Pebblebrook Hotel Trust (NYSE:PEB) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 7,600,000 shares, a drop of 11.5% from the September 30th total of 8,590,000 shares. Currently, 5.9% of the shares of the stock are sold short. Based on an average daily volume of 971,900 shares, the days-to-cover ratio is presently 7.8 days.
A number of hedge funds have recently bought and sold shares of PEB. Invesco Ltd. increased its stake in 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 buying an additional 1,039,928 shares during the period. Nuveen Asset Management LLC increased its stake in Pebblebrook Hotel Trust by 74.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,417,541 shares of the real estate investment trust’s stock worth $68,127,000 after buying an additional 1,033,714 shares during the period. Balyasny Asset Management LLC increased its stake in Pebblebrook Hotel Trust by 433.6% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,233,644 shares of the real estate investment trust’s stock worth $34,764,000 after buying an additional 1,002,453 shares during the period. Daiwa Securities Group Inc. increased its stake in 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 buying an additional 960,626 shares during the period. Finally, Cohen & Steers Inc. increased its stake in 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 buying an additional 751,196 shares during the period.
PEB has been the subject of several research reports. Zacks Investment Research lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Raymond James lowered their price objective on shares of Pebblebrook Hotel Trust from $33.00 to $31.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. BMO Capital Markets reiterated a “hold” rating and set a $28.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Monday, October 28th. Stifel Nicolaus set a $31.00 price objective on shares of Pebblebrook Hotel Trust and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Co lowered their price objective on shares of Pebblebrook Hotel Trust from $28.00 to $27.00 and set a “market perform” rating for the company in a research report on Friday, October 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.25.
Shares of Pebblebrook Hotel Trust stock traded up $0.01 during trading on Monday, hitting $25.57. The stock had a trading volume of 88,679 shares, compared to its average volume of 1,198,438. The firm’s fifty day simple moving average is $26.55 and its 200-day simple moving average is $27.94. The stock has a market cap of $3.31 billion, a PE ratio of 10.42, a PEG ratio of 1.96 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.24 and a quick ratio of 0.24. Pebblebrook Hotel Trust has a 12 month low of $24.51 and a 12 month high of $37.09.
Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.24). The firm had revenue of $423.55 million during the quarter, compared to the consensus estimate of $422.61 million. Pebblebrook Hotel Trust had a positive return on equity of 0.16% and a negative net margin of 0.21%. Pebblebrook Hotel Trust’s revenue was up 106.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. Analysts expect that Pebblebrook Hotel Trust will post 2.59 earnings per share 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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