K.J. Harrison & Partners Inc Raises Stake in Pebblebrook Hotel Trust (PEB)
K.J. Harrison & Partners Inc raised its position in Pebblebrook Hotel Trust (NYSE:PEB) by 20.0% during the second quarter, Holdings Channel reports. The institutional investor owned 60,000 shares of the real estate investment trust’s stock after buying an additional 10,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Pebblebrook Hotel Trust were worth $1,575,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of PEB. Goldman Sachs Group Inc. increased its stake in Pebblebrook Hotel Trust by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 5,299,234 shares of the real estate investment trust’s stock worth $154,048,000 after buying an additional 303,906 shares in the last quarter. Heitman Real Estate Securities LLC bought a new position in shares of Pebblebrook Hotel Trust during the first quarter worth about $88,057,000. Silvercrest Asset Management Group LLC boosted its position in shares of Pebblebrook Hotel Trust by 19.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 2,346,553 shares of the real estate investment trust’s stock worth $68,214,000 after buying an additional 388,199 shares during the last quarter. Norges Bank bought a new position in shares of Pebblebrook Hotel Trust during the fourth quarter worth about $17,821,000. Finally, Geode Capital Management LLC boosted its position in shares of Pebblebrook Hotel Trust by 4.7% in the first quarter. Geode Capital Management LLC now owns 575,566 shares of the real estate investment trust’s stock worth $16,731,000 after buying an additional 25,839 shares during the last quarter.
Shares of Pebblebrook Hotel Trust (NYSE:PEB) traded up 0.88% during mid-day trading on Wednesday, reaching $26.34. The company’s stock had a trading volume of 2,097,831 shares. The company has a 50-day moving average of $29.25 and a 200-day moving average of $27.70. The firm has a market cap of $1.89 billion, a PE ratio of 15.39 and a beta of 1.24. Pebblebrook Hotel Trust has a 12 month low of $20.51 and a 12 month high of $38.88.
Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Monday, July 25th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.06. The company had revenue of $212.27 million for the quarter, compared to analyst estimates of $212.93 million. Pebblebrook Hotel Trust had a return on equity of 8.47% and a net margin of 17.76%. Pebblebrook Hotel Trust’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. On average, analysts predict that Pebblebrook Hotel Trust will post $2.71 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 5.77%. The ex-dividend date of this dividend is Wednesday, September 28th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 88.89%.
A number of research analysts have issued reports on the company. BTIG Research assumed coverage on Pebblebrook Hotel Trust in a report on Thursday, August 25th. They set a “neutral” rating for the company. Barclays PLC set a $32.00 price objective on Pebblebrook Hotel Trust and gave the company a “buy” rating in a report on Wednesday, July 27th. Wells Fargo & Co. cut Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 26th. Evercore ISI cut Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating and lifted their price objective for the company from $27.00 to $30.00 in a report on Wednesday, July 20th. Finally, Zacks Investment Research raised Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Pebblebrook Hotel Trust presently has an average rating of “Hold” and an average target price of $32.22.
Pebblebrook Hotel Trust Company Profile
Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is organized to acquire and invest in hotel properties located primarily in cities of the United States. The Company has interests in approximately 40 hotels, including over 30 owned hotels with a total of approximately 7,410 guest rooms, and approximately 49% joint venture interest in over six hotels with a total of approximately 1,790 guest rooms.
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