Strs Ohio reduced its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 131,557 shares of the real estate investment trust’s stock after selling 2,334 shares during the period. Strs Ohio’s holdings in Pebblebrook Hotel Trust were worth $3,453,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pitcairn Co. raised its position in shares of Pebblebrook Hotel Trust by 5.7% in the second quarter. Pitcairn Co. now owns 8,344 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 449 shares during the last quarter. 1st Global Advisors Inc. raised its position in shares of Pebblebrook Hotel Trust by 1.1% in the second quarter. 1st Global Advisors Inc. now owns 12,843 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 135 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Pebblebrook Hotel Trust during the first quarter worth approximately $377,000. Adams Diversified Equity Fund Inc. purchased a new position in shares of Pebblebrook Hotel Trust during the second quarter worth approximately $420,000. Finally, Prudential Financial Inc. raised its position in shares of Pebblebrook Hotel Trust by 142.9% in the first quarter. Prudential Financial Inc. now owns 19,038 shares of the real estate investment trust’s stock worth $553,000 after buying an additional 11,200 shares during the last quarter.
Shares of Pebblebrook Hotel Trust (NYSE:PEB) traded down 0.15% during mid-day trading on Friday, hitting $26.51. The stock had a trading volume of 1,009,692 shares. The stock’s 50-day moving average price is $27.81 and its 200 day moving average price is $27.59. Pebblebrook Hotel Trust has a 1-year low of $20.51 and a 1-year high of $38.88. The company has a market capitalization of $1.91 billion, a P/E ratio of 15.49 and a beta of 1.35.
Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.06. The business earned $212.27 million during the quarter, compared to the consensus estimate of $212.93 million. Pebblebrook Hotel Trust had a return on equity of 8.47% and a net margin of 17.76%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. On average, analysts predict that Pebblebrook Hotel Trust will post $2.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 annualized dividend and a yield of 5.73%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 88.89%.
PEB has been the subject of a number of recent research reports. Barclays PLC set a $32.00 target price on Pebblebrook Hotel Trust and gave the company a “buy” rating in a research note on Wednesday, July 27th. TheStreet upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research note on Monday, July 11th. Zacks Investment Research upgraded Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Evercore ISI lowered Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating and upped their target price for the company from $27.00 to $30.00 in a research note on Wednesday, July 20th. Finally, Wells Fargo & Co. lowered Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Pebblebrook Hotel Trust has an average rating of “Hold” and a consensus target price of $30.63.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is organized to acquire and invest in hotel properties located primarily in cities of the United States. The Company has interests in approximately 40 hotels, including over 30 owned hotels with a total of approximately 7,410 guest rooms, and approximately 49% joint venture interest in over six hotels with a total of approximately 1,790 guest rooms.
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