Prudential Financial Inc. Grows Position in Pebblebrook Hotel Trust (NYSE:PEB)

Prudential Financial Inc. boosted its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 17.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 233,943 shares of the real estate investment trust’s stock after acquiring an additional 35,159 shares during the period. Prudential Financial Inc.’s holdings in Pebblebrook Hotel Trust were worth $3,170,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of PEB. FMR LLC grew its stake in shares of Pebblebrook Hotel Trust by 10.8% in the third quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 884 shares during the period. Cibc World Markets Corp bought a new stake in Pebblebrook Hotel Trust in the 4th quarter worth approximately $151,000. Holocene Advisors LP bought a new stake in Pebblebrook Hotel Trust in the 3rd quarter worth approximately $166,000. Metis Global Partners LLC raised its stake in Pebblebrook Hotel Trust by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 13,823 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,412 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of Pebblebrook Hotel Trust during the 4th quarter valued at $189,000.

Analyst Ratings Changes

Several analysts recently commented on PEB shares. Truist Financial cut their price objective on Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their price objective on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Compass Point cut shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and reduced their target price for the company from $17.00 to $15.00 in a report on Monday, March 10th. Finally, Raymond James set a $14.00 price target on shares of Pebblebrook Hotel Trust and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $13.86.

Pebblebrook Hotel Trust Stock Performance

PEB opened at $10.51 on Thursday. The firm has a market cap of $1.26 billion, a P/E ratio of -36.24, a PEG ratio of 0.60 and a beta of 1.87. Pebblebrook Hotel Trust has a 1-year low of $9.93 and a 1-year high of $16.06. The company has a 50 day simple moving average of $11.85 and a two-hundred day simple moving average of $12.80. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.38%. Pebblebrook Hotel Trust’s 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.