Pebblebrook Hotel Trust $PEB Stock: Penn Capital Management Company LLC Boosts Stake

Key Points

• Penn Capital Management nearly doubled its Pebblebrook Hotel Trust stake in the third quarter, adding 59,576 shares to hold 120,487 shares valued at about $2.3 million. Several other institutional investors also increased their holdings.
• Analysts’ consensus rating is Hold, with an average price target of $18.83; ratings include two Strong Buys, three Buys, six Holds, and two Sells.
• Pebblebrook reported a quarterly loss of $0.56 per share, missing the $0.03-per-share consensus estimate, while revenue of $402.75 million topped expectations and rose 1% year over year.

Penn Capital Management Company LLC boosted its holdings in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) by 97.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,487 shares of the real estate investment trust's stock after acquiring an additional 59,576 shares during the period. Penn Capital Management Company LLC owned about 0.11% of Pebblebrook Hotel Trust worth $2,275,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Pictet Asset Management Holding SA raised its holdings in shares of Pebblebrook Hotel Trust by 16.2% during the third quarter. Pictet Asset Management Holding SA now owns 19,663 shares of the real estate investment trust's stock valued at $369,000 after buying an additional 2,739 shares during the last quarter. VCI Wealth Management LLC bought a new position in Pebblebrook Hotel Trust in the 3rd quarter worth approximately $2,293,000. State of Wyoming grew its holdings in Pebblebrook Hotel Trust by 26.6% in the 3rd quarter. State of Wyoming now owns 46,238 shares of the real estate investment trust's stock worth $867,000 after buying an additional 9,713 shares in the last quarter. Asset Management One Co. Ltd. increased its position in Pebblebrook Hotel Trust by 3.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 155,288 shares of the real estate investment trust's stock valued at $2,913,000 after acquiring an additional 5,223 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Pebblebrook Hotel Trust by 23.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,282 shares of the real estate investment trust's stock valued at $118,000 after acquiring an additional 1,185 shares during the period.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup upped 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 note on Wednesday, July 22nd. Wells Fargo & Company raised their price objective on shares of Pebblebrook Hotel Trust from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Monday, October 26th. Zacks Research raised Pebblebrook Hotel Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 20th. LADENBURG THALM/SH SH boosted their target price on Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded Pebblebrook Hotel Trust from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $18.83.

Pebblebrook Hotel Trust Stock Up 3.0%

NYSE:PEB opened at $21.75 on Tuesday. The business's fifty day moving average price is $19.36 and its 200 day moving average price is $16.35. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.05 and a beta of 1.45. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.86. Pebblebrook Hotel Trust has a 1-year low of $10.46 and a 1-year high of $22.40.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported ($0.56) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.59). Pebblebrook Hotel Trust had a negative net margin of 4.55% and a negative return on equity of 2.73%. The company had revenue of $402.75 million for the quarter, compared to analysts' expectations of $393.55 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The business's revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Pebblebrook Hotel Trust will post 1.76 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, September 30th. Pebblebrook Hotel Trust's dividend payout ratio (DPR) is -4.55%.

About Pebblebrook Hotel Trust

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