Jennison Associates LLC lifted its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 43.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,712,779 shares of the real estate investment trust’s stock after acquiring an additional 516,215 shares during the quarter. Jennison Associates LLC’s holdings in Pebblebrook Hotel Trust were worth $62,294,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Pebblebrook Hotel Trust by 2.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 68,758 shares of the real estate investment trust’s stock worth $2,668,000 after purchasing an additional 1,405 shares during the period. Sigma Planning Corp grew its holdings in shares of Pebblebrook Hotel Trust by 10.5% during the 2nd quarter. Sigma Planning Corp now owns 17,618 shares of the real estate investment trust’s stock worth $684,000 after purchasing an additional 1,672 shares during the period. United Services Automobile Association grew its holdings in shares of Pebblebrook Hotel Trust by 14.0% during the 2nd quarter. United Services Automobile Association now owns 15,381 shares of the real estate investment trust’s stock worth $597,000 after purchasing an additional 1,883 shares during the period. Motley Fool Wealth Management LLC grew its holdings in shares of Pebblebrook Hotel Trust by 2.6% during the 2nd quarter. Motley Fool Wealth Management LLC now owns 74,492 shares of the real estate investment trust’s stock worth $2,890,000 after purchasing an additional 1,910 shares during the period. Finally, Congress Asset Management Co. MA grew its holdings in shares of Pebblebrook Hotel Trust by 8.0% during the 3rd quarter. Congress Asset Management Co. MA now owns 26,718 shares of the real estate investment trust’s stock worth $972,000 after purchasing an additional 1,990 shares during the period.

A number of research firms have recently weighed in on PEB. ValuEngine cut Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Saturday, July 28th. Royal Bank of Canada reiterated a “buy” rating and set a $40.00 price target on shares of Pebblebrook Hotel Trust in a report on Wednesday, August 15th. Stifel Nicolaus upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Monday, November 12th. Finally, Robert W. Baird set a $38.00 price target on Pebblebrook Hotel Trust and gave the stock a “hold” rating in a report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $38.67.

Shares of Pebblebrook Hotel Trust stock opened at $35.50 on Tuesday. Pebblebrook Hotel Trust has a 12 month low of $31.05 and a 12 month high of $41.65. The stock has a market cap of $2.44 billion, a P/E ratio of 13.81, a PEG ratio of 2.69 and a beta of 1.19. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.80 and a quick ratio of 0.80.

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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 28 hotels, with a total of 6,973 guest rooms. The Company owns hotels located in 9 states and the District of Columbia, including: Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Washington, DC; Coral Gables, Florida; Naples, Florida; Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.

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Want to see what other hedge funds are holding PEB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pebblebrook Hotel Trust (NYSE:PEB).

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

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