Victory Capital Management Inc. raised its holdings in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 982.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,929 shares of the real estate investment trust's stock after purchasing an additional 249,534 shares during the period. Victory Capital Management Inc. owned 0.23% of Pebblebrook Hotel Trust worth $2,785,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the business. GF Fund Management CO. LTD. bought a new position in shares of Pebblebrook Hotel Trust in the fourth quarter valued at approximately $30,000. Quadrant Capital Group LLC lifted its position in Pebblebrook Hotel Trust by 100.2% during the fourth quarter. Quadrant Capital Group LLC now owns 2,644 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 1,323 shares during the last quarter. CWM LLC lifted its position in Pebblebrook Hotel Trust by 324.2% during the first quarter. CWM LLC now owns 3,071 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 2,347 shares during the last quarter. Sterling Capital Management LLC lifted its position in Pebblebrook Hotel Trust by 815.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,763 shares of the real estate investment trust's stock valued at $51,000 after purchasing an additional 3,352 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Pebblebrook Hotel Trust during the fourth quarter valued at approximately $99,000.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on PEB. Morgan Stanley restated an "underweight" rating and issued a $10.00 price objective on shares of Pebblebrook Hotel Trust in a report on Tuesday, July 15th. Truist Financial set a $9.00 target price on shares of Pebblebrook Hotel Trust and gave the stock a "hold" rating in a research note on Monday, June 2nd. Stifel Nicolaus set a $13.00 target price on shares of Pebblebrook Hotel Trust and gave the stock a "buy" rating in a research note on Wednesday. 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. Finally, Wells Fargo & Company reaffirmed a "negative" rating on shares of Pebblebrook Hotel Trust in a research note on Tuesday, July 1st. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $11.78.
Read Our Latest Research Report on PEB
Pebblebrook Hotel Trust Stock Down 0.8%
Shares of NYSE:PEB traded down $0.08 during midday trading on Friday, reaching $9.95. The company's stock had a trading volume of 1,168,957 shares, compared to its average volume of 2,300,279. The firm has a 50 day moving average of $9.95 and a 200-day moving average of $10.56. The firm has a market capitalization of $1.18 billion, a P/E ratio of -17.17 and a beta of 1.75. The company has a quick ratio of 1.09, a current ratio of 1.31 and a debt-to-equity ratio of 0.82. Pebblebrook Hotel Trust has a 12-month low of $7.41 and a 12-month high of $15.12.
Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last released 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 firm had revenue of $407.54 million for the quarter, compared to the consensus estimate of $398.77 million. Pebblebrook Hotel Trust had a negative net margin of 2.20% and a negative return on equity of 1.17%. The company's revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. On average, research analysts anticipate that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current year.
Pebblebrook Hotel Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.01 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. Pebblebrook Hotel Trust's payout ratio is presently -8.33%.
Pebblebrook Hotel Trust Company Profile
(
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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