Teacher Retirement System of Texas lowered its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 8.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 163,483 shares of the real estate investment trust’s stock after selling 14,752 shares during the period. Teacher Retirement System of Texas owned about 0.24% of Pebblebrook Hotel Trust worth $5,271,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Brookfield Asset Management Inc. increased its stake in Pebblebrook Hotel Trust by 3,466.2% in the first quarter. Brookfield Asset Management Inc. now owns 3,551,910 shares of the real estate investment trust’s stock valued at $103,751,000 after buying an additional 3,452,310 shares in the last quarter. Pioneer Investment Management Inc. acquired a new stake in Pebblebrook Hotel Trust during the first quarter valued at about $1,602,000. Waratah Capital Advisors Ltd. increased its stake in Pebblebrook Hotel Trust by 212.5% in the first quarter. Waratah Capital Advisors Ltd. now owns 81,000 shares of the real estate investment trust’s stock valued at $2,366,000 after buying an additional 55,084 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Pebblebrook Hotel Trust by 3.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,549 shares of the real estate investment trust’s stock valued at $337,000 after buying an additional 350 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in Pebblebrook Hotel Trust during the first quarter valued at about $261,000.

Shares of Pebblebrook Hotel Trust (PEB) opened at 32.34 on Wednesday. The company has a market capitalization of $2.23 billion, a P/E ratio of 117.60 and a beta of 1.24. Pebblebrook Hotel Trust has a one year low of $23.56 and a one year high of $34.38. The stock has a 50 day moving average price of $32.76 and a 200-day moving average price of $30.72.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. Pebblebrook Hotel Trust had a return on equity of 2.59% and a net margin of 5.09%. The business had revenue of $205.72 million during the quarter, compared to analysts’ expectations of $199.30 million. During the same period in the prior year, the firm posted $0.81 EPS. Pebblebrook Hotel Trust’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities research analysts predict that Pebblebrook Hotel Trust will post $1.07 earnings per share for the current fiscal year.

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

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.70%. Pebblebrook Hotel Trust’s payout ratio is presently 506.68%.

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PEB has been the topic of several analyst reports. Boenning Scattergood restated a “neutral” rating on shares of Pebblebrook Hotel Trust in a report on Tuesday, April 18th. Royal Bank Of Canada restated a “buy” rating and set a $33.00 price objective on shares of Pebblebrook Hotel Trust in a report on Friday, June 23rd. ValuEngine upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $35.00 price target (up from $32.00) on shares of Pebblebrook Hotel Trust in a report on Wednesday, June 28th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price 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.

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

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