Pebblebrook Hotel Trust $PEB Stock Purchased by Penn Capital Management Company LLC

Penn Capital Management Company LLC raised its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB – Free Report) by 97.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 120,487 shares of the real estate investment trust’s stock after purchasing an additional 59,576 shares during the quarter. Penn Capital Management Company LLC’s holdings in Pebblebrook Hotel Trust were worth $2,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEB. Legal & General Group Plc bought a new stake in shares of Pebblebrook Hotel Trust during the 2nd quarter worth $36,905,000. Arrowstreet Capital Limited Partnership raised its holdings in Pebblebrook Hotel Trust by 51.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,154,627 shares of the real estate investment trust’s stock worth $27,213,000 after acquiring an additional 736,078 shares during the period. Bank of New York Mellon Corp bought a new position in Pebblebrook Hotel Trust in the 2nd quarter worth $18,729,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Pebblebrook Hotel Trust by 5.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 788,621 shares of the real estate investment trust’s stock worth $15,307,000 after acquiring an additional 41,249 shares during the last quarter. Finally, Bamco Inc. NY acquired a new position in Pebblebrook Hotel Trust during the 2nd quarter worth $12,115,000.

Wall Street Analysts Forecast Growth

PEB has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 20th. LADENBURG THALM/SH SH lifted their price objective on Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Wall Street Zen lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Raymond James Financial boosted their price objective on Pebblebrook Hotel Trust from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, September 28th. Finally, Morgan Stanley increased their target price on Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Pebblebrook Hotel Trust currently has an average rating of “Hold” and a consensus price target of $18.83.

View Our Latest Research Report on PEB

Pebblebrook Hotel Trust Trading Up 3.0%

Shares of Pebblebrook Hotel Trust stock opened at $21.75 on Tuesday. The company’s fifty day simple moving average is $19.36 and its 200-day simple moving average is $16.35. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.05 and a beta of 1.45. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.86. Pebblebrook Hotel Trust has a 1 year low of $10.46 and a 1 year high of $22.40.

Pebblebrook Hotel Trust (NYSE:PEB – Get Free Report) last announced its earnings results on Thursday, October 29th. The real estate investment trust reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.59). The company had revenue of $402.75 million for the quarter, compared to the consensus estimate of $393.55 million. Pebblebrook Hotel Trust had a negative return on equity of 2.73% and a negative net margin of 4.55%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. As a group, sell-side analysts expect that Pebblebrook Hotel Trust will post 1.76 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Pebblebrook Hotel Trust’s payout ratio is presently -4.55%.

Pebblebrook Hotel Trust Profile

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Want to see what other hedge funds are holding PEB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pebblebrook Hotel Trust (NYSE:PEB – Free Report).

Institutional Ownership by Quarter for Pebblebrook Hotel Trust (NYSE:PEB)

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