Vestcor Inc Makes New Investment in Pebblebrook Hotel Trust (NYSE:PEB)

Vestcor Inc bought a new stake in Pebblebrook Hotel Trust (NYSE:PEB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 109,455 shares of the real estate investment trust’s stock, valued at approximately $1,483,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atria Investments Inc grew its stake in Pebblebrook Hotel Trust by 2.2% in the 3rd quarter. Atria Investments Inc now owns 40,897 shares of the real estate investment trust’s stock valued at $541,000 after purchasing an additional 889 shares during the period. Entropy Technologies LP boosted its holdings in shares of Pebblebrook Hotel Trust by 110.4% in the 3rd quarter. Entropy Technologies LP now owns 28,393 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 14,900 shares during the last quarter. Victory Capital Management Inc. grew its position in Pebblebrook Hotel Trust by 24.5% during the third quarter. Victory Capital Management Inc. now owns 100,169 shares of the real estate investment trust’s stock valued at $1,325,000 after buying an additional 19,725 shares during the period. Metis Global Partners LLC purchased a new stake in Pebblebrook Hotel Trust during the third quarter worth about $164,000. Finally, Quest Partners LLC bought a new stake in Pebblebrook Hotel Trust in the third quarter worth about $691,000.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB opened at $10.72 on Friday. Pebblebrook Hotel Trust has a 52-week low of $10.31 and a 52-week high of $16.19. The stock’s 50-day simple moving average is $12.63 and its 200 day simple moving average is $13.02. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -36.97, a price-to-earnings-growth ratio of 0.60 and a beta of 1.87.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -9.30%.

Wall Street Analyst Weigh In

PEB has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Raymond James set a $14.00 target price on Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research note on Thursday, February 27th. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Wedbush lowered Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price objective for the company. in a report on Thursday, January 2nd. Finally, Compass Point downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $17.00 to $15.00 in a report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.86.

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.