Prudential Financial Inc. boosted its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,858 shares of the real estate investment trust’s stock after buying an additional 120 shares during the period. Prudential Financial Inc.’s holdings in Pebblebrook Hotel Trust were worth $288,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its position in shares of Pebblebrook Hotel Trust by 16.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 600 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Pebblebrook Hotel Trust during the first quarter valued at about $180,000. GSA Capital Partners LLP purchased a new position in shares of Pebblebrook Hotel Trust during the fourth quarter valued at about $214,000. Karp Capital Management Corp purchased a new position in shares of Pebblebrook Hotel Trust during the first quarter valued at about $296,000. Finally, Federated Investors Inc. PA raised its position in shares of Pebblebrook Hotel Trust by 705.4% in the fourth quarter. Federated Investors Inc. PA now owns 10,172 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 8,909 shares in the last quarter.
Pebblebrook Hotel Trust (PEB) traded down 1.71% during mid-day trading on Friday, hitting $31.58. The company had a trading volume of 483,975 shares. Pebblebrook Hotel Trust has a 1-year low of $23.56 and a 1-year high of $34.38. The company has a 50 day moving average of $32.69 and a 200 day moving average of $30.76. The firm has a market capitalization of $2.18 billion, a PE ratio of 114.84 and a beta of 1.24.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $205.72 million during the quarter, compared to the consensus estimate of $199.30 million. Pebblebrook Hotel Trust had a net margin of 5.09% and a return on equity of 2.59%. Pebblebrook Hotel Trust’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Analysts predict that Pebblebrook Hotel Trust will post $1.07 earnings per share for the current fiscal year.
Pebblebrook Hotel Trust declared that its Board of Directors has initiated a share repurchase program on Thursday, July 27th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to repurchase up to 4.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Several brokerages have recently issued reports on PEB. TheStreet raised Pebblebrook Hotel Trust from a “c+” rating to a “b-” rating in a research report on Thursday, June 22nd. BidaskClub lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) downgraded Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and cut their price target for the stock from $27.00 to $26.00 in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $33.00 price target on shares of Pebblebrook Hotel Trust in a research note on Friday, June 23rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Pebblebrook Hotel Trust has a consensus rating of “Hold” and an average price target of $31.92.
Pebblebrook Hotel Trust Company Profile
Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.
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