Phocas Financial Corp. Sells 148,895 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Phocas Financial Corp. trimmed its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 85.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,252 shares of the real estate investment trust’s stock after selling 148,895 shares during the period. Phocas Financial Corp.’s holdings in Pebblebrook Hotel Trust were worth $342,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Pebblebrook Hotel Trust by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust’s stock worth $40,272,000 after buying an additional 28,871 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 130,265 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in Pebblebrook Hotel Trust by 4.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 950,475 shares of the real estate investment trust’s stock worth $12,575,000 after buying an additional 36,270 shares in the last quarter. Nordea Investment Management AB raised its stake in Pebblebrook Hotel Trust by 90.2% in the fourth quarter. Nordea Investment Management AB now owns 746,763 shares of the real estate investment trust’s stock worth $10,193,000 after buying an additional 354,116 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Pebblebrook Hotel Trust by 6.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 317,254 shares of the real estate investment trust’s stock worth $4,299,000 after buying an additional 18,467 shares in the last quarter.

Pebblebrook Hotel Trust Trading Up 2.1 %

NYSE:PEB opened at $11.77 on Thursday. The company’s 50 day moving average price is $13.11 and its 200-day moving average price is $13.11. Pebblebrook Hotel Trust has a 52 week low of $11.47 and a 52 week high of $16.61. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -40.58, a PEG ratio of 0.60 and a beta of 1.85.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Pebblebrook Hotel Trust’s payout ratio is -13.79%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PEB. StockNews.com raised shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Tuesday. 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. Compass Point upgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday, November 21st. Truist Financial cut 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 report on Tuesday, February 4th. Finally, Wedbush cut shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price objective on the stock. in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pebblebrook Hotel Trust has a consensus rating of “Hold” and a consensus price target of $14.17.

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.