Geode Capital Management LLC Sells 38,582 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Geode Capital Management LLC reduced its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,004,891 shares of the real estate investment trust's stock after selling 38,582 shares during the period. Geode Capital Management LLC owned 2.51% of Pebblebrook Hotel Trust worth $40,725,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PEB. Charles Schwab Investment Management Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,504,751 shares of the real estate investment trust's stock worth $33,939,000 after acquiring an additional 86,592 shares during the period. William Blair Investment Management LLC lifted its position in shares of Pebblebrook Hotel Trust by 2.3% in the 4th quarter. William Blair Investment Management LLC now owns 2,159,201 shares of the real estate investment trust's stock worth $29,257,000 after purchasing an additional 49,183 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Pebblebrook Hotel Trust by 82.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,399,856 shares of the real estate investment trust's stock worth $18,968,000 after purchasing an additional 633,881 shares during the period. Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Pebblebrook Hotel Trust in the 4th quarter valued at $13,788,000. Finally, Nordea Investment Management AB increased its position in shares of Pebblebrook Hotel Trust by 90.2% during the fourth quarter. Nordea Investment Management AB now owns 746,763 shares of the real estate investment trust's stock worth $10,193,000 after buying an additional 354,116 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PEB. Compass Point cut shares of Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and cut their price target for the company from $17.00 to $15.00 in a research report on Monday, March 10th. Truist Financial decreased 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. Stifel Nicolaus cut their price target on Pebblebrook Hotel Trust from $16.50 to $13.25 and set a "buy" rating on the stock in a report on Wednesday. Wedbush lowered shares of Pebblebrook Hotel Trust from a "neutral" rating to an "underperform" rating and set a $13.00 price objective for the company. in a research note on Thursday, January 2nd. Finally, Raymond James set a $14.00 target price on shares of Pebblebrook Hotel Trust and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Pebblebrook Hotel Trust has an average rating of "Hold" and an average target price of $13.61.

Pebblebrook Hotel Trust Stock Up 2.2 %

NYSE PEB traded up $0.19 during mid-day trading on Friday, hitting $8.69. The company's stock had a trading volume of 2,429,399 shares, compared to its average volume of 1,920,983. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The company's 50 day simple moving average is $10.56 and its 200 day simple moving average is $12.32. Pebblebrook Hotel Trust has a twelve month low of $7.41 and a twelve month high of $16.06. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -29.95, a PEG ratio of 0.60 and a beta of 1.69.

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 given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, March 31st. Pebblebrook Hotel Trust's payout ratio is presently -9.30%.

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.