Daiwa Securities Group Inc. trimmed its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 17.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,304,242 shares of the real estate investment trust’s stock after selling 694,966 shares during the quarter. Daiwa Securities Group Inc. owned approximately 4.79% of Pebblebrook Hotel Trust worth $128,205,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Federated Investors Inc. PA increased its position in Pebblebrook Hotel Trust by 302.0% during the 1st quarter. Federated Investors Inc. PA now owns 4,100 shares of the real estate investment trust’s stock worth $141,000 after purchasing an additional 3,080 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Pebblebrook Hotel Trust during the 2nd quarter worth approximately $213,000. BB&T Corp acquired a new position in Pebblebrook Hotel Trust in the 2nd quarter valued at approximately $222,000. Xact Kapitalforvaltning AB acquired a new position in Pebblebrook Hotel Trust in the 4th quarter valued at approximately $234,000. Finally, Lido Advisors LLC acquired a new position in Pebblebrook Hotel Trust in the 1st quarter valued at approximately $245,000.
NYSE PEB traded down $0.07 on Monday, hitting $38.43. The company’s stock had a trading volume of 67,227 shares, compared to its average volume of 538,372. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.82 and a current ratio of 0.82. Pebblebrook Hotel Trust has a 1-year low of $31.29 and a 1-year high of $41.65. The stock has a market cap of $2.66 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 2.92 and a beta of 1.27.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Friday, June 29th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Thursday, June 28th. Pebblebrook Hotel Trust’s dividend payout ratio is currently 59.14%.
Several equities analysts have issued reports on PEB shares. ValuEngine cut shares of Pebblebrook Hotel Trust from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 2nd. Boenning Scattergood restated a “hold” rating on shares of Pebblebrook Hotel Trust in a research report on Monday, April 30th. Robert W. Baird upped their price target on shares of Pebblebrook Hotel Trust from $37.00 to $38.00 and gave the company a “hold” rating in a research report on Tuesday, May 1st. Finally, Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating and set a $40.00 price target for the company in a research report on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $37.19.
Pebblebrook Hotel Trust 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 28 hotels, with a total of 6,972 guest rooms. The Company owns hotels located in 9 states and the District of Columbia, including: Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Washington, DC; Coral Gables, Florida; Naples, Florida; Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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