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Pebblebrook Hotel Trust (NYSE:PEB) Shares Acquired by Envestnet Asset Management Inc.

Pebblebrook Hotel Trust logo with Finance background

Envestnet Asset Management Inc. raised its position in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 601,132 shares of the real estate investment trust's stock after acquiring an additional 63,915 shares during the quarter. Envestnet Asset Management Inc. owned 0.51% of Pebblebrook Hotel Trust worth $6,089,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Pebblebrook Hotel Trust by 2.7% during the first quarter. Principal Financial Group Inc. now owns 596,062 shares of the real estate investment trust's stock worth $6,038,000 after buying an additional 15,619 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Pebblebrook Hotel Trust during the 1st quarter worth $177,000. Illinois Municipal Retirement Fund grew its holdings in Pebblebrook Hotel Trust by 10.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 67,256 shares of the real estate investment trust's stock worth $681,000 after acquiring an additional 6,329 shares in the last quarter. Perfromance Wealth Partners LLC grew its holdings in Pebblebrook Hotel Trust by 17.8% during the 1st quarter. Perfromance Wealth Partners LLC now owns 50,756 shares of the real estate investment trust's stock worth $514,000 after acquiring an additional 7,674 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Pebblebrook Hotel Trust during the 1st quarter worth $510,000.

Wall Street Analyst Weigh In

PEB has been the subject of a number of research reports. Wells Fargo & Company reiterated a "negative" rating on shares of Pebblebrook Hotel Trust in a research note on Tuesday, July 1st. Morgan Stanley reiterated an "underweight" rating and issued a $10.00 target price on shares of Pebblebrook Hotel Trust in a research report on Tuesday, July 15th. Evercore ISI decreased their target price on Pebblebrook Hotel Trust from $15.00 to $11.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Stifel Nicolaus decreased their price objective on shares of Pebblebrook Hotel Trust from $16.50 to $13.25 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Wedbush set a $9.00 price objective on shares of Pebblebrook Hotel Trust and gave the stock an "underperform" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Pebblebrook Hotel Trust presently has a consensus rating of "Hold" and a consensus target price of $11.69.

Check Out Our Latest Research Report on PEB

Pebblebrook Hotel Trust Stock Performance

Shares of PEB traded up $0.04 during midday trading on Friday, hitting $10.58. 1,532,639 shares of the stock traded hands, compared to its average volume of 2,129,534. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.09 and a current ratio of 1.09. The business's 50 day moving average price is $9.88 and its two-hundred day moving average price is $10.62. The firm has a market capitalization of $1.26 billion, a PE ratio of -22.03 and a beta of 1.75. Pebblebrook Hotel Trust has a 1-year low of $7.41 and a 1-year high of $15.12.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $320.27 million during the quarter, compared to the consensus estimate of $311.74 million. Pebblebrook Hotel Trust had a negative return on equity of 0.32% and a negative net margin of 0.61%. The business's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. Equities research analysts predict that Pebblebrook Hotel Trust will post 1.5 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Monday, June 30th. Pebblebrook Hotel Trust's payout ratio is currently -8.33%.

About Pebblebrook Hotel Trust

(Free Report)

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.

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Institutional Ownership by Quarter for Pebblebrook Hotel Trust (NYSE:PEB)

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