Invesco Ltd. decreased its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 84.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 681,104 shares of the real estate investment trust's stock after selling 3,719,347 shares during the quarter. Invesco Ltd. owned approximately 0.57% of Pebblebrook Hotel Trust worth $9,229,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of PEB. Quadrant Capital Group LLC grew its stake in Pebblebrook Hotel Trust by 100.2% in the fourth quarter. Quadrant Capital Group LLC now owns 2,644 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 1,323 shares in the last quarter. Cibc World Markets Corp bought a new stake in Pebblebrook Hotel Trust in the fourth quarter valued at $151,000. Metis Global Partners LLC boosted its holdings in shares of Pebblebrook Hotel Trust by 11.4% during the fourth quarter. Metis Global Partners LLC now owns 13,823 shares of the real estate investment trust's stock valued at $187,000 after acquiring an additional 1,412 shares during the period. Aigen Investment Management LP bought a new position in shares of Pebblebrook Hotel Trust during the fourth quarter worth about $189,000. Finally, Van ECK Associates Corp lifted its position in Pebblebrook Hotel Trust by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 22,619 shares of the real estate investment trust's stock valued at $306,000 after purchasing an additional 2,096 shares during the last quarter.
Pebblebrook Hotel Trust Stock Up 1.9 %
NYSE PEB traded up $0.17 on Friday, reaching $9.17. The stock had a trading volume of 1,882,740 shares, compared to its average volume of 1,911,597. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -31.62, a P/E/G ratio of 0.60 and a beta of 1.69. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 1 year low of $7.41 and a 1 year high of $15.46. The business has a 50 day moving average price of $10.22 and a 200 day moving average price of $12.18.
Pebblebrook Hotel Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.01 dividend. 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 -9.30%.
Analysts Set New Price Targets
Several brokerages have weighed in on PEB. Stifel Nicolaus cut their target price on Pebblebrook Hotel Trust from $16.50 to $13.25 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. 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 shares of Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $17.00 to $15.00 in a report on Monday, March 10th. Finally, Wedbush lowered 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 investment 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.61.
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Pebblebrook Hotel Trust Profile
(
Free Report)
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.
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