Rhumbline Advisers Sells 38,446 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Rhumbline Advisers lessened its holdings in 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 SEC. The firm owned 376,701 shares of the real estate investment trust's stock after selling 38,446 shares during the quarter. Rhumbline Advisers owned about 0.31% of Pebblebrook Hotel Trust worth $3,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PEB. Van ECK Associates Corp grew its stake in shares of Pebblebrook Hotel Trust by 10.2% in the 4th 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% in 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 acquiring an additional 2,337 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Pebblebrook Hotel Trust by 6.2% in 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 acquiring an additional 18,467 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Pebblebrook Hotel Trust in the fourth quarter worth $470,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Pebblebrook Hotel Trust during the fourth quarter valued at $358,000.

Pebblebrook Hotel Trust Trading Down 4.3%

Shares of PEB stock opened at $8.96 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 12-month low of $7.41 and a 12-month high of $15.12. The stock has a market capitalization of $1.06 billion, a P/E ratio of -30.90, a P/E/G ratio of 0.60 and a beta of 1.74. The firm's 50 day moving average is $9.20 and its 200 day moving average is $11.39.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last released its quarterly earnings results 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 return on equity of 0.13% and a net margin of 0.25%. The firm had revenue of $320.27 million for the quarter, compared to analysts' expectations of $311.74 million. During the same period in the prior year, the firm earned $0.21 EPS. The company's revenue was up 2.0% compared to the same quarter last year. Research analysts expect that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current year.

Analyst Ratings Changes

PEB has been the topic of a number of analyst reports. Truist Financial set a $9.00 price target on shares of Pebblebrook Hotel Trust and gave the stock a "hold" rating in a research note on Monday, June 2nd. Compass Point downgraded shares of Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $17.00 to $15.00 in a research note on Monday, March 10th. Evercore ISI reduced their price target on shares of Pebblebrook Hotel Trust from $15.00 to $11.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Wedbush set a $9.00 price objective on shares of Pebblebrook Hotel Trust and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen downgraded Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $12.28.

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.

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