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

State of New Jersey Common Pension Fund D boosted its position in Pebblebrook Hotel Trust (NYSE:PEB) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 298,787 shares of the real estate investment trust’s stock after buying an additional 9,904 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.25% of Pebblebrook Hotel Trust worth $3,953,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PEB. Covestor Ltd grew its position in shares of Pebblebrook Hotel Trust by 80.1% in the third quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 1,989 shares during the last quarter. Quarry LP increased 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 buying an additional 4,326 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Pebblebrook Hotel Trust by 35.0% in 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 during the period. Blue Trust Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 707.8% during the second quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 9,740 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of Pebblebrook Hotel Trust in the second quarter valued at approximately $167,000.

Pebblebrook Hotel Trust Trading Down 0.9 %

PEB stock opened at $12.74 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.52 billion, a P/E ratio of -43.93, a P/E/G ratio of 0.61 and a beta of 1.85. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65. The business’s 50 day moving average is $12.87 and its 200-day moving average is $13.40.

Pebblebrook Hotel Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

PEB has been the topic of a number of research reports. Robert W. Baird dropped their target price 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. Wells Fargo & Company cut their price objective 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. StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial reduced their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, October 28th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, Pebblebrook Hotel Trust has a consensus rating of “Hold” and a consensus target price of $14.30.

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.