Nordea Investment Management AB Purchases 112,472 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Nordea Investment Management AB grew its holdings in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 54.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 317,276 shares of the real estate investment trust's stock after acquiring an additional 112,472 shares during the period. Nordea Investment Management AB owned about 0.26% of Pebblebrook Hotel Trust worth $5,122,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PEB. Allspring Global Investments Holdings LLC grew its holdings in Pebblebrook Hotel Trust by 13.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the real estate investment trust's stock valued at $104,000 after purchasing an additional 884 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Pebblebrook Hotel Trust by 76.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,525 shares of the real estate investment trust's stock valued at $105,000 after buying an additional 3,256 shares in the last quarter. XTX Topco Ltd acquired a new stake in Pebblebrook Hotel Trust during the first quarter valued at approximately $142,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Pebblebrook Hotel Trust during the third quarter valued at approximately $148,000. Finally, PNC Financial Services Group Inc. raised its stake in Pebblebrook Hotel Trust by 11.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,653 shares of the real estate investment trust's stock valued at $156,000 after buying an additional 1,199 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on PEB shares. Wells Fargo & Company increased their price target on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Friday, December 22nd. Bank of America cut Pebblebrook Hotel Trust from a "neutral" rating to an "underperform" rating and set a $13.50 target price on the stock. in a research report on Monday, January 8th. Finally, Truist Financial raised their target price on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $14.50.

Insider Activity

In other news, insider Thomas Charles Fisher sold 11,441 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.62, for a total value of $178,708.42. Following the completion of the sale, the insider now directly owns 254,449 shares of the company's stock, valued at $3,974,493.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by company insiders.

Pebblebrook Hotel Trust Stock Down 0.7 %

Shares of Pebblebrook Hotel Trust stock traded down $0.11 during midday trading on Friday, hitting $15.93. The company's stock had a trading volume of 2,123,624 shares, compared to its average volume of 1,506,872. The firm has a market capitalization of $1.92 billion, a P/E ratio of -16.42, a PEG ratio of 0.73 and a beta of 1.86. The stock has a 50-day simple moving average of $15.79 and a 200-day simple moving average of $14.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.81. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.06. Pebblebrook Hotel Trust had a negative return on equity of 2.65% and a negative net margin of 5.49%. The firm had revenue of $334.10 million for the quarter, compared to the consensus estimate of $325.42 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The firm's revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.25%. Pebblebrook Hotel Trust's dividend payout ratio is -4.12%.

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.