Vestcor Inc Invests $1.48 Million in Pebblebrook Hotel Trust (NYSE:PEB)

Vestcor Inc 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 & Exchange Commission. The firm purchased 109,455 shares of the real estate investment trust's stock, valued at approximately $1,483,000. Vestcor Inc owned about 0.09% of Pebblebrook Hotel Trust at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. FMR LLC increased its position 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 valued at $120,000 after acquiring an additional 884 shares during the last quarter. FORA Capital LLC acquired a new position in shares of Pebblebrook Hotel Trust in the third quarter valued at approximately $133,000. Metis Global Partners LLC acquired a new position in shares of Pebblebrook Hotel Trust in the third quarter valued at approximately $164,000. Holocene Advisors LP acquired a new position in shares of Pebblebrook Hotel Trust in the third quarter valued at approximately $166,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Pebblebrook Hotel Trust in the third quarter valued at approximately $185,000.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PEB. Raymond James set a $14.00 price objective on shares of Pebblebrook Hotel Trust and gave the company an "outperform" rating in a report on Thursday, February 27th. Compass Point cut shares of Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $17.00 to $15.00 in a report on Monday, March 10th. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a "hold" rating to a "buy" rating and lifted their price objective for the company from $14.75 to $15.00 in a report on Friday, November 22nd. Wells Fargo & Company dropped their price objective on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. Finally, StockNews.com cut shares of Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Pebblebrook Hotel Trust has a consensus rating of "Hold" and an average price target of $13.86.

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Pebblebrook Hotel Trust Stock Up 1.5 %

NYSE PEB traded up $0.16 on Wednesday, hitting $10.70. 1,857,437 shares of the stock were exchanged, compared to its average volume of 2,160,674. The company has a market cap of $1.28 billion, a PE ratio of -36.88, a PEG ratio of 0.60 and a beta of 1.87. 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 has a fifty-two week low of $10.31 and a fifty-two week high of $16.19. The company has a 50-day moving average price of $12.53 and a 200-day moving average price of $12.98.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.01 per share. The ex-dividend date is Monday, March 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.37%. Pebblebrook Hotel Trust's dividend payout ratio is presently -9.30%.

About Pebblebrook Hotel Trust

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.