State of New Jersey Common Pension Fund D Purchases 18,467 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

State of New Jersey Common Pension Fund D lifted its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 317,254 shares of the real estate investment trust’s stock after buying an additional 18,467 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.27% of Pebblebrook Hotel Trust worth $4,299,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB raised its position in shares of Pebblebrook Hotel Trust by 90.2% in the 4th quarter. Nordea Investment Management AB now owns 746,763 shares of the real estate investment trust’s stock worth $10,193,000 after acquiring an additional 354,116 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Pebblebrook Hotel Trust by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,418,159 shares of the real estate investment trust’s stock worth $31,992,000 after purchasing an additional 130,265 shares in the last quarter. Atom Investors LP acquired a new position in Pebblebrook Hotel Trust in the third quarter valued at approximately $1,363,000. GSA Capital Partners LLP boosted its holdings in shares of Pebblebrook Hotel Trust by 47.4% during the 3rd quarter. GSA Capital Partners LLP now owns 223,654 shares of the real estate investment trust’s stock worth $2,959,000 after buying an additional 71,920 shares in the last quarter. Finally, PEAK6 Investments LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the 3rd quarter worth approximately $884,000.

Pebblebrook Hotel Trust Price Performance

PEB opened at $12.54 on Thursday. Pebblebrook Hotel Trust has a 1 year low of $11.65 and a 1 year high of $16.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -43.23, a P/E/G ratio of 0.58 and a beta of 1.85. The firm’s fifty day moving average price is $13.35 and its two-hundred day moving average price is $13.13.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Tuesday, December 31st. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -13.79%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PEB. Truist Financial dropped their target price on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Robert W. Baird cut their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Compass Point upgraded Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, November 21st. Stifel Nicolaus raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their price target for the stock from $14.75 to $15.00 in a research note on Friday, November 22nd. Finally, Wedbush cut Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price objective for the company. in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Pebblebrook Hotel Trust presently has an average rating of “Hold” and a consensus target price of $14.17.

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.