Daiwa Securities Group Inc. Has $138.62 Million Holdings in Pebblebrook Hotel Trust (PEB)
Daiwa Securities Group Inc. grew its position in Pebblebrook Hotel Trust (NYSE:PEB) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,896,412 shares of the real estate investment trust’s stock after purchasing an additional 160,595 shares during the quarter. Pebblebrook Hotel Trust comprises approximately 1.3% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 24th biggest holding. Daiwa Securities Group Inc. owned about 7.09% of Pebblebrook Hotel Trust worth $138,618,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cohen & Steers Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 149.9% during the third quarter. Cohen & Steers Inc. now owns 10,378,746 shares of the real estate investment trust’s stock worth $377,475,000 after buying an additional 6,224,806 shares during the period. BlackRock Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 2.4% during the third quarter. BlackRock Inc. now owns 6,927,721 shares of the real estate investment trust’s stock worth $251,960,000 after buying an additional 163,749 shares during the period. Earnest Partners LLC lifted its stake in shares of Pebblebrook Hotel Trust by 22.1% during the third quarter. Earnest Partners LLC now owns 2,187,778 shares of the real estate investment trust’s stock worth $79,569,000 after buying an additional 395,982 shares during the period. Jennison Associates LLC lifted its stake in shares of Pebblebrook Hotel Trust by 43.1% during the third quarter. Jennison Associates LLC now owns 1,712,779 shares of the real estate investment trust’s stock worth $62,294,000 after buying an additional 516,215 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in shares of Pebblebrook Hotel Trust by 1.9% during the third quarter. Macquarie Group Ltd. now owns 1,343,124 shares of the real estate investment trust’s stock worth $48,849,000 after buying an additional 24,965 shares during the period.
Several research firms have recently commented on PEB. Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 3rd. ValuEngine upgraded shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Barclays restated a “buy” rating and set a $38.00 target price on shares of Pebblebrook Hotel Trust in a research report on Sunday, December 23rd. Raymond James decreased their target price on shares of Pebblebrook Hotel Trust from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, December 21st. Finally, Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday, November 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $36.88.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Thursday, November 29th were paid a dividend of $0.2478 per share. The ex-dividend date was Wednesday, November 28th. This represents a $0.99 dividend on an annualized basis and a dividend yield of 3.14%. Pebblebrook Hotel Trust’s dividend payout ratio is currently 20.62%.
In related news, Director Cydney Donnell bought 1,400 shares of the business’s stock in a transaction dated Friday, December 7th. The stock was acquired at an average price of $35.58 per share, with a total value of $49,812.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.20% of the stock is owned by insiders.
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About Pebblebrook Hotel Trust
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 64 hotels, totaling approximately 15,400 guest rooms, located in 11 states and the District of Columbia, in the following markets: 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; Minneapolis, Minnesota; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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