SG Americas Securities LLC trimmed its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 40.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,324 shares of the real estate investment trust’s stock after selling 27,115 shares during the period. SG Americas Securities LLC’s holdings in Pebblebrook Hotel Trust were worth $1,122,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Pebblebrook Hotel Trust by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 19,436,726 shares of the real estate investment trust’s stock worth $547,726,000 after buying an additional 59,353 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 6.0% in the 2nd quarter. Cohen & Steers Inc. now owns 13,251,868 shares of the real estate investment trust’s stock worth $373,438,000 after purchasing an additional 751,196 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 15.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,382,157 shares of the real estate investment trust’s stock worth $205,371,000 after purchasing an additional 960,626 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Pebblebrook Hotel Trust by 24.5% in the 2nd quarter. Invesco Ltd. now owns 5,276,176 shares of the real estate investment trust’s stock worth $148,683,000 after purchasing an additional 1,039,928 shares in the last quarter. Finally, Heitman Real Estate Securities LLC lifted its holdings in shares of Pebblebrook Hotel Trust by 19.1% in the 2nd quarter. Heitman Real Estate Securities LLC now owns 2,642,288 shares of the real estate investment trust’s stock worth $74,460,000 after purchasing an additional 423,211 shares in the last quarter.
A number of brokerages recently issued reports on PEB. Barclays cut Pebblebrook Hotel Trust from an “overweight” rating to an “underweight” rating and cut their target price for the stock from $32.00 to $26.00 in a report on Monday, November 11th. Stifel Nicolaus set a $31.00 target price on Pebblebrook Hotel Trust and gave the stock a “buy” rating in a report on Friday, October 25th. Wells Fargo & Co cut their target price on Pebblebrook Hotel Trust from $28.00 to $27.00 and set a “market perform” rating on the stock in a report on Friday, October 18th. BTIG Research cut Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating in a report on Thursday, August 15th. Finally, Zacks Investment Research lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Pebblebrook Hotel Trust has a consensus rating of “Hold” and a consensus target price of $31.25.
Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.24). The company had revenue of $423.55 million during the quarter, compared to analysts’ expectations of $422.61 million. Pebblebrook Hotel Trust had a negative net margin of 0.21% and a positive return on equity of 0.16%. The company’s quarterly revenue was up 106.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. As a group, sell-side analysts predict that Pebblebrook Hotel Trust will post 2.59 EPS for the current fiscal year.
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 61 hotels, totaling approximately 14,600 guest rooms, located in 10 states and the District of Columbia, including: 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; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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