Peregrine Capital Management LLC Cuts Stock Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Peregrine Capital Management LLC reduced its position in shares of Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 24.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 468,614 shares of the real estate investment trust's stock after selling 154,745 shares during the quarter. Peregrine Capital Management LLC owned about 0.39% of Pebblebrook Hotel Trust worth $7,488,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased 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 worth $104,000 after purchasing an additional 884 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Pebblebrook Hotel Trust by 76.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,525 shares of the real estate investment trust's stock valued at $105,000 after acquiring an additional 3,256 shares during the period. XTX Topco Ltd purchased a new position in shares of Pebblebrook Hotel Trust in the 1st quarter valued at $142,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Pebblebrook Hotel Trust in the 3rd quarter valued at $148,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Pebblebrook Hotel Trust by 11.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,653 shares of the real estate investment trust's stock valued at $156,000 after acquiring an additional 1,199 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEB. Truist Financial lifted their price target on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a "hold" rating in a report on Thursday, January 18th. Wells Fargo & Company lifted their price target on Pebblebrook Hotel Trust from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Friday, December 22nd. Bank of America downgraded Pebblebrook Hotel Trust from a "neutral" rating to an "underperform" rating and set a $13.50 price target on the stock. in a report on Monday, January 8th. Finally, Compass Point reissued a "neutral" rating and issued a $17.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.78.

Pebblebrook Hotel Trust Stock Down 3.5 %

Shares of Pebblebrook Hotel Trust stock traded down $0.55 during trading on Wednesday, reaching $15.45. The company's stock had a trading volume of 1,145,739 shares, compared to its average volume of 1,551,082. The company has a 50-day simple moving average of $15.74 and a two-hundred day simple moving average of $14.55. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.81. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -15.92, a P/E/G ratio of 0.72 and a beta of 1.86.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $334.10 million during the quarter, compared to analysts' expectations of $325.42 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The firm's revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts forecast that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.26%. Pebblebrook Hotel Trust's dividend payout ratio is currently -4.12%.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.62, for a total transaction of $178,708.42. Following the completion of the sale, the insider now owns 254,449 shares of the company's stock, valued at approximately $3,974,493.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

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.