Voya Investment Management LLC Sells 95,000,095 Shares of Pebblebrook Hotel Trust $PEB

Voya Investment Management LLC cut its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 99.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 212,264 shares of the real estate investment trust’s stock after selling 95,000,095 shares during the quarter. Voya Investment Management LLC’s holdings in Pebblebrook Hotel Trust were worth $2,418,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Woodline Partners LP bought a new stake in Pebblebrook Hotel Trust during the first quarter valued at about $30,155,000. Ameriprise Financial Inc. boosted its holdings in shares of Pebblebrook Hotel Trust by 41.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 936,280 shares of the real estate investment trust’s stock valued at $9,354,000 after buying an additional 274,569 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Pebblebrook Hotel Trust by 7.6% in the 2nd quarter. Nordea Investment Management AB now owns 802,145 shares of the real estate investment trust’s stock worth $8,025,000 after buying an additional 56,815 shares during the last quarter. Invesco Ltd. grew its position in shares of Pebblebrook Hotel Trust by 5.6% in the 2nd quarter. Invesco Ltd. now owns 716,248 shares of the real estate investment trust’s stock worth $7,155,000 after buying an additional 38,023 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Pebblebrook Hotel Trust by 15.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 692,901 shares of the real estate investment trust’s stock worth $6,922,000 after acquiring an additional 91,769 shares in the last quarter.

Pebblebrook Hotel Trust Price Performance

NYSE PEB opened at $11.48 on Friday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -9.64 and a beta of 1.53. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day moving average price is $11.07 and its 200 day moving average price is $10.76. Pebblebrook Hotel Trust has a 1 year low of $7.41 and a 1 year high of $14.21.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Wednesday, November 5th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $398.72 million for the quarter, compared to the consensus estimate of $396.80 million. Pebblebrook Hotel Trust had a negative return on equity of 4.02% and a negative net margin of 7.45%.The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. Pebblebrook Hotel Trust has set its FY 2025 guidance at 1.500-1.570 EPS and its Q4 2025 guidance at 0.180-0.260 EPS. As a group, equities research analysts forecast that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.01 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -3.36%.

Analyst Ratings Changes

Several brokerages have weighed in on PEB. Wells Fargo & Company raised their target price on shares of Pebblebrook Hotel Trust from $11.00 to $13.00 and gave the company an “equal weight” rating in a research note on Monday, December 1st. Compass Point cut Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $12.00 to $11.50 in a research report on Monday, November 10th. Robert W. Baird upped their target price on Pebblebrook Hotel Trust from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday, September 18th. Evercore ISI increased their price target on Pebblebrook Hotel Trust from $12.00 to $13.00 and gave the company an “in-line” rating in a research note on Thursday, September 18th. Finally, Zacks Research lowered Pebblebrook Hotel Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $11.90.

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.