Earnest Partners LLC lifted its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 6.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,312,060 shares of the real estate investment trust’s stock after buying an additional 138,960 shares during the period. Earnest Partners LLC’s holdings in Pebblebrook Hotel Trust were worth $65,154,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss National Bank lifted its stake in shares of Pebblebrook Hotel Trust by 2.9% in the first quarter. Swiss National Bank now owns 237,712 shares of the real estate investment trust’s stock worth $7,383,000 after acquiring an additional 6,700 shares in the last quarter. American Assets Investment Management LLC raised its stake in Pebblebrook Hotel Trust by 60.0% during the second quarter. American Assets Investment Management LLC now owns 40,000 shares of the real estate investment trust’s stock valued at $1,127,000 after buying an additional 15,000 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Pebblebrook Hotel Trust by 8.7% during the second quarter. Nisa Investment Advisors LLC now owns 68,848 shares of the real estate investment trust’s stock valued at $1,940,000 after buying an additional 5,534 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Pebblebrook Hotel Trust during the second quarter valued at approximately $1,463,000. Finally, Mason Street Advisors LLC raised its stake in Pebblebrook Hotel Trust by 3.5% during the first quarter. Mason Street Advisors LLC now owns 69,406 shares of the real estate investment trust’s stock valued at $2,156,000 after buying an additional 2,351 shares in the last quarter.
Several brokerages have issued reports on PEB. Wells Fargo & Co restated a “hold” rating on shares of Pebblebrook Hotel Trust in a research note on Tuesday, July 23rd. Bank of America cut Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and cut their price objective for the company from $33.00 to $29.00 in a research note on Wednesday, July 17th. Zacks Investment Research upgraded Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Capital One Financial began coverage on Pebblebrook Hotel Trust in a research note on Tuesday, June 25th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, BTIG Research cut Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $34.91.
NYSE:PEB opened at $29.16 on Friday. The firm has a market capitalization of $3.79 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 2.19 and a beta of 1.34. The stock has a 50 day moving average of $27.11 and a 200-day moving average of $29.47. Pebblebrook Hotel Trust has a 52 week low of $25.64 and a 52 week high of $37.09. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.65.
Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The company had revenue of $442.08 million during the quarter, compared to analyst estimates of $435.37 million. Pebblebrook Hotel Trust had a negative return on equity of 0.10% and a negative net margin of 0.25%. The business’s revenue was up 114.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 earnings per share. As a group, analysts predict that Pebblebrook Hotel Trust will post 2.65 EPS for the current fiscal year.
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 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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