Public Employees Retirement System of Ohio Sells 28,777 Shares of Pebblebrook Hotel Trust $PEB

Public Employees Retirement System of Ohio lowered its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 17.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,280 shares of the real estate investment trust’s stock after selling 28,777 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.12% of Pebblebrook Hotel Trust worth $1,671,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PEB. Whittier Trust Co. of Nevada Inc. acquired a new position in Pebblebrook Hotel Trust in the first quarter valued at approximately $34,000. Quadrant Capital Group LLC grew its position in shares of Pebblebrook Hotel Trust by 32.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,220 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 796 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Pebblebrook Hotel Trust during the 4th quarter worth approximately $38,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Pebblebrook Hotel Trust by 33.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,465 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 865 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of Pebblebrook Hotel Trust by 188.0% in the 4th quarter. Hantz Financial Services Inc. now owns 5,049 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 3,296 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PEB. Morgan Stanley boosted their target price on shares of Pebblebrook Hotel Trust from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, July 17th. Cantor Fitzgerald lifted their price target on shares of Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Truist Financial upped their price objective on shares of Pebblebrook Hotel Trust from $17.00 to $22.00 and gave the company a “buy” rating in a report on Monday, June 29th. Barclays increased their price objective on shares of Pebblebrook Hotel Trust from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Finally, Raymond James Financial restated an “outperform” rating and issued a $18.00 target price on shares of Pebblebrook Hotel Trust in a research note on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $17.13.

More Pebblebrook Hotel Trust News

Here are the key news stories impacting Pebblebrook Hotel Trust this week:

• Positive Sentiment: Stifel raises target and keeps a Buy rating: Stifel Nicolaus lifted its price target from $20.25 to $21.25, implying additional upside and reinforcing its positive view of Pebblebrook’s outlook. Benzinga analyst price-target update
• Positive Sentiment: Ladenburg raises target: Ladenburg Thalmann increased its price target from $19.00 to $21.00. Although its rating remains Neutral, the higher target suggests improved expectations for the hotel real estate investment trust. Benzinga analyst price-target update
• Positive Sentiment: Second-quarter results and outlook attract attention: Coverage of Pebblebrook’s Q2 earnings and conference call highlighted a resilient upswing, while comparisons with estimates are giving investors additional detail on the company’s operating performance. The company’s latest reported results included revenue above expectations and an adjusted loss narrower than analysts anticipated. TipRanks earnings-call report Zacks Q2 earnings analysis
• Neutral Sentiment: Analyst consensus remains cautious: Pebblebrook receives an average “Hold” recommendation, indicating that the improved price targets have not yet translated into broad-based conviction among analysts. American Banking News analyst consensus

Pebblebrook Hotel Trust Price Performance

Shares of NYSE:PEB opened at $19.10 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.83. Pebblebrook Hotel Trust has a twelve month low of $9.30 and a twelve month high of $19.93. The stock’s 50 day moving average is $18.09 and its 200-day moving average is $14.77. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of -27.68, a PEG ratio of 1.32 and a beta of 1.40.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, June 30th. Pebblebrook Hotel Trust’s payout ratio is -5.80%.

Pebblebrook Hotel Trust Company Profile

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.