Duff & Phelps Investment Management Co. Has $29.72 Million Stake in Pebblebrook Hotel Trust (PEB)
Duff & Phelps Investment Management Co. cut its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 921,828 shares of the real estate investment trust’s stock after selling 3,450 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Pebblebrook Hotel Trust were worth $29,720,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of PEB. Envestnet Asset Management Inc. boosted its stake in shares of Pebblebrook Hotel Trust by 16.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 600 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Pebblebrook Hotel Trust during the first quarter valued at $180,000. Nisa Investment Advisors LLC boosted its stake in shares of 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 valued at $200,000 after buying an additional 510 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Pebblebrook Hotel Trust during the first quarter valued at $232,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Pebblebrook Hotel Trust during the first quarter valued at $261,000.
Pebblebrook Hotel Trust (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 market capitalization of $2.20 billion, a PE ratio of 116.22 and a beta of 1.24. The stock has a 50 day moving average of $32.80 and a 200 day moving average of $30.71.
Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 earnings per share (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 firm had revenue of $205.72 million for the quarter, compared to the consensus estimate of $199.30 million. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities analysts predict that Pebblebrook Hotel Trust will post $1.03 earnings per share for the current fiscal year.
Pebblebrook Hotel Trust announced that its Board of Directors has initiated a share 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 purchase up to 4.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend was Wednesday, June 28th. Pebblebrook Hotel Trust’s payout ratio is 506.68%.
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Several brokerages have weighed in on PEB. TheStreet upgraded shares of Pebblebrook Hotel Trust from a “c+” rating to a “b-” rating in a research note on Thursday, June 22nd. BidaskClub cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded shares of Pebblebrook Hotel Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) cut shares of Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $27.00 to $26.00 in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $33.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $31.92.
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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