Tower Research Capital LLC TRC increased its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 537.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,665 shares of the real estate investment trust’s stock after buying an additional 14,051 shares during the period. Tower Research Capital LLC TRC’s holdings in Pebblebrook Hotel Trust were worth $470,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in PEB. JPMorgan Chase & Co. increased its stake in shares of Pebblebrook Hotel Trust by 89.0% during the first quarter. JPMorgan Chase & Co. now owns 4,255,033 shares of the real estate investment trust’s stock worth $132,161,000 after buying an additional 2,004,224 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Pebblebrook Hotel Trust by 109.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,405,757 shares of the real estate investment trust’s stock worth $68,107,000 after buying an additional 1,257,345 shares during the period. Geode Capital Management LLC increased its stake in shares of Pebblebrook Hotel Trust by 97.6% during the fourth quarter. Geode Capital Management LLC now owns 1,770,219 shares of the real estate investment trust’s stock worth $50,114,000 after buying an additional 874,469 shares during the period. Wells Fargo & Company MN increased its stake in shares of Pebblebrook Hotel Trust by 15.6% during the second quarter. Wells Fargo & Company MN now owns 1,742,699 shares of the real estate investment trust’s stock worth $49,109,000 after buying an additional 235,388 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of Pebblebrook Hotel Trust by 3.1% during the second quarter. Daiwa Securities Group Inc. now owns 6,421,531 shares of the real estate investment trust’s stock worth $180,959,000 after buying an additional 195,114 shares during the period.
A number of equities analysts recently issued reports on PEB shares. Capital One Financial started coverage on Pebblebrook Hotel Trust in a report on Tuesday, June 25th. They issued an “overweight” rating and a $35.00 price target for the company. Bank of America downgraded Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and lowered their price target for the company from $33.00 to $29.00 in a report on Wednesday, July 17th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Pebblebrook Hotel Trust in a report on Tuesday, July 23rd. BTIG Research downgraded Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating in a report on Thursday, August 15th. Finally, Zacks Investment Research raised Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $34.91.
Shares of Pebblebrook Hotel Trust stock traded down $0.32 during trading hours on Thursday, hitting $27.88. 36,495 shares of the company were exchanged, compared to its average volume of 843,730. Pebblebrook Hotel Trust has a 1 year low of $25.64 and a 1 year high of $37.09. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average of $27.19 and a 200-day moving average of $29.33. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 2.15 and a beta of 1.34.
Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The business had revenue of $442.08 million during the quarter, compared to analysts’ expectations of $435.37 million. Pebblebrook Hotel Trust had a negative return on equity of 0.10% and a negative net margin of 0.25%. The company’s quarterly revenue was up 114.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, research analysts anticipate that Pebblebrook Hotel Trust will post 2.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 5.45%. The ex-dividend date is Friday, September 27th. Pebblebrook Hotel Trust’s payout ratio is 62.04%.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a publicly traded real estate investment trust (REIT) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns 61 hotels, totaling approximately 14,600 guest rooms, located in 10 states and the District of Columbia, including: Del Mar, California; Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Santa Cruz, California; Washington, DC; Coral Gables, Florida; Key West, Florida; Naples, Florida; Buckhead, Georgia; Chicago, Illinois; Boston, Massachusetts; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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