California State Teachers Retirement System Boosts Stock Position in Pebblebrook Hotel Trust $PEB

California State Teachers Retirement System grew its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 34.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 149,266 shares of the real estate investment trust’s stock after acquiring an additional 38,289 shares during the period. California State Teachers Retirement System’s holdings in Pebblebrook Hotel Trust were worth $1,885,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. M&T Bank Corp purchased a new position in Pebblebrook Hotel Trust during the fourth quarter worth approximately $4,411,000. Voss Capital LP purchased a new stake in Pebblebrook Hotel Trust in the 4th quarter valued at $4,897,000. Arrowstreet Capital Limited Partnership grew its holdings in Pebblebrook Hotel Trust by 51.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,154,627 shares of the real estate investment trust’s stock valued at $27,213,000 after buying an additional 736,078 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Pebblebrook Hotel Trust by 14.1% in the 4th quarter. Legal & General Group Plc now owns 2,566,267 shares of the real estate investment trust’s stock worth $29,050,000 after acquiring an additional 317,573 shares during the last quarter. Finally, OP Asset Management Ltd acquired a new stake in shares of Pebblebrook Hotel Trust in the 1st quarter worth $645,000.

Pebblebrook Hotel Trust Price Performance

NYSE:PEB opened at $18.04 on Thursday. Pebblebrook Hotel Trust has a 52 week low of $9.76 and a 52 week high of $19.93. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $2.04 billion, a P/E ratio of -26.14, a P/E/G ratio of 1.22 and a beta of 1.40. The stock’s fifty day moving average is $18.57 and its two-hundred day moving average is $15.12.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -5.80%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PEB shares. Raymond James Financial reissued an “outperform” rating and set a $18.00 price target on shares of Pebblebrook Hotel Trust in a research report on Monday, June 8th. Stifel Nicolaus raised their price objective on shares of Pebblebrook Hotel Trust from $20.25 to $21.25 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Barclays raised their price objective on shares of Pebblebrook Hotel Trust from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald lifted their target price on shares of Pebblebrook Hotel Trust from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company boosted their target price on shares of Pebblebrook Hotel Trust from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.44.

Pebblebrook Hotel Trust Profile

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.