Goldman Sachs Group Inc. decreased its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,761,169 shares of the real estate investment trust’s stock after selling 64,676 shares during the period. Goldman Sachs Group Inc. owned 8.36% of Pebblebrook Hotel Trust worth $214,142,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Stephens Inc. AR bought a new stake in Pebblebrook Hotel Trust in the third quarter worth about $208,000. Commonwealth Equity Services Inc bought a new stake in Pebblebrook Hotel Trust in the third quarter worth about $232,000. Jane Street Group LLC bought a new stake in Pebblebrook Hotel Trust in the third quarter worth about $234,000. Granite Springs Asset Management LLC bought a new stake in Pebblebrook Hotel Trust in the fourth quarter worth about $282,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Pebblebrook Hotel Trust in the third quarter worth about $292,000.
Several analysts have commented on PEB shares. Robert W. Baird set a $37.00 price objective on shares of Pebblebrook Hotel Trust and gave the stock a “hold” rating in a research report on Tuesday, February 27th. Barclays reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Friday, December 15th. Stifel Nicolaus reiterated a “hold” rating and issued a $36.50 target price on shares of Pebblebrook Hotel Trust in a research note on Sunday, December 3rd. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Pebblebrook Hotel Trust in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $36.61.
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About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.
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