New York State Common Retirement Fund Sells 2,531,623 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

New York State Common Retirement Fund lowered its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 75.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 822,756 shares of the real estate investment trust’s stock after selling 2,531,623 shares during the period. New York State Common Retirement Fund owned 0.68% of Pebblebrook Hotel Trust worth $13,148,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. William Blair Investment Management LLC lifted its stake in Pebblebrook Hotel Trust by 49.8% in the third quarter. William Blair Investment Management LLC now owns 3,656,930 shares of the real estate investment trust’s stock valued at $49,698,000 after acquiring an additional 1,215,683 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Pebblebrook Hotel Trust by 81.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 582,908 shares of the real estate investment trust’s stock valued at $7,922,000 after purchasing an additional 262,200 shares during the last quarter. Phocas Financial Corp. grew its holdings in Pebblebrook Hotel Trust by 437.3% during the fourth quarter. Phocas Financial Corp. now owns 220,570 shares of the real estate investment trust’s stock worth $3,525,000 after purchasing an additional 179,518 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in Pebblebrook Hotel Trust by 1.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 9,084,090 shares of the real estate investment trust’s stock worth $123,453,000 after buying an additional 140,799 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Pebblebrook Hotel Trust by 1.6% in the third quarter. Principal Financial Group Inc. now owns 7,009,009 shares of the real estate investment trust’s stock valued at $95,252,000 after buying an additional 112,616 shares during the period.

Insider Buying and Selling

In other news, insider Thomas Charles Fisher sold 11,441 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.62, for a total value of $178,708.42. Following the completion of the transaction, the insider now directly owns 254,449 shares in the company, valued at approximately $3,974,493.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by company insiders.

Pebblebrook Hotel Trust Trading Up 0.3 %

Shares of NYSE:PEB opened at $15.01 on Tuesday. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65. The company’s 50 day moving average price is $15.59 and its two-hundred day moving average price is $14.72. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.46 and a current ratio of 0.46.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.48). Pebblebrook Hotel Trust had a negative return on equity of 2.88% and a negative net margin of 5.84%. The company had revenue of $314.10 million for the quarter, compared to analyst estimates of $304.34 million. During the same period in the prior year, the company earned $0.18 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Pebblebrook Hotel Trust will post 1.58 earnings per share for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.27%. Pebblebrook Hotel Trust’s dividend payout ratio is -3.92%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PEB. Truist Financial boosted their target price on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Thursday, January 18th. Compass Point restated a “neutral” rating and set a $17.00 target price on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. Bank of America lowered shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.50 price target on the stock. in a research note on Monday, January 8th. Finally, StockNews.com upgraded Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.69.

About Pebblebrook Hotel Trust

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.