Jennison Associates LLC trimmed its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,373,209 shares of the real estate investment trust’s stock after selling 14,814 shares during the quarter. Jennison Associates LLC owned about 1.99% of Pebblebrook Hotel Trust worth $49,628,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of PEB. First Mercantile Trust Co. grew its holdings in Pebblebrook Hotel Trust by 1.7% in the 2nd quarter. First Mercantile Trust Co. now owns 3,680 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 60 shares in the last quarter. SG Americas Securities LLC grew its holdings 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 buying an additional 249 shares in the last quarter. GAM Holding AG grew its holdings in Pebblebrook Hotel Trust by 2.3% in the 2nd quarter. GAM Holding AG now owns 5,892 shares of the real estate investment trust’s stock worth $190,000 after buying an additional 134 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Pebblebrook Hotel Trust by 8.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,410 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 510 shares in the last quarter. Finally, BB&T Corp bought a new position in Pebblebrook Hotel Trust in the 3rd quarter worth approximately $203,000.
A number of brokerages have issued reports on PEB. Boenning Scattergood reaffirmed a “hold” rating on shares of Pebblebrook Hotel Trust in a research note on Wednesday, October 25th. BidaskClub lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Robert W. Baird set a $35.00 price target on Pebblebrook Hotel Trust and gave the company a “hold” rating in a research note on Wednesday, October 25th. Goldman Sachs Group, Inc. (The) lowered Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and decreased their price target for the company from $27.00 to $26.00 in a research note on Wednesday, August 2nd. Finally, BTIG Research raised Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Friday, September 22nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $35.94.
Shares of Pebblebrook Hotel Trust (PEB) opened at $36.52 on Wednesday. Pebblebrook Hotel Trust has a 52-week low of $26.21 and a 52-week high of $37.63. The company has a market capitalization of $2,494.59, a price-to-earnings ratio of 13.60, a PEG ratio of 1.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.31 and a current ratio of 0.31.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Monday, October 23rd. The real estate investment trust reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.49. Pebblebrook Hotel Trust had a return on equity of 6.63% and a net margin of 12.98%. The company had revenue of $201.80 million during the quarter, compared to the consensus estimate of $198.11 million. During the same quarter in the prior year, the firm earned ($0.61) EPS. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. sell-side analysts forecast that Pebblebrook Hotel Trust will post 2.51 earnings per share for the current fiscal year.
Pebblebrook Hotel Trust announced that its Board of Directors has approved a share repurchase plan on Thursday, July 27th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 4.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.16%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 117.83%.
Pebblebrook Hotel Trust Profile
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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