owns 54,880 shares of the real estate investment trust’s stock worth $744,000 after buying an additional 26,487 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Pebblebrook Hotel Trust by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 22,619 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 2,096 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Pebblebrook Hotel Trust by 1.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 177,178 shares of the real estate investment trust’s stock worth $2,406,000 after buying an additional 2,337 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Pebblebrook Hotel Trust by 6.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 317,254 shares of the real estate investment trust’s stock worth $4,299,000 after buying an additional 18,467 shares during the last quarter.

Pebblebrook Hotel Trust Trading Down 5.2%

Pebblebrook Hotel Trust stock opened at $9.13 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 12 month low of $7.41 and a 12 month high of $15.12. The stock’s 50 day simple moving average is $9.44 and its two-hundred day simple moving average is $11.82. The firm has a market cap of $1.08 billion, a PE ratio of -31.46, a P/E/G ratio of 0.60 and a beta of 1.80.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The company had revenue of $320.27 million for the quarter, compared to analysts’ expectations of $311.74 million. Pebblebrook Hotel Trust had a net margin of 0.25% and a return on equity of 0.13%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 EPS. Analysts anticipate that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, March 31st. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -8.33%.

Analysts Set New Price Targets

PEB has been the topic of several research reports. Stifel Nicolaus cut their price target on shares of Pebblebrook Hotel Trust from $16.50 to $13.25 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Truist Financial cut their price target on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Compass Point downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $15.00 in a report on Monday, March 10th. Wedbush set a $9.00 price target on shares of Pebblebrook Hotel Trust and gave the stock an “underperform” rating in a report on Tuesday, May 6th. Finally, Evercore ISI cut their price target on shares of Pebblebrook Hotel Trust from $15.00 to $11.00 and set an “in-line” rating on the stock in a report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Pebblebrook Hotel Trust has a consensus rating of “Hold” and a consensus target price of $12.78.

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.