Principal Financial Group Inc. lowered its position in shares of Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 77.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,497,773 shares of the real estate investment trust's stock after selling 5,022,979 shares during the quarter. Principal Financial Group Inc. owned approximately 1.24% of Pebblebrook Hotel Trust worth $19,816,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Asset Management One Co. Ltd. increased its stake in Pebblebrook Hotel Trust by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 174,841 shares of the real estate investment trust's stock valued at $2,313,000 after purchasing an additional 866 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Pebblebrook Hotel Trust by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 20,523 shares of the real estate investment trust's stock valued at $247,000 after buying an additional 2,253 shares in the last quarter. abrdn plc raised its stake in Pebblebrook Hotel Trust by 10.2% during the 3rd quarter. abrdn plc now owns 24,579 shares of the real estate investment trust's stock worth $325,000 after buying an additional 2,281 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Pebblebrook Hotel Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 1,212 shares during the period. Finally, Quarry LP increased its holdings in shares of Pebblebrook Hotel Trust by 2,376.9% in the second quarter. Quarry LP now owns 4,508 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 4,326 shares in the last quarter.
Wall Street Analyst Weigh In
Several research firms recently commented on PEB. StockNews.com cut shares of Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company cut their price target on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Truist Financial decreased their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a "hold" rating for the company in a report on Monday, October 28th. Finally, Robert W. Baird cut their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $14.30.
View Our Latest Stock Report on PEB
Pebblebrook Hotel Trust Stock Performance
Shares of NYSE:PEB traded down $0.10 during trading on Friday, reaching $12.19. 1,667,504 shares of the stock were exchanged, compared to its average volume of 1,675,183. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average price of $12.85 and a 200-day moving average price of $13.37. Pebblebrook Hotel Trust has a 12 month low of $11.65 and a 12 month high of $16.65. The firm has a market cap of $1.46 billion, a PE ratio of -41.62, a PEG ratio of 0.60 and a beta of 1.85.
Pebblebrook Hotel Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Monday, September 30th. Pebblebrook Hotel Trust's dividend payout ratio is currently -13.79%.
Insiders Place Their Bets
In other news, CEO Jon E. Bortz sold 11,000 shares of the business's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $21.37, for a total transaction of $235,070.00. Following the completion of the transaction, the chief executive officer now owns 1,349,284 shares of the company's stock, valued at approximately $28,834,199.08. The trade was a 0.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company's stock.
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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