47,298 Shares in Pebblebrook Hotel Trust (NYSE:PEB) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in shares of Pebblebrook Hotel Trust (NYSE:PEB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 47,298 shares of the real estate investment trust's stock, valued at approximately $642,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of 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 worth $120,000 after purchasing an additional 884 shares during the period. Cibc World Markets Corp bought a new position in Pebblebrook Hotel Trust during the 4th quarter valued at approximately $151,000. Quadrature Capital Ltd purchased a new stake in Pebblebrook Hotel Trust in the 3rd quarter worth approximately $185,000. Metis Global Partners LLC lifted its holdings in Pebblebrook Hotel Trust by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 13,823 shares of the real estate investment trust's stock worth $187,000 after buying an additional 1,412 shares during the period. Finally, Aigen Investment Management LP bought a new stake in shares of Pebblebrook Hotel Trust in the 4th quarter worth approximately $189,000.

Pebblebrook Hotel Trust Stock Up 1.3 %

Shares of NYSE PEB traded up $0.11 on Wednesday, reaching $8.58. 211,587 shares of the company's stock traded hands, compared to its average volume of 2,329,517. The business's 50 day simple moving average is $10.80 and its two-hundred day simple moving average is $12.42. Pebblebrook Hotel Trust has a 12 month low of $7.41 and a 12 month high of $16.06. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -29.62, a price-to-earnings-growth 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.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 31st. Pebblebrook Hotel Trust's payout ratio is -9.30%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PEB. StockNews.com lowered Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. Compass Point cut shares of Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $17.00 to $15.00 in a research report on Monday, March 10th. Truist Financial cut their target price on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Raymond James set a $14.00 price target on shares of Pebblebrook Hotel Trust and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Finally, Wells Fargo & Company cut their price objective on Pebblebrook Hotel Trust from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $13.61.

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.