Adage Capital Partners GP L.L.C. Reduces Position in Pebblebrook Hotel Trust (NYSE:PEB)

Adage Capital Partners GP L.L.C. reduced its stake in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 300,000 shares of the real estate investment trust's stock after selling 50,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.25% of Pebblebrook Hotel Trust worth $4,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of PEB. T. Rowe Price Investment Management Inc. boosted its position in Pebblebrook Hotel Trust by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,713,156 shares of the real estate investment trust's stock valued at $90,964,000 after buying an additional 525,991 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Pebblebrook Hotel Trust by 19.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,956,436 shares of the real estate investment trust's stock worth $40,061,000 after purchasing an additional 481,076 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Pebblebrook Hotel Trust by 5.8% during the 4th quarter. Hsbc Holdings PLC now owns 106,583 shares of the real estate investment trust's stock valued at $1,446,000 after purchasing an additional 5,801 shares during the period. MetLife Investment Management LLC raised its position in Pebblebrook Hotel Trust by 7.0% during the 4th quarter. MetLife Investment Management LLC now owns 77,415 shares of the real estate investment trust's stock valued at $1,049,000 after purchasing an additional 5,047 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Pebblebrook Hotel Trust by 72.5% in the 4th quarter. First Trust Advisors LP now owns 211,485 shares of the real estate investment trust's stock worth $2,866,000 after buying an additional 88,887 shares during the period.

Wall Street Analyst Weigh In

PEB has been the subject of a number of recent analyst reports. Raymond James set a $14.00 target price on Pebblebrook Hotel Trust and gave the company an "outperform" rating in a report on Thursday, February 27th. 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. Compass Point downgraded shares of Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $17.00 to $15.00 in a research note on Monday, March 10th. Wells Fargo & Company decreased their target price on Pebblebrook Hotel Trust from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, Evercore ISI reduced their price target on Pebblebrook Hotel Trust from $15.00 to $11.00 and set an "in-line" rating on the stock in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $13.28.

Pebblebrook Hotel Trust Stock Up 0.7 %

Shares of Pebblebrook Hotel Trust stock traded up $0.06 on Monday, reaching $9.20. The company's stock had a trading volume of 302,877 shares, compared to its average volume of 2,300,480. Pebblebrook Hotel Trust has a 52 week low of $7.41 and a 52 week high of $15.46. The firm's fifty day simple moving average is $9.93 and its two-hundred day simple moving average is $12.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -31.79, a P/E/G ratio of 0.60 and a beta of 1.69.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. Pebblebrook Hotel Trust had a net margin of 0.25% and a return on equity of 0.13%. The firm had revenue of $320.27 million during the quarter, compared to analysts' expectations of $311.74 million. During the same period in the previous year, the company earned $0.21 earnings per share. The firm's quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts anticipate that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, March 31st. Pebblebrook Hotel Trust's dividend payout ratio is -9.30%.

Pebblebrook Hotel Trust Company 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.