Pebblebrook Hotel Trust (NYSE:PEB) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,000 shares of the real estate investment trust’s stock after selling 50,000 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Pebblebrook Hotel Trust were worth $4,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PEB. Centersquare Investment Management LLC grew its stake in Pebblebrook Hotel Trust by 2,448.9% during the 4th quarter. Centersquare Investment Management LLC now owns 1,879,327 shares of the real estate investment trust’s stock worth $25,465,000 after buying an additional 1,805,597 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of Pebblebrook Hotel Trust during the fourth quarter valued at $13,788,000. Arrowstreet Capital Limited Partnership grew its position in shares of Pebblebrook Hotel Trust by 82.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,399,856 shares of the real estate investment trust’s stock worth $18,968,000 after acquiring an additional 633,881 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Pebblebrook Hotel Trust by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,713,156 shares of the real estate investment trust’s stock worth $90,964,000 after acquiring an additional 525,991 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Pebblebrook Hotel Trust by 19.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,956,436 shares of the real estate investment trust’s stock worth $40,061,000 after acquiring an additional 481,076 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on PEB shares. Wells Fargo & Company decreased their target price on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Compass Point cut Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and lowered their target price for the company from $17.00 to $15.00 in a research report on Monday, March 10th. Truist Financial cut their target price on Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Raymond James set a $14.00 price target on Pebblebrook Hotel Trust and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Finally, Wedbush cut shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price objective on the stock. in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.28.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE PEB opened at $9.03 on Wednesday. Pebblebrook Hotel Trust has a twelve month low of $7.41 and a twelve month high of $15.46. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average of $10.09 and a two-hundred day moving average of $12.13. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -31.12, a PEG ratio of 0.60 and a beta of 1.69.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 was Monday, March 31st. Pebblebrook Hotel Trust’s dividend payout ratio is presently -9.30%.

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.