Pebblebrook Hotel Trust (PEB) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. raised its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 131.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,828 shares of the real estate investment trust’s stock after purchasing an additional 12,970 shares during the period. Prudential Financial Inc.’s holdings in Pebblebrook Hotel Trust were worth $736,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Somerset Trust Co increased its position in Pebblebrook Hotel Trust by 0.6% during the second quarter. Somerset Trust Co now owns 8,495 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 52 shares during the last quarter. First Mercantile Trust Co. increased its position in Pebblebrook Hotel Trust by 1.7% during the second quarter. First Mercantile Trust Co. now owns 3,680 shares of the real estate investment trust’s stock worth $119,000 after purchasing an additional 60 shares during the last quarter. Federated Investors Inc. PA increased its position in Pebblebrook Hotel Trust by 0.9% during the second quarter. Federated Investors Inc. PA now owns 10,114 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 87 shares during the last quarter. GAM Holding AG increased its position in Pebblebrook Hotel Trust by 2.3% during the second quarter. GAM Holding AG now owns 5,892 shares of the real estate investment trust’s stock worth $190,000 after purchasing an additional 134 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Pebblebrook Hotel Trust by 6.0% during the second quarter. SG Americas Securities LLC now owns 4,401 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 249 shares during the last quarter.

Several research firms have issued reports on PEB. BidaskClub upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Stifel Nicolaus boosted their price objective on shares of Pebblebrook Hotel Trust from $30.00 to $31.50 and gave the stock a “hold” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada reiterated a “buy” rating and set a $33.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Friday, June 23rd. TheStreet upgraded shares of Pebblebrook Hotel Trust from a “c+” rating to a “b-” rating in a research note on Thursday, June 22nd. Finally, Barclays PLC reiterated a “buy” rating and set a $35.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $35.06.

COPYRIGHT VIOLATION NOTICE: “Pebblebrook Hotel Trust (PEB) Shares Bought by Prudential Financial Inc.” was originally posted by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international copyright law. The original version of this piece of content can be viewed at https://transcriptdaily.com/2017/10/08/pebblebrook-hotel-trust-peb-shares-bought-by-prudential-financial-inc.html.

Pebblebrook Hotel Trust (NYSE:PEB) opened at 36.12 on Friday. Pebblebrook Hotel Trust has a 52 week low of $23.56 and a 52 week high of $36.38. The stock has a 50 day moving average of $34.04 and a 200 day moving average of $32.06. The stock has a market capitalization of $2.49 billion, a P/E ratio of 131.35 and a beta of 1.26.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.08. Pebblebrook Hotel Trust had a net margin of 5.09% and a return on equity of 2.59%. The company had revenue of $205.72 million for the quarter, compared to analyst estimates of $199.30 million. During the same quarter last year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts predict that Pebblebrook Hotel Trust will post $1.07 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust declared that its board has approved a share buyback plan on Thursday, July 27th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 4.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Thursday, September 28th. Pebblebrook Hotel Trust’s dividend payout ratio is 506.68%.

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.

Want to see what other hedge funds are holding PEB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pebblebrook Hotel Trust (NYSE:PEB).

Institutional Ownership by Quarter for Pebblebrook Hotel Trust (NYSE:PEB)

Receive News & Ratings for Pebblebrook Hotel Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pebblebrook Hotel Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply