Millennium Management LLC Has $20.22 Million Stock Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Millennium Management LLC trimmed its holdings in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 13.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,492,567 shares of the real estate investment trust's stock after selling 227,902 shares during the quarter. Millennium Management LLC owned 1.25% of Pebblebrook Hotel Trust worth $20,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PEB. Centersquare Investment Management LLC boosted its position in shares of Pebblebrook Hotel Trust by 2,448.9% in the fourth quarter. Centersquare Investment Management LLC now owns 1,879,327 shares of the real estate investment trust's stock valued at $25,465,000 after acquiring an additional 1,805,597 shares during the period. Alyeska Investment Group L.P. raised its stake in shares of Pebblebrook Hotel Trust by 43.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,167,770 shares of the real estate investment trust's stock valued at $56,473,000 after purchasing an additional 1,260,077 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC acquired a new position in shares of Pebblebrook Hotel Trust in the fourth quarter valued at $13,788,000. Landmark Investment Partners L.P. acquired a new position in shares of Pebblebrook Hotel Trust in the fourth quarter valued at $13,075,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Pebblebrook Hotel Trust in the fourth quarter valued at $8,993,000.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wedbush set a $9.00 target price on Pebblebrook Hotel Trust and gave the company an "underperform" rating in a research note on Tuesday, May 6th. Raymond James set a $14.00 target price on Pebblebrook Hotel Trust and gave the company an "outperform" rating in a research note on Thursday, February 27th. Truist Financial cut their target price on Pebblebrook Hotel Trust from $14.00 to $13.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company cut 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 note on Tuesday, February 18th. Finally, Compass Point lowered Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and cut their target price for the company from $17.00 to $15.00 in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Pebblebrook Hotel Trust has a consensus rating of "Hold" and a consensus target price of $12.78.

Pebblebrook Hotel Trust Price Performance

Pebblebrook Hotel Trust stock traded down $0.20 during mid-day trading on Monday, hitting $8.88. 1,837,161 shares of the company were exchanged, compared to its average volume of 1,966,426. 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 business has a fifty day moving average of $9.33 and a 200 day moving average of $11.73. Pebblebrook Hotel Trust has a 1-year low of $7.41 and a 1-year high of $15.12. The company has a market capitalization of $1.05 billion, a PE ratio of -30.60, a price-to-earnings-growth ratio of 0.60 and a beta of 1.80.

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 (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. Pebblebrook Hotel Trust had a return on equity of 0.13% and a net margin of 0.25%. The firm had revenue of $320.27 million during the quarter, compared to analyst estimates of $311.74 million. During the same period in the prior year, the company posted $0.21 earnings per share. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, sell-side analysts expect that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.45%. Pebblebrook Hotel Trust's dividend payout ratio (DPR) is presently -8.33%.

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.