BNP Paribas Arbitrage SA lifted its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 12.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,310 shares of the real estate investment trust’s stock after buying an additional 3,348 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Pebblebrook Hotel Trust were worth $977,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in PEB. First Mercantile Trust Co. lifted its stake in shares of Pebblebrook Hotel Trust by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,680 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 60 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Pebblebrook Hotel Trust by 16.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 600 shares in the last quarter. SG Americas Securities LLC lifted its stake in Pebblebrook Hotel Trust by 6.0% in the 2nd quarter. SG Americas Securities LLC now owns 4,401 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 249 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Pebblebrook Hotel Trust in the 1st quarter worth approximately $180,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Pebblebrook Hotel Trust by 8.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,410 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 510 shares in the last quarter.
Several analysts have recently weighed in on the stock. ValuEngine upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Goldman Sachs Group, Inc. (The) lowered shares of Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and cut their price target for the stock from $27.00 to $26.00 in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Boenning Scattergood reissued a “hold” rating on shares of Pebblebrook Hotel Trust in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $31.92.
Pebblebrook Hotel Trust (PEB) opened at 34.19 on Friday. The firm has a 50-day moving average of $32.91 and a 200 day moving average of $31.27. Pebblebrook Hotel Trust has a one year low of $23.56 and a one year high of $34.93. The stock has a market capitalization of $2.36 billion, a PE ratio of 124.35 and a beta of 1.24.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. Pebblebrook Hotel Trust had a return on equity of 2.59% and a net margin of 5.09%. The business had revenue of $205.72 million for the quarter, compared to the consensus estimate of $199.30 million. During the same period last year, the business posted $0.81 EPS. The company’s revenue was down 3.1% on a year-over-year basis. On average, equities research analysts anticipate that Pebblebrook Hotel Trust will post $1.07 earnings per share for the current fiscal year.
Pebblebrook Hotel Trust announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 27th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 4.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.45%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 506.68%.
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About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.
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