Spirit of America Management Corp NY lessened its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 1.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,187 shares of the real estate investment trust’s stock after selling 650 shares during the quarter. Spirit of America Management Corp NY’s holdings in Pebblebrook Hotel Trust were worth $1,870,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its holdings in Pebblebrook Hotel Trust by 278.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 63,101 shares of the real estate investment trust’s stock valued at $1,786,000 after purchasing an additional 46,427 shares during the last quarter. Penn Capital Management Co. Inc. increased its holdings in Pebblebrook Hotel Trust by 8.8% in the fourth quarter. Penn Capital Management Co. Inc. now owns 245,503 shares of the real estate investment trust’s stock valued at $7,567,000 after purchasing an additional 19,769 shares during the last quarter. Texas Permanent School Fund bought a new stake in Pebblebrook Hotel Trust in the fourth quarter valued at about $2,372,000. Great West Life Assurance Co. Can increased its holdings in Pebblebrook Hotel Trust by 4.4% in the third quarter. Great West Life Assurance Co. Can now owns 46,801 shares of the real estate investment trust’s stock valued at $1,702,000 after purchasing an additional 1,974 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Pebblebrook Hotel Trust by 137.4% in the fourth quarter. Citigroup Inc. now owns 165,404 shares of the real estate investment trust’s stock valued at $4,683,000 after purchasing an additional 95,727 shares during the last quarter.
NYSE PEB traded down $0.08 during trading hours on Wednesday, hitting $30.91. 23,558 shares of the company traded hands, compared to its average volume of 1,131,623. Pebblebrook Hotel Trust has a twelve month low of $26.59 and a twelve month high of $41.65. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market capitalization of $4.04 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.35 and a beta of 1.34.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Monday, February 25th. The real estate investment trust reported $0.33 EPS for the quarter, beating the consensus estimate of $0.10 by $0.23. Pebblebrook Hotel Trust had a return on equity of 0.64% and a net margin of 1.62%. The firm had revenue of $235.64 million during the quarter, compared to analysts’ expectations of $207.53 million. During the same period in the prior year, the firm posted $0.11 earnings per share. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, research analysts forecast that Pebblebrook Hotel Trust will post 2.64 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, March 28th. This is a boost from Pebblebrook Hotel Trust’s previous quarterly dividend of $0.25. This represents a $1.52 annualized dividend and a yield of 4.92%. Pebblebrook Hotel Trust’s dividend payout ratio is 62.04%.
PEB has been the subject of several recent research reports. Barclays reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Tuesday, February 19th. Raymond James reduced their price objective on Pebblebrook Hotel Trust from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, December 21st. ValuEngine cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Goldman Sachs Group reaffirmed a “sell” rating and set a $26.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Thursday, January 10th. Finally, TheStreet cut Pebblebrook Hotel Trust from a “b-” rating to a “c” rating in a research report on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $36.33.
Pebblebrook Hotel Trust Profile
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 64 hotels, totaling approximately 15,400 guest rooms, located in 11 states and the District of Columbia, in the following markets: 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; Minneapolis, Minnesota; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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