Pebblebrook Hotel Trust (NYSE:PEB) shares rose 1.8% during trading on Friday . The stock traded as high as $28.22 and last traded at $28.17, with a volume of 255,527 shares trading hands. The stock had previously closed at $27.68.

PEB has been the subject of several recent research reports. Credit Suisse Group AG reissued an “outperform” rating and set a $30.00 price target (up from $28.00) on shares of Pebblebrook Hotel Trust in a research report on Wednesday, March 23rd. TheStreet raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Monday, July 11th. Janney Montgomery Scott initiated coverage on Pebblebrook Hotel Trust in a research report on Monday, May 23rd. They set a “neutral” rating and a $24.00 price target for the company. Bank of America Corp. reissued a “neutral” rating and set a $27.00 price target (down from $29.00) on shares of Pebblebrook Hotel Trust in a research report on Friday, May 20th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Pebblebrook Hotel Trust in a research report on Tuesday, March 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.40.

The firm has a market capitalization of $2.07 billion and a P/E ratio of 28.22. The stock’s 50 day moving average price is $26.32 and its 200-day moving average price is $26.34.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.10. The business earned $196.20 million during the quarter, compared to analyst estimates of $190.78 million. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.34 earnings per share. Equities analysts anticipate that Pebblebrook Hotel Trust will post $2.77 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend was Tuesday, June 28th.

In related news, CFO Raymond D. Martz sold 15,848 shares of the business’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $25.26, for a total value of $400,320.48. Following the completion of the sale, the chief financial officer now directly owns 177,526 shares of the company’s stock, valued at approximately $4,484,306.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Other hedge funds have recently modified their holdings of the company. Eagle Asset Management raised its stake in shares of Pebblebrook Hotel Trust by 138.7% in the third quarter. Eagle Asset Management now owns 1,099,012 shares of the real estate investment trust’s stock worth $38,960,000 after buying an additional 638,534 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Pebblebrook Hotel Trust by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 10,254,858 shares of the real estate investment trust’s stock worth $287,341,000 after buying an additional 206,761 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Pebblebrook Hotel Trust by 28.7% in the fourth quarter. Teacher Retirement System of Texas now owns 146,245 shares of the real estate investment trust’s stock worth $4,098,000 after buying an additional 32,622 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Pebblebrook Hotel Trust by 1.9% in the fourth quarter. Jennison Associates LLC now owns 1,585,869 shares of the real estate investment trust’s stock worth $44,436,000 after buying an additional 29,515 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Pebblebrook Hotel Trust by 40.4% in the fourth quarter. Morgan Stanley now owns 84,076 shares of the real estate investment trust’s stock worth $2,356,000 after buying an additional 24,179 shares during the last quarter.

Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is engaged in acquiring and investing in hotel properties located primarily in cities of the United States. It owns interests in around 35 hotels, including 29 wholly owned hotels with a total of 6,948 guest rooms and a 49% joint venture interest in six hotels with a total of 1,775 guest rooms.

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