Norges Bank Takes Position in Pebblebrook Hotel Trust (NYSE:PEB)

Norges Bank purchased a new stake in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 62,228 shares of the real estate investment trust's stock, valued at approximately $843,000. Norges Bank owned approximately 0.05% of Pebblebrook Hotel Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PEB. FMR LLC grew its position in Pebblebrook Hotel Trust by 10.8% in the third quarter. FMR LLC now owns 9,069 shares of the real estate investment trust's stock valued at $120,000 after purchasing an additional 884 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Pebblebrook Hotel Trust by 42.7% during the 3rd quarter. Captrust Financial Advisors now owns 29,413 shares of the real estate investment trust's stock worth $389,000 after buying an additional 8,806 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Pebblebrook Hotel Trust by 11.3% in the 3rd quarter. Stifel Financial Corp now owns 25,302 shares of the real estate investment trust's stock valued at $335,000 after acquiring an additional 2,575 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Pebblebrook Hotel Trust by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 191,009 shares of the real estate investment trust's stock valued at $2,527,000 after acquiring an additional 1,402 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Pebblebrook Hotel Trust by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust's stock worth $40,272,000 after acquiring an additional 28,871 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PEB shares. Compass Point downgraded Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and decreased their price target for the company from $17.00 to $15.00 in a research note on Monday, March 10th. Stifel Nicolaus decreased their target price on shares of Pebblebrook Hotel Trust from $16.50 to $13.25 and set a "buy" rating for the company in a research note on Wednesday. StockNews.com lowered shares of Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. Truist Financial lowered their price objective on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. Finally, Raymond James set a $14.00 target price on shares of Pebblebrook Hotel Trust and gave the company an "outperform" rating in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $13.61.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB stock traded up $0.03 during midday trading on Thursday, hitting $8.53. 261,618 shares of the company were exchanged, compared to its average volume of 1,905,054. The firm has a market capitalization of $1.01 billion, a P/E ratio of -29.52, a PEG ratio of 0.60 and a beta of 1.69. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. Pebblebrook Hotel Trust has a 52 week low of $7.41 and a 52 week high of $16.06. The firm's 50 day moving average price is $10.71 and its two-hundred day moving average price is $12.39.

Pebblebrook Hotel Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, March 31st. Pebblebrook Hotel Trust's payout ratio is -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.