Pebblebrook Hotel Trust (PEB) Declares $0.01 Dividend

Pebblebrook Hotel Trust said on March 15, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.04 annualized). Previously, the company paid $0.01 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 17, 2023.

At the current share price of $13.60 / share, the stock's dividend yield is 0.29%. Looking back five years and taking a sample every week, the average dividend yield has been 2.17%, the lowest has been 0.16%, and the highest has been 10.05%. The standard deviation of yields is 2.42 (n=237).

The current dividend yield is 0.77 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is -0.06. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 27.50% Upside

As of March 17, 2023, the average one-year price target for Pebblebrook Hotel Trust is $17.34. The forecasts range from a low of $12.12 to a high of $29.40. The average price target represents an increase of 27.50% from its latest reported closing price of $13.60.

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The projected annual revenue for Pebblebrook Hotel Trust is $1,529MM, an increase of 9.85%. The projected annual non-GAAP EPS is $0.13.

What is the Fund Sentiment?

There are 608 funds or institutions reporting positions in Pebblebrook Hotel Trust. This is a decrease of 21 owner(s) or 3.34% in the last quarter. Average portfolio weight of all funds dedicated to PEB is 0.14%, a decrease of 12.55%. Total shares owned by institutions increased in the last three months by 3.03% to 174,532K shares. The put/call ratio of PEB is 1.07, indicating a bearish outlook.

What are Large Shareholders Doing?

Wellington Management Group Llp holds 8,320K shares representing 6.60% ownership of the company. In it's prior filing, the firm reported owning 7,573K shares, representing an increase of 8.98%. The firm decreased its portfolio allocation in PEB by 4.55% over the last quarter.

Earnest Partners holds 5,997K shares representing 4.76% ownership of the company. In it's prior filing, the firm reported owning 6,195K shares, representing a decrease of 3.29%. The firm decreased its portfolio allocation in PEB by 18.48% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 5,959K shares representing 4.73% ownership of the company. In it's prior filing, the firm reported owning 6,031K shares, representing a decrease of 1.22%. The firm decreased its portfolio allocation in PEB by 2.44% over the last quarter.

Principal Financial Group holds 5,140K shares representing 4.08% ownership of the company. In it's prior filing, the firm reported owning 5,324K shares, representing a decrease of 3.57%. The firm decreased its portfolio allocation in PEB by 15.58% over the last quarter.

T. Rowe Price Investment Management holds 5,029K shares representing 3.99% ownership of the company. In it's prior filing, the firm reported owning 4,283K shares, representing an increase of 14.83%. The firm increased its portfolio allocation in PEB by 4.06% over the last quarter.

Pebblebrook Hotel Trust Background Information
(This description is provided by the company.)

Pebblebrook Hotel Trust is a publicly traded real estate investment trust organized in December 2009 to opportunistically acquire and invest in upper upscale, full service hotel and resort properties located in or near urban markets in major United States gateway cities.

This story originally appeared on Fintel.