Timbercreek Investment Management Inc. Has $5.30 Million Stake in Pebblebrook Hotel Trust (PEB)
Timbercreek Investment Management Inc. reduced its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 3.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 187,300 shares of the real estate investment trust’s stock after selling 5,700 shares during the period. Pebblebrook Hotel Trust makes up 1.5% of Timbercreek Investment Management Inc.’s investment portfolio, making the stock its 28th largest holding. Timbercreek Investment Management Inc.’s holdings in Pebblebrook Hotel Trust were worth $5,302,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue lifted its position in shares of Pebblebrook Hotel Trust by 103.9% during the fourth quarter. State of Alaska Department of Revenue now owns 44,504 shares of the real estate investment trust’s stock valued at $1,259,000 after purchasing an additional 22,676 shares in the last quarter. Retirement Systems of Alabama bought a new position in shares of Pebblebrook Hotel Trust during the fourth quarter valued at about $4,701,000. Pensionfund DSM Netherlands bought a new position in shares of Pebblebrook Hotel Trust during the fourth quarter valued at about $1,526,000. Pensionfund Sabic bought a new position in shares of Pebblebrook Hotel Trust during the fourth quarter valued at about $633,000. Finally, Marshall Wace LLP lifted its position in shares of Pebblebrook Hotel Trust by 736.9% during the third quarter. Marshall Wace LLP now owns 85,228 shares of the real estate investment trust’s stock valued at $3,100,000 after purchasing an additional 75,044 shares in the last quarter.
In other Pebblebrook Hotel Trust news, Director Cydney Donnell purchased 1,400 shares of the stock in a transaction dated Friday, December 7th. The shares were bought at an average price of $35.58 per share, with a total value of $49,812.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Thursday, November 29th will be given a $0.2478 dividend. This represents a $0.99 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Wednesday, November 28th. Pebblebrook Hotel Trust’s dividend payout ratio is 20.62%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Thursday, December 13th. ValuEngine raised shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research report on Thursday. Goldman Sachs Group reaffirmed a “sell” rating and issued a $26.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Thursday. Bank of America reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Monday, October 29th. Finally, Robert W. Baird set a $38.00 price objective on shares of Pebblebrook Hotel Trust and gave the stock a “hold” rating in a research report on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and a consensus target price of $36.88.
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 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.
Further Reading: Quiet Period
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