JPMorgan Chase & Co. lowered its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 81.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,893 shares of the real estate investment trust’s stock after selling 1,025,268 shares during the period. JPMorgan Chase & Co. owned approximately 0.32% of Pebblebrook Hotel Trust worth $6,114,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Pitcairn Co. boosted its stake in 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 period. GSA Capital Partners LLP purchased a new stake in Pebblebrook Hotel Trust during the second quarter worth approximately $242,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Pebblebrook Hotel Trust by 6.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,860 shares of the real estate investment trust’s stock worth $311,000 after buying an additional 750 shares during the period. 1st Global Advisors Inc. boosted its stake in 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 period. Finally, Aperio Group LLC purchased a new stake in Pebblebrook Hotel Trust during the first quarter worth approximately $377,000.
Pebblebrook Hotel Trust (NYSE:PEB) traded down 2.33% during midday trading on Tuesday, hitting $26.87. The stock had a trading volume of 225,168 shares. The company has a market cap of $1.94 billion, a PE ratio of 15.70 and a beta of 1.35. The firm has a 50-day moving average of $27.73 and a 200-day moving average of $27.59. Pebblebrook Hotel Trust has a 12-month low of $20.51 and a 12-month high of $38.12.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data 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 analysts’ expectations of $212.93 million. Pebblebrook Hotel Trust had a return on equity of 8.47% and a net margin of 17.76%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. Equities research analysts forecast that Pebblebrook Hotel Trust will post $2.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 5.53%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 88.89%.
A number of analysts have commented on the company. TheStreet upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. Evercore ISI cut Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating and upped their price target for the stock from $27.00 to $30.00 in a research report on Wednesday, July 20th. Credit Suisse Group AG cut Pebblebrook Hotel Trust from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $30.00 to $29.00 in a research report on Thursday, July 21st. Zacks Investment Research cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 26th. Finally, Wells Fargo & Co. cut Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Pebblebrook Hotel Trust has a consensus rating of “Hold” and an average target price of $30.63.
Pebblebrook Hotel Trust Company Profile
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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