Allianz Asset Management GmbH Grows Stock Position in Pebblebrook Hotel Trust $PEB

Allianz Asset Management GmbH raised its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 108.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 707,913 shares of the real estate investment trust’s stock after acquiring an additional 368,681 shares during the period. Allianz Asset Management GmbH owned approximately 0.60% of Pebblebrook Hotel Trust worth $8,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in Pebblebrook Hotel Trust by 115.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,683 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 2,507 shares during the last quarter. AdvisorShares Investments LLC boosted its position in shares of Pebblebrook Hotel Trust by 52.4% during the second quarter. AdvisorShares Investments LLC now owns 7,621 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 2,621 shares during the period. M&T Bank Corp bought a new position in shares of Pebblebrook Hotel Trust during the second quarter valued at approximately $116,000. Diametric Capital LP bought a new position in shares of Pebblebrook Hotel Trust during the second quarter valued at approximately $164,000. Finally, Creative Planning purchased a new stake in shares of Pebblebrook Hotel Trust in the second quarter worth approximately $176,000.

Pebblebrook Hotel Trust Trading Up 0.3%

NYSE PEB opened at $12.42 on Tuesday. Pebblebrook Hotel Trust has a one year low of $7.41 and a one year high of $12.95. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -10.44 and a beta of 1.54. The company’s 50-day simple moving average is $11.64 and its two-hundred day simple moving average is $11.14.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a $0.01 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -3.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PEB shares. Barclays started coverage on Pebblebrook Hotel Trust in a report on Tuesday, January 6th. They set an “underweight” rating and a $10.00 price objective for the company. Robert W. Baird set a $15.00 target price on shares of Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research note on Monday, January 12th. Morgan Stanley set a $9.00 price target on shares of Pebblebrook Hotel Trust in a research note on Wednesday, October 22nd. Stifel Nicolaus set a $13.50 price objective on shares of Pebblebrook Hotel Trust in a research report on Thursday, November 6th. Finally, Zacks Research downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $12.08.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.