Rhumbline Advisers Has $3.82 Million Stock Position in Pebblebrook Hotel Trust (NYSE:PEB)

Rhumbline Advisers lowered its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 9.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 376,701 shares of the real estate investment trust's stock after selling 38,446 shares during the period. Rhumbline Advisers owned approximately 0.31% of Pebblebrook Hotel Trust worth $3,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEB. Van ECK Associates Corp boosted its holdings in Pebblebrook Hotel Trust by 10.2% during the fourth quarter. Van ECK Associates Corp now owns 22,619 shares of the real estate investment trust's stock worth $306,000 after buying an additional 2,096 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Pebblebrook Hotel Trust by 1.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 177,178 shares of the real estate investment trust's stock worth $2,406,000 after buying an additional 2,337 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Pebblebrook Hotel Trust by 6.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 317,254 shares of the real estate investment trust's stock worth $4,299,000 after purchasing an additional 18,467 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the fourth quarter worth about $470,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Pebblebrook Hotel Trust during the fourth quarter worth about $358,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PEB. Wedbush set a $9.00 price target on Pebblebrook Hotel Trust and gave the stock an "underperform" rating in a research report on Tuesday, May 6th. Wells Fargo & Company dropped their price target 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. Compass Point lowered Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $17.00 to $15.00 in a research report on Monday, March 10th. Truist Financial set a $9.00 price target on Pebblebrook Hotel Trust and gave the stock a "hold" rating in a research report on Monday, June 2nd. Finally, Wall Street Zen lowered Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Pebblebrook Hotel Trust presently has an average rating of "Hold" and a consensus price target of $12.28.

Pebblebrook Hotel Trust Stock Up 1.1%

Pebblebrook Hotel Trust stock traded up $0.10 during midday trading on Wednesday, reaching $9.59. The stock had a trading volume of 3,334,748 shares, compared to its average volume of 2,036,661. The firm's fifty day simple moving average is $9.25 and its 200-day simple moving average is $11.32. Pebblebrook Hotel Trust has a 1-year low of $7.41 and a 1-year high of $15.12. The stock has a market capitalization of $1.14 billion, a P/E ratio of -19.99 and a beta of 1.74. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.09 and a current ratio of 1.09.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. Pebblebrook Hotel Trust had a negative return on equity of 0.32% and a negative net margin of 0.61%. The business had revenue of $320.27 million for the quarter, compared to analyst estimates of $311.74 million. During the same quarter last year, the firm earned $0.21 EPS. Pebblebrook Hotel Trust's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts expect that Pebblebrook Hotel Trust will post 1.5 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, June 30th. Pebblebrook Hotel Trust's dividend payout ratio 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.