First Trust Advisors LP Sells 54,185 Shares of Pebblebrook Hotel Trust $PEB

Key Points

• First Trust Advisors LP cut its Pebblebrook Hotel Trust stake by 18.4%, selling 54,185 shares in the first quarter and retaining 240,376 shares valued at approximately $3.04 million.
• Analyst sentiment remains mixed: Zacks upgraded the stock to “strong buy,” while other firms maintained neutral, underweight, or market-perform ratings. The consensus rating is “Hold,” with a $17.13 price target.
• Pebblebrook shares opened at $18.52, near their 52-week high, while the company paid a quarterly dividend of $0.01, equivalent to a 0.2% annualized yield.

First Trust Advisors LP decreased its holdings in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 18.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 240,376 shares of the real estate investment trust's stock after selling 54,185 shares during the quarter. First Trust Advisors LP owned 0.21% of Pebblebrook Hotel Trust worth $3,036,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PEB. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Pebblebrook Hotel Trust during the 1st quarter valued at about $34,000. Quadrant Capital Group LLC raised its holdings in shares of Pebblebrook Hotel Trust by 32.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,220 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 796 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Pebblebrook Hotel Trust during the fourth quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Pebblebrook Hotel Trust by 33.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,465 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 865 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in Pebblebrook Hotel Trust by 188.0% in the fourth quarter. Hantz Financial Services Inc. now owns 5,049 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 3,296 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Zacks Research raised shares of Pebblebrook Hotel Trust from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 15th. Wells Fargo & Company lifted their price objective on Pebblebrook Hotel Trust from $16.00 to $19.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Cantor Fitzgerald upped their price objective on Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Wednesday, May 13th. Morgan Stanley increased their target price on Pebblebrook Hotel Trust from $12.00 to $13.00 and gave the company an "underweight" rating in a report on Friday, July 17th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $17.00 target price on shares of Pebblebrook Hotel Trust in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, Pebblebrook Hotel Trust presently has a consensus rating of "Hold" and a consensus price target of $17.13.

Pebblebrook Hotel Trust Stock Down 3.0%

PEB opened at $18.52 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.83. Pebblebrook Hotel Trust has a 1-year low of $9.30 and a 1-year high of $19.93. The company has a market capitalization of $2.09 billion, a PE ratio of -26.84, a PEG ratio of 1.31 and a beta of 1.40. The firm's 50 day simple moving average is $18.40 and its two-hundred day simple moving average is $14.96.

Pebblebrook Hotel Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 30th. Pebblebrook Hotel Trust's dividend payout ratio is -5.80%.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust NYSE: PEB is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company's investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB's portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.

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