New York State Common Retirement Fund Sells 2,531,623 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

New York State Common Retirement Fund decreased its position in shares of Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 75.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 822,756 shares of the real estate investment trust's stock after selling 2,531,623 shares during the quarter. New York State Common Retirement Fund owned about 0.68% of Pebblebrook Hotel Trust worth $13,148,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC raised its position in shares of Pebblebrook Hotel Trust by 49.8% during the third quarter. William Blair Investment Management LLC now owns 3,656,930 shares of the real estate investment trust's stock worth $49,698,000 after purchasing an additional 1,215,683 shares during the period. Envestnet Asset Management Inc. raised its holdings in Pebblebrook Hotel Trust by 81.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 582,908 shares of the real estate investment trust's stock worth $7,922,000 after buying an additional 262,200 shares during the period. Phocas Financial Corp. lifted its stake in Pebblebrook Hotel Trust by 437.3% in the fourth quarter. Phocas Financial Corp. now owns 220,570 shares of the real estate investment trust's stock valued at $3,525,000 after buying an additional 179,518 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Pebblebrook Hotel Trust by 1.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 9,084,090 shares of the real estate investment trust's stock valued at $123,453,000 after buying an additional 140,799 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Pebblebrook Hotel Trust by 1.6% in the third quarter. Principal Financial Group Inc. now owns 7,009,009 shares of the real estate investment trust's stock valued at $95,252,000 after buying an additional 112,616 shares during the period.

Insider Buying and Selling at Pebblebrook Hotel Trust

In related news, insider Thomas Charles Fisher sold 11,441 shares of the firm's stock in a transaction dated Monday, February 26th. The shares were 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 in the company, valued at approximately $3,974,493.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.60% of the company's stock.

Pebblebrook Hotel Trust Stock Down 3.1 %

Shares of NYSE PEB traded down $0.47 during mid-day trading on Tuesday, hitting $14.53. The company had a trading volume of 1,657,074 shares, compared to its average volume of 1,573,952. Pebblebrook Hotel Trust has a one year low of $11.39 and a one year high of $16.65. The company has a market capitalization of $1.75 billion, a PE ratio of -14.71, a price-to-earnings-growth ratio of 0.68 and a beta of 1.86. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.78. The firm has a 50-day simple moving average of $15.59 and a two-hundred day simple moving average of $14.72.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.48). The company had revenue of $314.10 million during the quarter, compared to the consensus estimate of $304.34 million. Pebblebrook Hotel Trust had a negative net margin of 5.84% and a negative return on equity of 2.88%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, equities analysts expect that Pebblebrook Hotel Trust will post 1.58 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, March 27th. Pebblebrook Hotel Trust's dividend payout ratio (DPR) is currently -3.92%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PEB shares. Bank of America cut shares of Pebblebrook Hotel Trust from a "neutral" rating to an "underperform" rating and set a $13.50 price objective on the stock. in a research report on Monday, January 8th. Compass Point restated a "neutral" rating and issued a $17.00 price target on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Truist Financial increased their price objective on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a "hold" rating in a report on Thursday, January 18th. Finally, StockNews.com upgraded Pebblebrook Hotel Trust from a "sell" rating to a "hold" rating in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $14.69.

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.