Sumitomo Mitsui Trust Group Inc. Sells 2,407 Shares of Pebblebrook Hotel Trust $PEB

Sumitomo Mitsui Trust Group Inc. decreased its position in Pebblebrook Hotel Trust (NYSE:PEB) by 1.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 126,470 shares of the real estate investment trust’s stock after selling 2,407 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Pebblebrook Hotel Trust were worth $1,263,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEB. Woodline Partners LP bought a new stake in shares of Pebblebrook Hotel Trust in the 1st quarter worth $30,155,000. Kettle Hill Capital Management LLC bought a new stake in shares of Pebblebrook Hotel Trust in the 1st quarter worth $2,960,000. Allianz Asset Management GmbH grew its stake in shares of Pebblebrook Hotel Trust by 378.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 339,232 shares of the real estate investment trust’s stock worth $3,389,000 after acquiring an additional 268,261 shares in the last quarter. Anson Funds Management LP bought a new stake in shares of Pebblebrook Hotel Trust in the 1st quarter worth $2,532,000. Finally, Victory Capital Management Inc. grew its stake in shares of Pebblebrook Hotel Trust by 982.6% in the 1st quarter. Victory Capital Management Inc. now owns 274,929 shares of the real estate investment trust’s stock worth $2,785,000 after acquiring an additional 249,534 shares in the last quarter.

Analyst Ratings Changes

Several analysts have recently issued reports on PEB shares. Morgan Stanley set a $9.00 target price on shares of Pebblebrook Hotel Trust in a research note on Wednesday, October 22nd. Robert W. Baird boosted their price target on shares of Pebblebrook Hotel Trust from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, September 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of Pebblebrook Hotel Trust in a report on Wednesday, October 8th. Stifel Nicolaus set a $14.00 price target on shares of Pebblebrook Hotel Trust in a report on Wednesday, September 17th. Finally, Zacks Research raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Pebblebrook Hotel Trust presently has an average rating of “Hold” and an average target price of $12.10.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE:PEB opened at $10.69 on Friday. The company’s 50-day moving average is $11.17 and its 200 day moving average is $10.22. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $1.27 billion, a P/E ratio of -18.44 and a beta of 1.85. Pebblebrook Hotel Trust has a fifty-two week low of $7.41 and a fifty-two week high of $15.12.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. The company had revenue of $407.54 million for the quarter, compared to the consensus estimate of $398.77 million. Pebblebrook Hotel Trust had a negative net margin of 2.20% and a negative return on equity of 1.17%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.4%. Pebblebrook Hotel Trust’s dividend payout ratio is -6.90%.

Pebblebrook Hotel Trust Profile

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.