Public Employees Retirement Association of Colorado lifted its position in Pebblebrook Hotel Trust (NYSE:PEB) by 18.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,600 shares of the real estate investment trust’s stock after acquiring an additional 74,900 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.70% of Pebblebrook Hotel Trust worth $17,625,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in shares of Pebblebrook Hotel Trust by 278.2% in the 2nd quarter. Assetmark Inc. now owns 4,168 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 3,066 shares during the last quarter. Integrated Investment Consultants LLC purchased a new position in shares of Pebblebrook Hotel Trust in the 2nd quarter worth about $203,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Pebblebrook Hotel Trust in the 2nd quarter worth about $213,000. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Pebblebrook Hotel Trust in the 2nd quarter worth about $219,000. Finally, BB&T Corp purchased a new position in shares of Pebblebrook Hotel Trust in the 2nd quarter worth about $222,000.
Several equities research analysts have commented on the stock. ValuEngine raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Zacks Investment Research raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Saturday, July 28th. Royal Bank of Canada reaffirmed a “buy” rating and set a $40.00 price objective on shares of Pebblebrook Hotel Trust in a report on Wednesday, August 15th. Robert W. Baird set a $38.00 price objective on shares of Pebblebrook Hotel Trust and gave the company a “hold” rating in a report on Wednesday, October 10th. Finally, Bank of America reaffirmed a “buy” rating and set a $36.00 price objective on shares of Pebblebrook Hotel Trust in a report on Monday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.42.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Thursday, September 27th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 59.14%.
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 28 hotels, with a total of 6,973 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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