New York State Teachers Retirement System lowered its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 14.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,552 shares of the real estate investment trust’s stock after selling 18,666 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Pebblebrook Hotel Trust worth $3,031,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Oregon Public Employees Retirement Fund increased its holdings in Pebblebrook Hotel Trust by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 53,807 shares of the real estate investment trust’s stock valued at $1,516,000 after buying an additional 746 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Pebblebrook Hotel Trust by 8.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 68,848 shares of the real estate investment trust’s stock worth $1,940,000 after buying an additional 5,534 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Pebblebrook Hotel Trust by 35.8% during the 1st quarter. Nordea Investment Management AB now owns 505,566 shares of the real estate investment trust’s stock worth $15,703,000 after buying an additional 133,292 shares during the last quarter. GYL Financial Synergies LLC acquired a new stake in shares of Pebblebrook Hotel Trust during the 1st quarter worth about $524,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 30.4% during the 1st quarter. Advisors Asset Management Inc. now owns 6,958 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 1,621 shares during the last quarter.
Shares of NYSE PEB traded down $0.96 during trading on Monday, reaching $26.07. The stock had a trading volume of 16,526 shares, compared to its average volume of 1,014,729. Pebblebrook Hotel Trust has a fifty-two week low of $26.39 and a fifty-two week high of $39.51. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50-day moving average price of $27.90. The stock has a market capitalization of $3.53 billion, a P/E ratio of 10.69, a P/E/G ratio of 2.04 and a beta of 1.34.
Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Thursday, July 25th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.02. Pebblebrook Hotel Trust had a negative return on equity of 0.10% and a negative net margin of 0.25%. The company had revenue of $442.08 million for the quarter, compared to analysts’ expectations of $435.37 million. During the same quarter in the previous year, the firm posted $0.81 EPS. The firm’s quarterly revenue was up 114.1% on a year-over-year basis. Research analysts expect that Pebblebrook Hotel Trust will post 2.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 5.83%. The ex-dividend date was Thursday, June 27th. Pebblebrook Hotel Trust’s payout ratio is 62.04%.
Several equities analysts have commented on the company. SunTrust Banks assumed coverage on Pebblebrook Hotel Trust in a research report on Monday, May 6th. They issued a “hold” rating and a $43.00 price objective on the stock. BTIG Research reduced their price objective on Pebblebrook Hotel Trust from $42.50 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. They noted that the move was a valuation call. Wells Fargo & Co reiterated a “hold” rating on shares of Pebblebrook Hotel Trust in a research report on Tuesday, July 23rd. Capital One Financial assumed coverage on Pebblebrook Hotel Trust in a research report on Tuesday, June 25th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Bank of America downgraded Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $33.00 to $29.00 in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $35.33.
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 61 hotels, totaling approximately 14,600 guest rooms, located in 10 states and the District of Columbia, including: Del Mar, California; Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Santa Cruz, California; Washington, DC; Coral Gables, Florida; Key West, Florida; Naples, Florida; Buckhead, Georgia; Chicago, Illinois; Boston, Massachusetts; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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