Russell Investments Group Ltd. lifted its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 563.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 631,364 shares of the real estate investment trust’s stock after buying an additional 536,269 shares during the quarter. Russell Investments Group Ltd.’s holdings in Pebblebrook Hotel Trust were worth $22,922,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Assetmark Inc. grew its position in shares of Pebblebrook Hotel Trust by 278.2% during the 2nd quarter. Assetmark Inc. now owns 4,168 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 3,066 shares during the period. Integrated Investment Consultants LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $203,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $213,000. Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $219,000. Finally, BB&T Corp acquired a new stake in shares of Pebblebrook Hotel Trust during the 2nd quarter worth approximately $222,000.
NYSE PEB opened at $33.79 on Tuesday. Pebblebrook Hotel Trust has a 12-month low of $31.05 and a 12-month high of $41.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $2.30 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 2.55 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Thursday, September 27th. Pebblebrook Hotel Trust’s payout ratio is currently 59.14%.
Several brokerages have recently commented on PEB. Robert W. Baird set a $38.00 price objective on shares of Pebblebrook Hotel Trust and gave the stock a “hold” rating in a research report on Wednesday, October 10th. ValuEngine downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research report on Saturday. Bank of America reaffirmed a “buy” rating and set a $36.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Monday, October 29th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $40.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Wednesday, August 15th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.42.
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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 6,973 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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