Teachers Insurance & Annuity Association of America reduced its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 9.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,431 shares of the real estate investment trust’s stock after selling 7,384 shares during the quarter. Teachers Insurance & Annuity Association of America owned approximately 0.10% of Pebblebrook Hotel Trust worth $2,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PEB. First Mercantile Trust Co. boosted its stake in shares of Pebblebrook Hotel Trust by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,680 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 60 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Pebblebrook Hotel Trust by 16.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 600 shares during the period. SG Americas Securities LLC boosted its stake in shares of Pebblebrook Hotel Trust by 6.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,401 shares of the real estate investment trust’s stock worth $142,000 after acquiring an additional 249 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Pebblebrook Hotel Trust during the 1st quarter worth approximately $180,000. Finally, GAM Holding AG boosted its stake in shares of Pebblebrook Hotel Trust by 2.3% during the 2nd quarter. GAM Holding AG now owns 5,892 shares of the real estate investment trust’s stock worth $190,000 after acquiring an additional 134 shares during the period.

Shares of Pebblebrook Hotel Trust (PEB) opened at 34.21 on Wednesday. Pebblebrook Hotel Trust has a 12-month low of $23.56 and a 12-month high of $34.93. The company’s 50-day moving average price is $33.00 and its 200 day moving average price is $31.42. The firm has a market capitalization of $2.36 billion, a PE ratio of 124.40 and a beta of 1.24.

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

Pebblebrook Hotel Trust declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the real estate investment trust to purchase up to 4.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.47%. The ex-dividend date is Thursday, September 28th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is 506.68%.

Several research analysts have recently commented on the company. TheStreet upgraded Pebblebrook Hotel Trust from a “c+” rating to a “b-” rating in a research note on Thursday, June 22nd. BidaskClub downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) cut Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $27.00 to $26.00 in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $33.00 price target on shares of Pebblebrook Hotel Trust in a report on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.92.

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Pebblebrook Hotel Trust Profile

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.

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

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