Norges Bank acquired a new position in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 62,228 shares of the real estate investment trust's stock, valued at approximately $843,000. Norges Bank owned approximately 0.05% of Pebblebrook Hotel Trust at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC raised its position in shares of Pebblebrook Hotel Trust by 10.8% in the 3rd quarter. FMR LLC now owns 9,069 shares of the real estate investment trust's stock worth $120,000 after acquiring an additional 884 shares in the last quarter. Cibc World Markets Corp bought a new position in Pebblebrook Hotel Trust in the fourth quarter worth $151,000. Metis Global Partners LLC lifted its position in 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 buying an additional 1,412 shares during the period. Aigen Investment Management LP bought a new stake in shares of Pebblebrook Hotel Trust during the 4th quarter valued at $189,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Pebblebrook Hotel Trust in the 4th quarter worth about $306,000.
Pebblebrook Hotel Trust Stock Performance
Shares of PEB stock traded down $0.07 during trading hours on Tuesday, reaching $8.47. 2,265,394 shares of the company traded hands, compared to its average volume of 1,907,119. The firm has a 50-day moving average price of $10.89 and a 200 day moving average price of $12.44. The company has a market cap of $1.01 billion, a P/E ratio of -29.21, a P/E/G ratio of 0.60 and a beta of 1.69. Pebblebrook Hotel Trust has a 12-month low of $7.41 and a 12-month high of $16.06. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81.
Pebblebrook Hotel Trust Dividend Announcement
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 paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.47%. Pebblebrook Hotel Trust's dividend payout ratio (DPR) is presently -9.30%.
Wall Street Analysts Forecast Growth
PEB has been the topic of a number of recent research reports. Compass Point cut Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and cut their target price for the stock from $17.00 to $15.00 in a research note on Monday, March 10th. Wells Fargo & Company cut their price target on shares of 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. StockNews.com lowered Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Raymond James set a $14.00 price objective on Pebblebrook Hotel Trust and gave the company an "outperform" rating in a research report 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 for the company. in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $13.86.
Get Our Latest Analysis on PEB
About Pebblebrook Hotel Trust
(
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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