Donald Smith & CO. Inc. purchased a new stake in shares of Pebblebrook Hotel Trust (NYSE:PEB – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 476,163 shares of the real estate investment trust’s stock, valued at approximately $9,242,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Pebblebrook Hotel Trust in the first quarter valued at $34,000. Quadrant Capital Group LLC raised its position in shares of Pebblebrook Hotel Trust by 32.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,220 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 796 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Pebblebrook Hotel Trust during the 4th quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Pebblebrook Hotel Trust by 33.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,465 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 865 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in shares of Pebblebrook Hotel Trust by 188.0% during the 4th quarter. Hantz Financial Services Inc. now owns 5,049 shares of the real estate investment trust’s stock worth $57,000 after buying an additional 3,296 shares during the period.
Pebblebrook Hotel Trust Trading Down 0.6%
Shares of NYSE:PEB opened at $18.44 on Friday. The business’s 50 day simple moving average is $18.72 and its 200 day simple moving average is $15.43. Pebblebrook Hotel Trust has a 1 year low of $9.99 and a 1 year high of $19.93. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $2.08 billion, a P/E ratio of -26.72, a P/E/G ratio of 1.27 and a beta of 1.40.
Pebblebrook Hotel Trust Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.01 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -5.80%.
Wall Street Analyst Weigh In
PEB has been the topic of a number of research reports. Citigroup upped their price target on shares of Pebblebrook Hotel Trust from $15.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. LADENBURG THALM/SH SH raised their price objective on shares of Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Stifel Nicolaus raised their price objective on shares of Pebblebrook Hotel Trust from $20.25 to $21.25 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Zacks Research upgraded Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, June 15th. Finally, Wells Fargo & Company upped their target price on Pebblebrook Hotel Trust from $16.00 to $19.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Pebblebrook Hotel Trust presently has an average rating of “Hold” and a consensus price target of $17.44.
View Our Latest Analysis on Pebblebrook Hotel Trust
Pebblebrook Hotel Trust Company Profile
Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.
PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.
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