Pebblebrook Hotel Trust (PEB) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 33.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,130 shares of the real estate investment trust’s stock after buying an additional 2,040 shares during the period. State of Alaska Department of Revenue’s holdings in Pebblebrook Hotel Trust were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. GW&K Investment Management LLC raised its position in Pebblebrook Hotel Trust by 40.5% in the second quarter. GW&K Investment Management LLC now owns 881,276 shares of the real estate investment trust’s stock valued at $28,412,000 after buying an additional 254,160 shares during the last quarter. Clearbridge Investments LLC raised its position in Pebblebrook Hotel Trust by 2.0% in the first quarter. Clearbridge Investments LLC now owns 1,650,438 shares of the real estate investment trust’s stock valued at $48,209,000 after buying an additional 32,904 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Pebblebrook Hotel Trust by 0.7% in the first quarter. Public Employees Retirement System of Ohio now owns 82,756 shares of the real estate investment trust’s stock valued at $2,417,000 after buying an additional 615 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Pebblebrook Hotel Trust by 10.0% in the first quarter. Goldman Sachs Group Inc. now owns 6,476,191 shares of the real estate investment trust’s stock valued at $189,169,000 after buying an additional 586,816 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Pebblebrook Hotel Trust by 15.3% in the first quarter. Macquarie Group Ltd. now owns 884,359 shares of the real estate investment trust’s stock valued at $25,832,000 after buying an additional 117,051 shares during the last quarter.

Shares of Pebblebrook Hotel Trust (NYSE PEB) opened at 31.96 on Friday. Pebblebrook Hotel Trust has a 12 month low of $23.56 and a 12 month high of $34.38. The firm has a 50 day moving average of $32.80 and a 200-day moving average of $30.71. The stock has a market capitalization of $2.20 billion, a P/E ratio of 116.22 and a beta of 1.24.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Pebblebrook Hotel Trust had a net margin of 5.09% and a return on equity of 2.59%. The business had revenue of $205.72 million for the quarter, compared to analysts’ expectations of $199.30 million. During the same period in the previous year, the company posted $0.81 earnings per share. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Analysts forecast that Pebblebrook Hotel Trust will post $1.03 earnings per share for the current year.

Pebblebrook Hotel Trust declared that its board has approved a share repurchase program on Thursday, July 27th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 4.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.38 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.76%. Pebblebrook Hotel Trust’s payout ratio is currently 506.68%.

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PEB has been the topic of several recent analyst reports. Goldman Sachs Group, Inc. (The) lowered shares of Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $27.00 to $26.00 in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Boenning Scattergood restated a “hold” rating on shares of Pebblebrook Hotel Trust in a report on Monday, July 31st. Finally, ValuEngine lowered shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.92.

About Pebblebrook Hotel Trust

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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