State of New Jersey Common Pension Fund D Acquires 9,904 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

State of New Jersey Common Pension Fund D boosted its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 298,787 shares of the real estate investment trust’s stock after acquiring an additional 9,904 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Pebblebrook Hotel Trust were worth $3,953,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its position in shares of Pebblebrook Hotel Trust by 80.1% during the third quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 1,989 shares in the last quarter. Quarry LP raised its position in Pebblebrook Hotel Trust by 2,376.9% in the 2nd quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 4,326 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Pebblebrook Hotel Trust by 35.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 1,212 shares in the last quarter. Blue Trust Inc. boosted its position in Pebblebrook Hotel Trust by 707.8% in the 2nd quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 9,740 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Pebblebrook Hotel Trust in the 2nd quarter valued at $167,000.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE:PEB opened at $12.74 on Wednesday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -43.93, a P/E/G ratio of 0.61 and a beta of 1.85. The firm’s 50 day simple moving average is $12.87 and its 200 day simple moving average is $13.40. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.71. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -13.79%.

Analysts Set New Price Targets

PEB has been the topic of several research reports. Robert W. Baird cut their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lowered their price target on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Truist Financial cut their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, October 28th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.30.

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.