Pebblebrook Hotel Trust (PEB) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in Pebblebrook Hotel Trust (NYSE:PEB) by 13.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,086 shares of the real estate investment trust’s stock after selling 18,839 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Pebblebrook Hotel Trust worth $3,936,000 as of its most recent SEC filing.

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

Pebblebrook Hotel Trust (NYSE:PEB) opened at $36.19 on Friday. The stock has a market capitalization of $2,495.30, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.52 and a beta of 1.21. Pebblebrook Hotel Trust has a twelve month low of $23.56 and a twelve month high of $37.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.31 and a quick ratio of 0.31.

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 (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.49. Pebblebrook Hotel Trust had a net margin of 12.98% and a return on equity of 6.63%. The company had revenue of $201.80 million for the quarter, compared to the consensus estimate of $198.11 million. During the same period in the previous year, the business earned ($0.61) EPS. The company’s revenue was down 3.4% on a year-over-year basis. equities research analysts forecast that Pebblebrook Hotel Trust will post 2.51 EPS for the current fiscal year.

Pebblebrook Hotel Trust announced that its Board of Directors has initiated a stock repurchase plan 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 plans are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.20%. The ex-dividend date was Thursday, September 28th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently 117.83%.

PEB has been the subject of a number of research analyst reports. BTIG Research upgraded Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Friday, September 22nd. ValuEngine upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Janney Montgomery Scott upgraded Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and upped their target price for the stock from $31.00 to $40.00 in a research report on Wednesday, September 27th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $35.00 target price on shares of Pebblebrook Hotel Trust in a research report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $35.94.

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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.

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

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