Adage Capital Partners GP L.L.C. Lowers Position in Pebblebrook Hotel Trust (NYSE:PEB)

Adage Capital Partners GP L.L.C. lowered its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 300,000 shares of the real estate investment trust’s stock after selling 50,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.25% of Pebblebrook Hotel Trust worth $4,065,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Centersquare Investment Management LLC raised its holdings in Pebblebrook Hotel Trust by 2,448.9% in the fourth quarter. Centersquare Investment Management LLC now owns 1,879,327 shares of the real estate investment trust’s stock valued at $25,465,000 after buying an additional 1,805,597 shares during the period. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of Pebblebrook Hotel Trust in the 4th quarter valued at $13,788,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Pebblebrook Hotel Trust by 82.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,399,856 shares of the real estate investment trust’s stock valued at $18,968,000 after acquiring an additional 633,881 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,713,156 shares of the real estate investment trust’s stock valued at $90,964,000 after acquiring an additional 525,991 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Pebblebrook Hotel Trust by 19.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,956,436 shares of the real estate investment trust’s stock worth $40,061,000 after purchasing an additional 481,076 shares during the period.

Analyst Ratings Changes

Several research firms have commented on PEB. Evercore ISI cut their price objective on Pebblebrook Hotel Trust from $15.00 to $11.00 and set an “in-line” rating on the stock in a research report on Monday. Wells Fargo & Company dropped their target price on Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Wedbush cut Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price target for the company. in a report on Thursday, January 2nd. Truist Financial dropped 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 research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.28.

Pebblebrook Hotel Trust Trading Down 0.9 %

NYSE:PEB opened at $9.03 on Wednesday. The company has a market cap of $1.07 billion, a PE ratio of -31.12, a P/E/G ratio of 0.60 and a beta of 1.69. The business’s 50 day moving average is $10.09 and its two-hundred day moving average is $12.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 52 week low of $7.41 and a 52 week high of $15.46.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, March 31st. Pebblebrook Hotel Trust’s dividend payout ratio is presently -9.30%.

Pebblebrook Hotel Trust Company 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.