Principal Financial Group Inc. Sells 5,022,979 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Principal Financial Group Inc. lowered its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 77.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,497,773 shares of the real estate investment trust's stock after selling 5,022,979 shares during the period. Principal Financial Group Inc. owned approximately 1.25% of Pebblebrook Hotel Trust worth $19,816,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Asset Management One Co. Ltd. boosted its position 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 worth $2,313,000 after purchasing an additional 866 shares during the last quarter. FMR LLC grew its position in Pebblebrook Hotel Trust by 10.8% during the third quarter. FMR LLC now owns 9,069 shares of the real estate investment trust's stock valued at $120,000 after buying an additional 884 shares during the period. Atria Investments Inc increased its holdings in Pebblebrook Hotel Trust by 2.2% during the third quarter. Atria Investments Inc now owns 40,897 shares of the real estate investment trust's stock valued at $541,000 after buying an additional 889 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Pebblebrook Hotel Trust by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 60,600 shares of the real estate investment trust's stock worth $833,000 after acquiring an additional 900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Pebblebrook Hotel Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust's stock worth $63,000 after acquiring an additional 1,212 shares during the last quarter.

Insider Activity

In other news, CEO Jon E. Bortz bought 13,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Thursday, November 21st. The shares were purchased at an average cost of $12.68 per share, with a total value of $164,840.00. Following the completion of the acquisition, the chief executive officer now owns 1,395,284 shares of the company's stock, valued at $17,692,201.12. This trade represents a 0.94 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon E. Bortz sold 11,000 shares of the business's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $21.37, for a total value of $235,070.00. Following the completion of the sale, the chief executive officer now owns 1,349,284 shares in the company, valued at $28,834,199.08. This represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.40% of the company's stock.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE PEB traded down $0.28 during mid-day trading on Friday, reaching $13.58. The company's stock had a trading volume of 997,498 shares, compared to its average volume of 1,679,234. 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 has a 52 week low of $11.65 and a 52 week high of $16.65. The stock has a fifty day moving average of $13.31 and a two-hundred day moving average of $13.24. The firm has a market capitalization of $1.63 billion, a PE ratio of -46.83, a P/E/G ratio of 0.69 and a beta of 1.87.

Pebblebrook Hotel Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Tuesday, December 31st. Pebblebrook Hotel Trust's dividend payout ratio (DPR) is currently -13.79%.

Wall Street Analyst Weigh In

PEB has been the subject of a number of recent research reports. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, December 9th. Stifel Nicolaus raised Pebblebrook Hotel Trust from a "hold" rating to a "buy" rating and raised their price objective for the stock from $14.75 to $15.00 in a research note on Friday, November 22nd. Compass Point upgraded Pebblebrook Hotel Trust from a "neutral" rating to a "buy" rating and set a $17.00 price objective for the company in a research note on Thursday, November 21st. Finally, Truist Financial reduced their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a "hold" rating for the company in a report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Pebblebrook Hotel Trust has a consensus rating of "Hold" and a consensus target price of $14.92.

Pebblebrook Hotel Trust Profile

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.