Duff & Phelps Investment Management Co. Cuts Stake in Pebblebrook Hotel Trust (PEB)

Duff & Phelps Investment Management Co. lessened its stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 78.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 201,378 shares of the real estate investment trust’s stock after selling 720,450 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.29% of Pebblebrook Hotel Trust worth $7,278,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 156.1% during the 2nd quarter. Principal Financial Group Inc. now owns 2,516,668 shares of the real estate investment trust’s stock worth $81,137,000 after buying an additional 1,533,874 shares during the last quarter. Aperio Group LLC lifted its stake in shares of Pebblebrook Hotel Trust by 12.7% during the 2nd quarter. Aperio Group LLC now owns 11,406 shares of the real estate investment trust’s stock worth $368,000 after buying an additional 1,283 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Pebblebrook Hotel Trust by 33.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,130 shares of the real estate investment trust’s stock worth $261,000 after buying an additional 2,040 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Pebblebrook Hotel Trust by 8.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,410 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 510 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Pebblebrook Hotel Trust by 6.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 736,660 shares of the real estate investment trust’s stock worth $23,750,000 after buying an additional 47,100 shares during the last quarter.

Several brokerages have weighed in on PEB. Zacks Investment Research cut shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Boenning Scattergood reiterated a “hold” rating on shares of Pebblebrook Hotel Trust in a research note on Monday, July 31st. Stifel Nicolaus reiterated a “hold” rating and issued a $31.50 price objective on shares of Pebblebrook Hotel Trust in a research note on Thursday, October 12th. Finally, BidaskClub cut shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $35.94.

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Pebblebrook Hotel Trust (NYSE PEB) opened at 35.69 on Friday. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 129.78 and a beta of 1.26. Pebblebrook Hotel Trust has a 12-month low of $23.56 and a 12-month high of $37.63. The firm has a 50-day moving average of $35.57 and a 200 day moving average of $32.91.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Monday, October 23rd. The real estate investment trust reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.49. The business had revenue of $201.80 million for the quarter, compared to the consensus estimate of $198.11 million. Pebblebrook Hotel Trust had a net margin of 12.98% and a return on equity of 6.63%. Pebblebrook Hotel Trust’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the firm posted ($0.61) earnings per share. Analysts expect that Pebblebrook Hotel Trust will post $1.07 EPS for the current fiscal year.

Pebblebrook Hotel Trust declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 27th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire up to 4.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Thursday, September 28th. Pebblebrook Hotel Trust’s payout ratio is currently 117.83%.

Pebblebrook Hotel Trust Company 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.

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

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