Centersquare Investment Management LLC Acquires 1,805,597 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Centersquare Investment Management LLC grew its position in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 2,448.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,879,327 shares of the real estate investment trust's stock after buying an additional 1,805,597 shares during the period. Centersquare Investment Management LLC owned approximately 1.57% of Pebblebrook Hotel Trust worth $25,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEB. Nordea Investment Management AB raised its holdings in Pebblebrook Hotel Trust by 90.2% during the 4th quarter. Nordea Investment Management AB now owns 746,763 shares of the real estate investment trust's stock worth $10,193,000 after buying an additional 354,116 shares during the period. Fisher Asset Management LLC raised its position in Pebblebrook Hotel Trust by 5.9% in the 4th quarter. Fisher Asset Management LLC now owns 572,994 shares of the real estate investment trust's stock valued at $7,764,000 after buying an additional 31,677 shares during 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 valued at $744,000 after purchasing an additional 26,487 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Pebblebrook Hotel Trust in the fourth quarter valued at $358,000. Finally, Cbre Investment Management Listed Real Assets LLC bought a new stake in Pebblebrook Hotel Trust during the 4th quarter worth about $13,788,000.

Wall Street Analyst Weigh In

PEB has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on 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. 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. Compass Point downgraded shares of Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $17.00 to $15.00 in a report on Monday, March 10th. Wedbush cut shares of Pebblebrook Hotel Trust from a "neutral" rating to an "underperform" rating and set a $13.00 price target for the company. in a research note on Thursday, January 2nd. Finally, Raymond James set a $14.00 price objective on shares of Pebblebrook Hotel Trust and gave the company an "outperform" rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $13.86.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE PEB traded up $0.03 during mid-day trading on Wednesday, reaching $7.74. 849,603 shares of the company were exchanged, compared to its average volume of 2,259,617. The stock has a market capitalization of $926.76 million, a P/E ratio of -26.69, a P/E/G ratio of 0.60 and a beta of 1.69. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The company's 50-day simple moving average is $11.29 and its 200-day simple moving average is $12.61. Pebblebrook Hotel Trust has a twelve month low of $7.41 and a twelve month high of $16.06.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, March 31st. Pebblebrook Hotel Trust's dividend payout ratio is presently -9.30%.

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.