Pebblebrook Hotel Trust (PEB) Sees Large Volume Increase
Pebblebrook Hotel Trust (NYSE:PEB) shares saw strong trading volume on Thursday . 1,738,719 shares traded hands during trading, an increase of 52% from the previous session’s volume of 1,142,991 shares.The stock last traded at $29.99 and had previously closed at $29.97.
A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada dropped their target price on Pebblebrook Hotel Trust from $34.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, May 2nd. Evercore ISI downgraded Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating and lifted their target price for the stock from $27.00 to $30.00 in a report on Wednesday. Stifel Nicolaus reissued a “hold” rating on shares of Pebblebrook Hotel Trust in a report on Tuesday, March 29th. Credit Suisse Group AG downgraded Pebblebrook Hotel Trust from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $30.00 to $29.00 in a report on Thursday. Finally, Bank of America Corp. reissued a “neutral” rating and set a $27.00 target price (down previously from $29.00) on shares of Pebblebrook Hotel Trust in a report on Friday, May 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Pebblebrook Hotel Trust has a consensus rating of “Hold” and a consensus target price of $33.30.
The firm has a market capitalization of $2.24 billion and a PE ratio of 30.52. The company has a 50-day moving average of $26.96 and a 200 day moving average of $26.43.
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 the consensus estimate of $190.78 million. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, analysts forecast that Pebblebrook Hotel Trust will post $2.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $1.52 dividend on an annualized basis and a yield of 4.88%.
In other news, CFO Raymond D. Martz sold 15,848 shares of the stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $25.26, for a total transaction of $400,320.48. Following the completion of the transaction, the chief financial officer now owns 177,526 shares in the company, valued at approximately $4,484,306.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds and institutional investors have recently bought and sold shares of PEB. New York State Common Retirement Fund increased its position in Pebblebrook Hotel Trust by 2.9% in the fourth quarter. New York State Common Retirement Fund now owns 92,081 shares of the real estate investment trust’s stock valued at $2,580,000 after buying an additional 2,598 shares during the last quarter. Rhumbline Advisers increased its position in Pebblebrook Hotel Trust by 1.2% in the fourth quarter. Rhumbline Advisers now owns 111,570 shares of the real estate investment trust’s stock valued at $3,126,000 after buying an additional 1,310 shares during the last quarter. Nationwide Fund Advisors increased its position in Pebblebrook Hotel Trust by 1.4% in the fourth quarter. Nationwide Fund Advisors now owns 55,108 shares of the real estate investment trust’s stock valued at $1,544,000 after buying an additional 739 shares during the last quarter. Vanguard Group Inc. increased its position in 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 valued at $287,341,000 after buying an additional 206,761 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in 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 valued at $4,098,000 after buying an additional 32,622 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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