Allianz Asset Management GmbH Makes New Investment in Pebblebrook Hotel Trust (NYSE:PEB)

Key Points

• Allianz Asset Management GmbH made a new investment in Pebblebrook Hotel Trust, acquiring 70,971 shares valued at approximately $719,000.
• Pebblebrook Hotel Trust recently reported $0.65 EPS for the quarter, exceeding analyst expectations, with a 2.6% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.01 per share with a current dividend yield of 0.4%.

Allianz Asset Management GmbH bought a new stake in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 70,971 shares of the real estate investment trust's stock, valued at approximately $719,000. Allianz Asset Management GmbH owned approximately 0.06% of Pebblebrook Hotel Trust at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. T. Rowe Price Investment Management Inc. increased its position in Pebblebrook Hotel Trust by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,713,156 shares of the real estate investment trust's stock valued at $90,964,000 after buying an additional 525,991 shares in the last quarter. Earnest Partners LLC increased its position in shares of Pebblebrook Hotel Trust by 0.3% in the fourth quarter. Earnest Partners LLC now owns 4,936,306 shares of the real estate investment trust's stock valued at $66,887,000 after acquiring an additional 13,479 shares during the period. Alyeska Investment Group L.P. lifted its holdings in Pebblebrook Hotel Trust by 43.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,167,770 shares of the real estate investment trust's stock worth $56,473,000 after buying an additional 1,260,077 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Pebblebrook Hotel Trust by 19.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,956,436 shares of the real estate investment trust's stock worth $40,061,000 after purchasing an additional 481,076 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in shares of Pebblebrook Hotel Trust by 82.3% in the 4th quarter. Nuveen Asset Management LLC now owns 2,345,333 shares of the real estate investment trust's stock valued at $31,779,000 after purchasing an additional 1,058,664 shares during the period.

Pebblebrook Hotel Trust Trading Down 0.3%

Shares of NYSE:PEB traded down $0.03 during trading on Tuesday, reaching $9.88. 740,472 shares of the company were exchanged, compared to its average volume of 2,293,886. Pebblebrook Hotel Trust has a 12-month low of $7.41 and a 12-month high of $15.12. The firm has a market capitalization of $1.17 billion, a PE ratio of -17.03 and a beta of 1.85. The business's fifty day simple moving average is $9.99 and its 200-day simple moving average is $10.46. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.31 and a quick ratio of 1.31.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.06. The business had revenue of $407.54 million for the quarter, compared to the consensus estimate of $398.77 million. Pebblebrook Hotel Trust had a negative return on equity of 1.17% and a negative net margin of 2.20%. The business's revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.69 EPS. On average, research analysts anticipate that Pebblebrook Hotel Trust will post 1.5 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 30th. Pebblebrook Hotel Trust's dividend payout ratio is currently -6.90%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PEB. Evercore ISI boosted their price objective on shares of Pebblebrook Hotel Trust from $11.00 to $12.00 and gave the stock an "in-line" rating in a research note on Monday, July 28th. Wells Fargo & Company restated a "negative" rating on shares of Pebblebrook Hotel Trust in a research note on Tuesday, July 1st. Stifel Nicolaus set a $13.00 target price on shares of Pebblebrook Hotel Trust and gave the company a "buy" rating in a report on Wednesday, July 30th. Wedbush set a $9.00 price target on shares of Pebblebrook Hotel Trust and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $10.00 target price on shares of Pebblebrook Hotel Trust in a report on Tuesday, July 15th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $11.78.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust NYSE: PEB is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.