Emerald Acquisition Ltd. Buys 188,596 Shares of Pebblebrook Hotel Trust (PEB)
Emerald Acquisition Ltd. boosted its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 66.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 471,079 shares of the real estate investment trust’s stock after buying an additional 188,596 shares during the period. Emerald Acquisition Ltd.’s holdings in Pebblebrook Hotel Trust were worth $12,507,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of PEB. Acrospire Investment Management LLC boosted its position in shares of Pebblebrook Hotel Trust by 47.5% in the second quarter. Acrospire Investment Management LLC now owns 4,035 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 1,300 shares during the period. Amica Pension Fund Board of Trustees purchased a new position in shares of Pebblebrook Hotel Trust during the third quarter valued at about $128,000. Bessemer Group Inc. boosted its position in shares of Pebblebrook Hotel Trust by 150.9% in the second quarter. Bessemer Group Inc. now owns 5,463 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 3,286 shares during the period. Amica Mutual Insurance Co. purchased a new position in shares of Pebblebrook Hotel Trust during the third quarter valued at about $160,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Pebblebrook Hotel Trust by 12.3% in the third quarter. Nisa Investment Advisors LLC now owns 6,400 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 700 shares during the period.
Shares of Pebblebrook Hotel Trust (NYSE:PEB) opened at 28.86 on Friday. The company’s 50-day moving average price is $29.72 and its 200-day moving average price is $28.19. Pebblebrook Hotel Trust has a 52-week low of $20.51 and a 52-week high of $31.85. The firm has a market cap of $2.08 billion, a PE ratio of 43.07 and a beta of 1.32.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Friday, October 28th. The real estate investment trust reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. The company earned $208.90 million during the quarter, compared to analysts’ expectations of $215.05 million. Pebblebrook Hotel Trust had a net margin of 9.65% and a return on equity of 4.67%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. Equities analysts expect that Pebblebrook Hotel Trust will post $0.66 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Wednesday, December 28th. Pebblebrook Hotel Trust’s payout ratio is 226.87%.
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A number of brokerages recently issued reports on PEB. Barclays PLC set a $30.00 target price on Pebblebrook Hotel Trust and gave the stock a “buy” rating in a report on Wednesday, November 23rd. TheStreet cut Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a report on Thursday, November 17th. Stifel Nicolaus restated a “hold” rating and issued a $28.00 target price (up from $26.00) on shares of Pebblebrook Hotel Trust in a report on Friday, December 23rd. Finally, Zacks Investment Research cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, January 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $29.56.
In related news, Chairman Jon E. Bortz sold 43,424 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $28.52, for a total value of $1,238,452.48. Following the completion of the sale, the chairman now owns 683,729 shares in the company, valued at approximately $19,499,951.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ron E. Jackson sold 4,000 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $23.98, for a total transaction of $95,920.00. Following the completion of the sale, the director now owns 28,297 shares of the company’s stock, valued at approximately $678,562.06. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Pebblebrook Hotel Trust Company Profile
Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is organized to acquire and invest in hotel properties located primarily in cities of the United States. The Company has interests in approximately 40 hotels, including over 30 owned hotels with a total of approximately 7,410 guest rooms, and approximately 49% joint venture interest in over six hotels with a total of approximately 1,790 guest rooms.
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