Pebblebrook Hotel Trust (NYSE:PEB) Position Increased by Raymond James & Associates

Raymond James & Associates lifted its holdings in Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) by 14.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 310,205 shares of the real estate investment trust’s stock after purchasing an additional 38,616 shares during the period. Raymond James & Associates’ holdings in Pebblebrook Hotel Trust were worth $4,154,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Waterfront Capital Partners LLC acquired a new stake in Pebblebrook Hotel Trust during the third quarter worth about $11,245,000. Millennium Management LLC lifted its holdings in shares of Pebblebrook Hotel Trust by 238.6% in the 2nd quarter. Millennium Management LLC now owns 938,218 shares of the real estate investment trust’s stock worth $15,546,000 after purchasing an additional 661,149 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Pebblebrook Hotel Trust by 7.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,824,851 shares of the real estate investment trust’s stock valued at $146,228,000 after purchasing an additional 636,463 shares during the period. Renaissance Technologies LLC boosted its position in Pebblebrook Hotel Trust by 266.1% during the 2nd quarter. Renaissance Technologies LLC now owns 653,495 shares of the real estate investment trust’s stock valued at $10,828,000 after purchasing an additional 474,995 shares during the period. Finally, Fisher Asset Management LLC bought a new position in Pebblebrook Hotel Trust during the 4th quarter worth $5,704,000.

Pebblebrook Hotel Trust Stock Down 2.6 %

Shares of PEB stock opened at $13.25 on Thursday. Pebblebrook Hotel Trust has a 1 year low of $12.37 and a 1 year high of $24.30. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.71. The business’s fifty day moving average is $13.94 and its 200-day moving average is $14.63. The stock has a market cap of $1.63 billion, a PE ratio of -33.97, a price-to-earnings-growth ratio of 0.60 and a beta of 1.85.

Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) last released its earnings results on Tuesday, February 21st. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.52). Pebblebrook Hotel Trust had a negative return on equity of 0.34% and a negative net margin of 0.73%. The firm had revenue of $319.61 million for the quarter, compared to analyst estimates of $309.55 million. During the same period in the previous year, the firm earned $0.06 earnings per share. Pebblebrook Hotel Trust’s revenue was up 29.3% on a year-over-year basis. Equities analysts expect that Pebblebrook Hotel Trust will post 1.62 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Stockholders of record on Friday, March 31st were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -10.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PEB shares. Morgan Stanley cut their target price on Pebblebrook Hotel Trust from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 7th. Barclays reduced their target price on shares of Pebblebrook Hotel Trust from $18.00 to $16.00 in a research note on Wednesday, April 26th. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Saturday, May 20th. Citigroup boosted their price objective on Pebblebrook Hotel Trust from $15.00 to $16.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 1st. Finally, Stifel Nicolaus raised their target price on Pebblebrook Hotel Trust from $15.25 to $15.50 in a research report on Thursday, April 27th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $17.70.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 11,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Wednesday, March 22nd. The stock was purchased at an average cost of $12.95 per share, for a total transaction of $142,450.00. Following the completion of the acquisition, the chief executive officer now owns 1,122,102 shares of the company’s stock, valued at approximately $14,531,220.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jon E. Bortz purchased 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was acquired at an average price of $12.95 per share, for a total transaction of $142,450.00. Following the transaction, the chief executive officer now directly owns 1,122,102 shares of the company’s stock, valued at approximately $14,531,220.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jon E. Bortz purchased 14,000 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was bought at an average cost of $13.62 per share, for a total transaction of $190,680.00. Following the purchase, the chief executive officer now directly owns 1,108,102 shares in the company, valued at approximately $15,092,349.24. The disclosure for this purchase can be found here. Insiders have acquired 39,865 shares of company stock worth $555,064 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

About Pebblebrook Hotel Trust

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Pebblebrook Hotel Trust is a real estate investment trust, engages in investments and acquisitions in hotel properties. Its hotels are located in markets like Atlanta, Georgia, Boston, Massachusetts, Chicago, Illinois, Key West, Miami and Naples, Florida, Los Angeles, San Diego and San Francisco, California, Nashville, Tennessee, New York, New York, Philadelphia, Pennsylvania, Portland, Oregon, and Seattle, Washington.