Bank of New York Mellon Corp Has $11.86 Million Holdings in Pebblebrook Hotel Trust $PEB

Bank of New York Mellon Corp lessened its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 4.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 939,176 shares of the real estate investment trust’s stock after selling 38,792 shares during the period. Bank of New York Mellon Corp owned about 0.83% of Pebblebrook Hotel Trust worth $11,862,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Pebblebrook Hotel Trust in the 1st quarter valued at approximately $34,000. Quadrant Capital Group LLC increased its position in Pebblebrook Hotel Trust by 32.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,220 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 796 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in Pebblebrook Hotel Trust during the 4th quarter worth approximately $38,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Pebblebrook Hotel Trust by 33.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,465 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 865 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Pebblebrook Hotel Trust by 188.0% in the 4th quarter. Hantz Financial Services Inc. now owns 5,049 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 3,296 shares during the last quarter.

Key Stories Impacting Pebblebrook Hotel Trust

Here are the key news stories impacting Pebblebrook Hotel Trust this week:

• Positive Sentiment: Stifel raises target and keeps a Buy rating: Stifel Nicolaus lifted its price target from $20.25 to $21.25, implying additional upside and reinforcing its positive view of Pebblebrook’s outlook. Benzinga analyst price-target update
• Positive Sentiment: Ladenburg raises target: Ladenburg Thalmann increased its price target from $19.00 to $21.00. Although its rating remains Neutral, the higher target suggests improved expectations for the hotel real estate investment trust. Benzinga analyst price-target update
• Positive Sentiment: Second-quarter results and outlook attract attention: Coverage of Pebblebrook’s Q2 earnings and conference call highlighted a resilient upswing, while comparisons with estimates are giving investors additional detail on the company’s operating performance. The company’s latest reported results included revenue above expectations and an adjusted loss narrower than analysts anticipated. TipRanks earnings-call report Zacks Q2 earnings analysis
• Neutral Sentiment: Analyst consensus remains cautious: Pebblebrook receives an average “Hold” recommendation, indicating that the improved price targets have not yet translated into broad-based conviction among analysts. American Banking News analyst consensus

Analysts Set New Price Targets

PEB has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH raised their target price on shares of Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday. Evercore set a $15.00 price target on shares of Pebblebrook Hotel Trust in a report on Monday, April 27th. Zacks Research upgraded Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Citigroup raised their price objective on Pebblebrook Hotel Trust from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Finally, Barclays boosted their price objective on Pebblebrook Hotel Trust from $13.00 to $15.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Pebblebrook Hotel Trust has an average rating of “Hold” and an average price target of $17.13.

Pebblebrook Hotel Trust Price Performance

Shares of PEB opened at $19.10 on Friday. Pebblebrook Hotel Trust has a 1 year low of $9.30 and a 1 year high of $19.93. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.34 and a quick ratio of 1.04. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -27.68, a price-to-earnings-growth ratio of 1.29 and a beta of 1.39. The business has a 50-day moving average of $18.09 and a 200-day moving average of $14.75.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.05. Pebblebrook Hotel Trust had a negative return on equity of 1.83% and a negative net margin of 3.11%.The business had revenue of $345.66 million for the quarter, compared to analysts’ expectations of $331.23 million. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. As a group, equities research analysts anticipate that Pebblebrook Hotel Trust will post 1.61 earnings per share for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -5.80%.

Pebblebrook Hotel Trust Profile

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.