Pebblebrook Hotel Trust (NYSE:PEB) Position Lowered by Janus Capital Management LLC
Janus Capital Management LLC lowered its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 1.4% during the first quarter, Holdings Channel reports. The fund owned 127,635 shares of the real estate investment trust’s stock after selling 1,862 shares during the period. Janus Capital Management LLC’s holdings in Pebblebrook Hotel Trust were worth $3,728,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in Pebblebrook Hotel Trust by 16.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 600 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Pebblebrook Hotel Trust during the first quarter valued at $180,000. GSA Capital Partners LLP bought a new position in Pebblebrook Hotel Trust during the fourth quarter valued at $214,000. Oppenheimer Asset Management Inc. bought a new position in Pebblebrook Hotel Trust during the first quarter valued at $232,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new position in Pebblebrook Hotel Trust during the first quarter valued at $261,000.
Shares of Pebblebrook Hotel Trust (NYSE PEB) opened at 33.17 on Monday. The stock has a market cap of $2.31 billion, a P/E ratio of 48.07 and a beta of 1.23. Pebblebrook Hotel Trust has a 12 month low of $23.56 and a 12 month high of $33.84. The stock has a 50 day moving average price of $31.94 and a 200-day moving average price of $30.08.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Thursday, April 27th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. Pebblebrook Hotel Trust had a net margin of 8.87% and a return on equity of 4.38%. The company had revenue of $182.18 million for the quarter, compared to the consensus estimate of $184.69 million. During the same period in the previous year, the business earned $0.56 EPS. The company’s revenue was down 7.2% on a year-over-year basis. On average, analysts forecast that Pebblebrook Hotel Trust will post $0.87 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.58%. The ex-dividend date is Wednesday, June 28th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently 220.29%.
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PEB has been the subject of several recent research reports. TheStreet raised Pebblebrook Hotel Trust from a “c+” rating to a “b-” rating in a research report on Thursday, June 22nd. BidaskClub raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. ValuEngine raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Barclays PLC reissued a “buy” rating and set a $35.00 price target on shares of Pebblebrook Hotel Trust in a research report on Wednesday, June 28th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $33.00 price target on shares of Pebblebrook Hotel Trust in a research report on Friday, June 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Pebblebrook Hotel Trust currently has an average rating of “Hold” and an average target price of $31.44.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.
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