State of New Jersey Common Pension Fund D Raises Stake in Pebblebrook Hotel Trust (NYSE:PEB)

State of New Jersey Common Pension Fund D increased its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 317,254 shares of the real estate investment trust’s stock after buying an additional 18,467 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Pebblebrook Hotel Trust were worth $4,299,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PEB. Covestor Ltd grew its position in shares of Pebblebrook Hotel Trust by 80.1% during the 3rd quarter. Covestor Ltd now owns 4,471 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 1,989 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Pebblebrook Hotel Trust by 35.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,677 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 1,212 shares during the last quarter. FMR LLC grew its holdings in Pebblebrook Hotel Trust by 10.8% during the third quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 884 shares during the period. FORA Capital LLC purchased a new stake in Pebblebrook Hotel Trust in the third quarter worth $133,000. Finally, Metis Global Partners LLC bought a new stake in shares of Pebblebrook Hotel Trust in the third quarter valued at $164,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wedbush downgraded Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price target for the company. in a research note on Thursday, January 2nd. Robert W. Baird cut their target price on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and lifted their target price for the stock from $14.75 to $15.00 in a research note on Friday, November 22nd. Compass Point upgraded shares of Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Thursday, November 21st. Finally, Wells Fargo & Company cut their price objective on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.17.

Pebblebrook Hotel Trust Price Performance

PEB stock opened at $12.54 on Thursday. The firm has a 50 day moving average of $13.35 and a 200-day moving average of $13.13. The firm has a market capitalization of $1.50 billion, a P/E ratio of -43.23, a price-to-earnings-growth ratio of 0.58 and a beta of 1.85. Pebblebrook Hotel Trust has a 12 month low of $11.65 and a 12 month high of $16.65. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.01 dividend. 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 payout ratio is -13.79%.

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.