Heitman Real Estate Securities LLC reduced its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 23.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 617,184 shares of the real estate investment trust’s stock after selling 193,164 shares during the quarter. Heitman Real Estate Securities LLC owned 0.89% of Pebblebrook Hotel Trust worth $22,047,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in PEB. JPMorgan Chase & Co. increased its stake in Pebblebrook Hotel Trust by 121.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,324,732 shares of the real estate investment trust’s stock valued at $114,204,000 after purchasing an additional 1,825,112 shares in the last quarter. Deutsche Bank AG increased its stake in Pebblebrook Hotel Trust by 12.0% during the 4th quarter. Deutsche Bank AG now owns 4,126,398 shares of the real estate investment trust’s stock valued at $153,374,000 after purchasing an additional 442,725 shares in the last quarter. American Century Companies Inc. bought a new stake in Pebblebrook Hotel Trust during the 4th quarter valued at about $7,811,000. Matarin Capital Management LLC bought a new stake in Pebblebrook Hotel Trust during the 1st quarter valued at about $4,681,000. Finally, Phocas Financial Corp. increased its stake in Pebblebrook Hotel Trust by 72.9% during the 4th quarter. Phocas Financial Corp. now owns 313,323 shares of the real estate investment trust’s stock valued at $11,646,000 after purchasing an additional 132,075 shares in the last quarter.
Shares of Pebblebrook Hotel Trust traded up $0.01, reaching $38.71, during trading on Wednesday, according to MarketBeat Ratings. 2,348 shares of the company traded hands, compared to its average volume of 727,382. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.56. The company has a market cap of $2.70 billion, a PE ratio of 15.06, a PEG ratio of 2.95 and a beta of 1.26. Pebblebrook Hotel Trust has a 52-week low of $31.29 and a 52-week high of $41.65.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Thursday, April 26th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.35). The company had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $179.30 million. Pebblebrook Hotel Trust had a net margin of 13.83% and a return on equity of 7.04%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. equities research analysts anticipate that Pebblebrook Hotel Trust will post 2.66 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, June 28th. Pebblebrook Hotel Trust’s payout ratio is presently 59.14%.
A number of analysts have weighed in on PEB shares. ValuEngine lowered shares of Pebblebrook Hotel Trust from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd. Robert W. Baird set a $37.00 price objective on shares of Pebblebrook Hotel Trust and gave the company a “hold” rating in a research note on Tuesday, February 27th. Boenning Scattergood restated a “hold” rating on shares of Pebblebrook Hotel Trust in a research note on Monday, February 26th. Finally, Zacks Investment Research lowered shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, June 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $36.61.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a publicly traded real estate investment trust (?REIT?) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns 28 hotels, with a total of 6,972 guest rooms. The Company owns hotels located in 9 states and the District of Columbia, including: Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Washington, DC; Coral Gables, Florida; Naples, Florida; Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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