M&T Bank Corp boosted its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 12.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,848 shares of the real estate investment trust’s stock after purchasing an additional 986 shares during the period. M&T Bank Corp’s holdings in Pebblebrook Hotel Trust were worth $286,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in PEB. First Mercantile Trust Co. increased its holdings in Pebblebrook Hotel Trust by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,680 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 60 shares during the period. Envestnet Asset Management Inc. increased its holdings in Pebblebrook Hotel Trust by 16.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 600 shares during the period. SG Americas Securities LLC increased its holdings in Pebblebrook Hotel Trust by 6.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,401 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 249 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Pebblebrook Hotel Trust during the 1st quarter valued at about $180,000. Finally, GAM Holding AG increased its holdings in Pebblebrook Hotel Trust by 2.3% during the 2nd quarter. GAM Holding AG now owns 5,892 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 134 shares during the period.
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Shares of Pebblebrook Hotel Trust (PEB) opened at 37.23 on Friday. The company has a market capitalization of $2.57 billion, a PE ratio of 135.38 and a beta of 1.26. The firm’s 50-day moving average price is $34.59 and its 200 day moving average price is $32.31. Pebblebrook Hotel Trust has a 52-week low of $23.56 and a 52-week high of $37.32.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. The business had revenue of $205.72 million for the quarter, compared to analyst estimates of $199.30 million. Pebblebrook Hotel Trust had a net margin of 5.09% and a return on equity of 2.59%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. On average, equities analysts forecast that Pebblebrook Hotel Trust will post $1.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, September 28th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 506.68%.
Pebblebrook Hotel Trust declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 4.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
PEB has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Pebblebrook Hotel Trust from $30.00 to $31.50 and gave the company a “hold” rating in a report on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and set a $33.00 price target on shares of Pebblebrook Hotel Trust in a report on Friday, June 23rd. TheStreet upgraded Pebblebrook Hotel Trust from a “c+” rating to a “b-” rating in a report on Thursday, June 22nd. Barclays PLC reaffirmed a “buy” rating and set a $35.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Wednesday, June 28th. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $35.00 price objective (up from $32.00) on shares of Pebblebrook Hotel Trust in a research report on Wednesday, June 28th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.06.
Pebblebrook Hotel Trust Company Profile
Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.
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