Oppenheimer Asset Management Inc. Buys New Position in Pebblebrook Hotel Trust $PEB

Key Points

• Oppenheimer Asset Management acquired 125,439 shares of Pebblebrook Hotel Trust in the second quarter, worth approximately $2.44 million and representing about 0.11% of the REIT.
• Pebblebrook shares opened at $18.25, near their 52-week high of $19.93, while the company paid a quarterly dividend of $0.01 per share, equivalent to a 0.2% annual yield.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and an average price target of $17.44, below its reported trading price.

Oppenheimer Asset Management Inc. bought a new stake in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 125,439 shares of the real estate investment trust's stock, valued at approximately $2,435,000. Oppenheimer Asset Management Inc. owned about 0.11% of Pebblebrook Hotel Trust as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Pebblebrook Hotel Trust in the first quarter valued at approximately $34,000. Quadrant Capital Group LLC increased its position in Pebblebrook Hotel Trust by 32.8% during the fourth quarter. Quadrant Capital Group LLC now owns 3,220 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 796 shares during the period. Cullen Frost Bankers Inc. bought a new position in Pebblebrook Hotel Trust during the fourth quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Pebblebrook Hotel Trust by 33.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,465 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 865 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Pebblebrook Hotel Trust by 188.0% during the 4th quarter. Hantz Financial Services Inc. now owns 5,049 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 3,296 shares during the last quarter.

Pebblebrook Hotel Trust Trading Up 0.0%

Shares of Pebblebrook Hotel Trust stock opened at $18.25 on Monday. Pebblebrook Hotel Trust has a 52-week low of $9.88 and a 52-week high of $19.93. The firm has a market capitalization of $2.06 billion, a PE ratio of -26.46, a price-to-earnings-growth ratio of 1.25 and a beta of 1.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.34 and a quick ratio of 1.34. The company's fifty day moving average price is $18.63 and its two-hundred day moving average price is $15.21.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 30th. Pebblebrook Hotel Trust's payout ratio is -5.80%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup raised their price target 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. Morgan Stanley increased their target price on shares of Pebblebrook Hotel Trust from $12.00 to $13.00 and gave the company an "underweight" rating in a research note on Friday, July 17th. BMO Capital Markets reissued a "market perform" rating and set a $17.00 target price on shares of Pebblebrook Hotel Trust in a research report on Friday, June 12th. Zacks Research upgraded Pebblebrook Hotel Trust from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 15th. Finally, Cantor Fitzgerald upped their price target on Pebblebrook Hotel Trust from $15.00 to $19.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $17.44.

Pebblebrook Hotel Trust Profile

Pebblebrook Hotel Trust NYSE: PEB is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company's investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB's portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.

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