Avantax Advisory Services Inc. Acquires 30,902 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Key Points

• Avantax Advisory Services Inc. increased its stake in Pebblebrook Hotel Trust by 81.4%, now owning 68,857 shares valued at approximately $698,000.
• Pebblebrook Hotel Trust reported earnings of $0.65 per share for the last quarter, surpassing analyst expectations of $0.59, with revenue reaching $407.54 million.
• Analysts have mixed ratings on Pebblebrook Hotel Trust, with a consensus rating of "Hold" and a price target averaging $11.78.

Avantax Advisory Services Inc. grew its stake in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 81.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,857 shares of the real estate investment trust's stock after buying an additional 30,902 shares during the period. Avantax Advisory Services Inc. owned approximately 0.06% of Pebblebrook Hotel Trust worth $698,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its position in shares of Pebblebrook Hotel Trust by 8.5% in the fourth 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 purchasing an additional 525,991 shares during the last quarter. Earnest Partners LLC grew its position in 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. increased its position in shares of Pebblebrook Hotel Trust by 43.3% during 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 purchasing an additional 1,260,077 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Pebblebrook Hotel Trust by 19.4% during the fourth 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 buying an additional 481,076 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in 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 last quarter.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB stock opened at $9.91 on Tuesday. The company has a fifty day moving average price of $9.97 and a two-hundred day moving average price of $10.49. Pebblebrook Hotel Trust has a one year low of $7.41 and a one year high of $15.12. The stock has a market cap of $1.17 billion, a P/E ratio of -17.08 and a beta of 1.85. 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 posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.06. The business had revenue of $407.54 million for the quarter, compared to analyst estimates 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 firm's revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. As a group, equities analysts predict that Pebblebrook Hotel Trust will post 1.5 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. Pebblebrook Hotel Trust's dividend payout ratio (DPR) is currently -6.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PEB. Wedbush set a $9.00 target price on shares of Pebblebrook Hotel Trust and gave the stock an "underperform" rating in a research note on Tuesday, May 6th. Truist Financial set a $9.00 target price on Pebblebrook Hotel Trust and gave the company a "hold" rating in a research note on Monday, June 2nd. Stifel Nicolaus set a $13.00 price objective on shares of Pebblebrook Hotel Trust and gave the company a "buy" rating in a research report on Wednesday, July 30th. Morgan Stanley reissued an "underweight" rating and set a $10.00 target price on shares of Pebblebrook Hotel Trust in a research note on Tuesday, July 15th. Finally, Evercore ISI lifted their price target on Pebblebrook Hotel Trust from $11.00 to $12.00 and gave the company an "in-line" rating in a research note on Monday, July 28th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Pebblebrook Hotel Trust currently has a consensus rating of "Hold" and a consensus price target of $11.78.

Pebblebrook Hotel Trust Profile

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.