1,254,004 Pebblebrook Hotel Trust $PEB Shares Acquired by Fisher Asset Management LLC

Key Points

• Fisher Asset Management increased its Pebblebrook Hotel Trust stake by 236.7% in the third quarter, acquiring 1,254,004 shares and ending the period with 1,783,865 shares worth about $33.5 million.
• Analyst opinions were mixed: MarketBeat reported a consensus Hold rating and an average price target of $19.17, despite upgrades from Zacks Research and other positive ratings.
• Pebblebrook reported quarterly revenue of $402.75 million, above estimates, but posted an EPS loss of $0.56 versus expectations for earnings of $0.03.

Fisher Asset Management LLC lifted its position in shares of Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 236.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,783,865 shares of the real estate investment trust's stock after acquiring an additional 1,254,004 shares during the quarter. Fisher Asset Management LLC owned 1.60% of Pebblebrook Hotel Trust worth $33,465,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PEB. Legal & General Group Plc acquired a new stake in Pebblebrook Hotel Trust in the second quarter valued at about $36,905,000. Arrowstreet Capital Limited Partnership increased its position in Pebblebrook Hotel Trust by 51.9% during 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 purchasing an additional 736,078 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $18,729,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 buying an additional 41,249 shares in the last quarter. Finally, Bamco Inc. NY purchased a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $12,115,000.

Analyst Upgrades and Downgrades

PEB has been the topic of a number of analyst reports. Zacks Research upgraded Pebblebrook Hotel Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 20th. Stifel Nicolaus set a $22.00 price objective on Pebblebrook Hotel Trust in a research report on Monday, October 19th. Weiss Ratings raised Pebblebrook Hotel Trust from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Evercore set a $21.00 target price on shares of Pebblebrook Hotel Trust in a research report on Monday, October 26th. Finally, Citigroup boosted their target price on shares of Pebblebrook Hotel Trust from $15.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $19.17.

Pebblebrook Hotel Trust Price Performance

Shares of PEB stock traded up $0.04 during midday trading on Friday, reaching $21.64. 1,508,758 shares of the company traded hands, compared to its average volume of 2,928,372. The firm's 50 day simple moving average is $19.68 and its two-hundred day simple moving average is $16.55. The firm has a market cap of $2.42 billion, a PE ratio of -24.60, a price-to-earnings-growth ratio of 0.93 and a beta of 1.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.38 and a quick ratio of 1.38. 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 released its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.59). Pebblebrook Hotel Trust had a negative return on equity of 2.73% and a negative net margin of 4.55%. The firm had revenue of $402.75 million during the quarter, compared to analyst estimates of $393.55 million. During the same quarter in the prior year, the company earned $0.51 EPS. The business's revenue was up 1.0% on a year-over-year basis. On average, equities research analysts expect that Pebblebrook Hotel Trust will post 1.76 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.2%. Pebblebrook Hotel Trust's dividend payout ratio is -4.55%.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust is a publicly traded real estate investment trust that owns and invests in upper-upscale hotels and resorts. Its properties are generally located in major U.S. urban markets and resort destinations. The company's hotels offer lodging and related services, which may include dining, meeting and event facilities, and other guest amenities. Pebblebrook typically works with hotel management companies to operate its properties rather than operating them under a single Pebblebrook-branded hotel chain.

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