T. Rowe Price takes 5.4% passive stake in Pebblebrook Hotel Trust (PEB)

Rhea-AI Filing Summary

T. Rowe Price Associates, Inc. has reported beneficial ownership of 6,180,800 shares of Pebblebrook Hotel Trust, representing 5.4% of the REIT’s outstanding class as of 12/31/2025. The firm reports sole voting power over 6,167,541 shares and sole dispositive power over 6,180,800 shares, with no shared voting or dispositive power.

T. Rowe Price states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Pebblebrook Hotel Trust. The filer also expressly denies being the beneficial owner of the securities referenced.

Insights

Institutional Ownership Analyst

T. Rowe Price reports a 5.4% passive stake in Pebblebrook Hotel Trust.

T. Rowe Price Associates, Inc. reports beneficial ownership of 6,180,800 Pebblebrook Hotel Trust shares, or 5.4% of the class as of 12/31/2025. It has sole voting power over 6,167,541 shares and sole dispositive power over the full 6,180,800 shares.

The position is reported on a Schedule 13G, which is used for investors that characterize themselves as passive. The certification states the holdings are in the ordinary course of business and not for the purpose of changing or influencing control of Pebblebrook Hotel Trust.

The filer also affirms that this report should not be construed as an admission that it is the beneficial owner of these securities. Future ownership updates, if any, would typically appear in subsequent ownership reports rather than through corporate actions by Pebblebrook itself.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

PEBBLEBROOK HOTEL TRUST

(Name of Issuer)

REIT

(Title of Class of Securities)

70509V100

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 70509V100

1

Names of Reporting Persons

T. Rowe Price Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,167,541.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,180,800.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,180,800.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PEBBLEBROOK HOTEL TRUST
(b)	Address of issuer's principal executive offices: 4747 BETHESDA AVENUE, SUITE 1100, BETHESDA, MD, 20814
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: REIT
(e)	CUSIP No.: 70509V100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 6180800
(b)	Percent of class: 5.4 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 6167541
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 6180800
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	02/17/2026

FAQ

What stake does T. Rowe Price hold in Pebblebrook Hotel Trust (PEB)?

T. Rowe Price Associates, Inc. reports beneficial ownership of 6,180,800 Pebblebrook Hotel Trust shares, representing 5.4% of the REIT’s outstanding class as of December 31, 2025. This level of ownership requires public disclosure on a Schedule 13G filing.

How much voting power does T. Rowe Price report in Pebblebrook Hotel Trust (PEB)?

T. Rowe Price reports sole voting power over 6,167,541 shares of Pebblebrook Hotel Trust and no shared voting power. It also reports sole dispositive power over 6,180,800 shares, meaning it alone decides how those shares are voted and whether they are sold.

Is T. Rowe Price’s Pebblebrook Hotel Trust (PEB) position passive or activist?

The position is described as passive. T. Rowe Price certifies the Pebblebrook Hotel Trust securities were acquired and are held in the ordinary course of business and not for changing or influencing control, consistent with a Schedule 13G rather than an activist Schedule 13D filing.

Does T. Rowe Price claim full beneficial ownership of its PEB shares?

T. Rowe Price expressly denies beneficial ownership of the Pebblebrook Hotel Trust securities, even though it reports them for Schedule 13G purposes. The firm states that the filing should not be construed as an admission that it is the beneficial owner of the reported shares.

When was T. Rowe Price’s 5.4% Pebblebrook Hotel Trust (PEB) stake measured?

The 5.4% beneficial ownership of Pebblebrook Hotel Trust was measured as of December 31, 2025, which is the event date requiring the Schedule 13G filing. Ownership levels at other times would need to be confirmed through additional ownership reports.