Oppenheimer Asset Management Inc. Trims Stock Position in Pebblebrook Hotel Trust (NYSE:PEB)

Oppenheimer Asset Management Inc. lowered its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,394 shares of the real estate investment trust’s stock after selling 2,734 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Pebblebrook Hotel Trust were worth $1,458,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEB. Harvest Fund Management Co. Ltd increased its position in shares of Pebblebrook Hotel Trust by 266.7% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,100 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 800 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Pebblebrook Hotel Trust during the 2nd quarter valued at about $37,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Pebblebrook Hotel Trust by 35.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,220 shares of the real estate investment trust’s stock worth $91,000 after acquiring an additional 844 shares in the last quarter. Arden Trust Co purchased a new stake in Pebblebrook Hotel Trust in the 2nd quarter worth approximately $210,000. Finally, Zeke Capital Advisors LLC increased its holdings in Pebblebrook Hotel Trust by 24.4% in the 3rd quarter. Zeke Capital Advisors LLC now owns 9,475 shares of the real estate investment trust’s stock worth $264,000 after acquiring an additional 1,861 shares in the last quarter.

Pebblebrook Hotel Trust stock opened at $26.71 on Friday. The firm has a 50 day moving average of $26.86 and a 200 day moving average of $28.14. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 2.12 and a beta of 1.30. Pebblebrook Hotel Trust has a 12-month low of $25.45 and a 12-month high of $37.09. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.61.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.24). Pebblebrook Hotel Trust had a positive return on equity of 0.16% and a negative net margin of 0.21%. The business had revenue of $423.55 million during the quarter, compared to the consensus estimate of $422.61 million. During the same quarter in the previous year, the company earned $0.37 earnings per share. The company’s revenue for the quarter was up 106.1% compared to the same quarter last year. On average, analysts predict that Pebblebrook Hotel Trust will post 2.6 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.38 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.52 annualized dividend and a yield of 5.69%. Pebblebrook Hotel Trust’s payout ratio is 62.04%.

PEB has been the subject of several analyst reports. Wells Fargo & Co reduced their target price on shares of Pebblebrook Hotel Trust from $28.00 to $27.00 and set a “market perform” rating for the company in a report on Friday, October 18th. BTIG Research lowered shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating in a report on Thursday, August 15th. BMO Capital Markets reissued a “hold” rating and issued a $28.00 target price on shares of Pebblebrook Hotel Trust in a report on Monday, October 28th. Raymond James reduced their target price on shares of Pebblebrook Hotel Trust from $33.00 to $31.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, Zacks Investment Research lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Pebblebrook Hotel Trust presently has an average rating of “Hold” and an average target price of $32.25.

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 61 hotels, totaling approximately 14,600 guest rooms, located in 10 states and the District of Columbia, including: Del Mar, California; Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Santa Cruz, California; Washington, DC; Coral Gables, Florida; Key West, Florida; Naples, Florida; Buckhead, Georgia; Chicago, Illinois; Boston, Massachusetts; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.

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

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