Centersquare Investment Management LLC trimmed its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 31.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,360 shares of the real estate investment trust’s stock after selling 37,780 shares during the quarter. Centersquare Investment Management LLC owned 0.06% of Pebblebrook Hotel Trust worth $2,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of PEB. Telemus Capital LLC boosted its holdings in shares of Pebblebrook Hotel Trust by 3.1% in the 1st quarter. Telemus Capital LLC now owns 10,888 shares of the real estate investment trust’s stock worth $338,000 after buying an additional 328 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Pebblebrook Hotel Trust by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 126,218 shares of the real estate investment trust’s stock worth $3,920,000 after buying an additional 391 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Pebblebrook Hotel Trust by 2.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,999 shares of the real estate investment trust’s stock valued at $714,000 after acquiring an additional 531 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Pebblebrook Hotel Trust by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 53,807 shares of the real estate investment trust’s stock valued at $1,516,000 after acquiring an additional 746 shares during the period. Finally, State Treasurer State of Michigan raised its stake in Pebblebrook Hotel Trust by 2.0% in the 1st quarter. State Treasurer State of Michigan now owns 46,556 shares of the real estate investment trust’s stock valued at $1,446,000 after acquiring an additional 900 shares during the period.
PEB has been the topic of a number of research reports. Bank of America cut Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and lowered 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 initiated coverage on Pebblebrook Hotel Trust in a research note on Tuesday, June 25th. They issued an “overweight” rating and a $35.00 price objective on the stock. BTIG Research cut Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Co restated a “hold” rating on shares of Pebblebrook Hotel Trust in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $34.91.
Shares of PEB traded up $0.51 during midday trading on Friday, hitting $29.16. 38,507 shares of the company traded hands, compared to its average volume of 804,737. 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 one year low of $25.64 and a one year high of $37.09. The firm has a market cap of $3.79 billion, a P/E ratio of 11.90, a PEG ratio of 2.19 and a beta of 1.34. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.28 and a quick ratio of 0.28.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. Pebblebrook Hotel Trust had a negative return on equity of 0.10% and a negative net margin of 0.25%. The firm had revenue of $442.08 million for the quarter, compared to analysts’ expectations of $435.37 million. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue was up 114.1% on a year-over-year basis. Sell-side analysts forecast that Pebblebrook Hotel Trust will post 2.65 EPS for the current fiscal year.
Pebblebrook Hotel Trust Company 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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