Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Pebblebrook Hotel Trust (NYSE: PEB – Get a rating) by 16.1% during the first quarter, Holdings Channel.com reports. The company held 15,094 shares of the real estate investment trust after acquiring an additional 2,089 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Pebblebrook Hotel Trust were worth $370,000 at the end of last quarter.
A number of other large investors also changed their PEB holdings. William Blair Investment Management LLC increased its position in Pebblebrook Hotel Trust by 87.8% in the fourth quarter. William Blair Investment Management LLC now owns 1,964,370 shares of the real estate investment trust worth $43,943,000 after purchasing an additional 918,466 shares during the period. Silvercrest Asset Management Group LLC increased its position in Pebblebrook Hotel Trust by 25.2% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 4,458,564 shares of the real estate investment trust worth $99,216,000 after purchasing an additional 898,528 shares during the period. Point72 Asset Management LP increased its position in shares of Pebblebrook Hotel Trust by 1,980.9% in the fourth quarter. Point72 Asset Management LP now owns 846,916 shares of the real estate investment trust worth $18,946,000 after acquiring an additional 806,216 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of Pebblebrook Hotel Trust by 32.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,961,689 shares of the real estate investment trust valued at $43,883,000 after acquiring an additional 475,409 shares during the period. Finally, SG Capital Management LLC bought a new position in shares of Pebblebrook Hotel Trust in the first quarter valued at approximately $3,507,000.
In related news, CEO Jon E. Bortz purchased 10,000 shares of the company in a trade dated Wednesday, June 29. The shares were purchased at an average price of $16.33 per share, with a total value of $163,300.00. As a result of the purchase, the CEO now owns 990,830 shares of the company, valued at approximately $16,180,253.90. The acquisition was disclosed in an SEC filing, which is available via the SEC website. Insiders hold 1.90% of the shares of the company.
Shares of PEB opened at $16.81 on Friday. The company’s 50-day moving average price is $21.40 and its 200-day moving average price is $22.42. The company has a market capitalization of $2.21 billion, a price-earnings ratio of -10.07, a PEG ratio of 0.70 and a beta of 1.69. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt ratio of 0.79. Pebblebrook Hotel Trust has a 1-year low of $16.04 and a 1-year high of $26.45.
Pebblebrook Hotel Trust (NYSE: PEB – Get a rating) last announced its results on Tuesday, April 26. The real estate investment trust reported ($0.85) earnings per share for the quarter, missing analyst consensus estimates of ($0.10) by ($0.75). Pebblebrook Hotel Trust had a negative net margin of 18.05% and a negative return on equity of 5.16%. In the same quarter of the previous year, the company recorded EPS of ($0.42). On average, research analysts expect Pebblebrook Hotel Trust to post 1.8 EPS for the current financial year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Thursday, June 30 will receive a dividend of $0.01 per share. This represents a dividend of $0.04 on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Wednesday, June 29. Pebblebrook Hotel Trust’s payout rate is -2.40%.
A number of research companies have published reports on PEB. StockNews.com began covering shares of Pebblebrook Hotel Trust in a research report on Thursday, March 31. They issued a “sell” rating on the stock. Sumitomo Mitsui Financial Group began covering shares of Pebblebrook Hotel Trust in a research report on Wednesday, March 23. They issued an “outperform” rating and a price target of $27.00 on the stock. Finally, Stifel Nicolaus cut his price target on Pebblebrook Hotel Trust shares from $26.25 to $23.25 in a Friday, June 24 research report. One equity research analyst gave the stock a sell rating, four gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.46.
Pebblebrook Hotel Trust Profile (Get a rating)
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of city and resort hotels in the United States. The company owns 53 hotels, totaling approximately 13,200 rooms in 14 city and resort markets, with an emphasis on West Coast gateway cities.
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