Axa lowered its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 771,540 shares of the real estate investment trust’s stock after selling 18,984 shares during the quarter. Axa owned 1.12% of Pebblebrook Hotel Trust worth $24,875,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Mercantile Trust Co. boosted its holdings in Pebblebrook Hotel Trust by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,680 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 60 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Pebblebrook Hotel Trust by 16.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,336 shares of the real estate investment trust’s stock valued at $126,000 after acquiring an additional 600 shares during the period. SG Americas Securities LLC boosted its holdings in Pebblebrook Hotel Trust by 6.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,401 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 249 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Pebblebrook Hotel Trust during the 1st quarter valued at $180,000. Finally, GAM Holding AG boosted its holdings in Pebblebrook Hotel Trust by 2.3% during the 2nd quarter. GAM Holding AG now owns 5,892 shares of the real estate investment trust’s stock valued at $190,000 after acquiring an additional 134 shares during the period.

A number of brokerages have weighed in on PEB. Royal Bank Of Canada reaffirmed a “buy” rating and set a $33.00 target price on shares of Pebblebrook Hotel Trust in a research report on Friday, June 23rd. ValuEngine raised Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Goldman Sachs Group, Inc. (The) lowered Pebblebrook Hotel Trust from a “neutral” rating to a “sell” rating and decreased their target price for the company from $27.00 to $26.00 in a research report on Wednesday, August 2nd. Zacks Investment Research lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $35.00 target price (up from $32.00) on shares of Pebblebrook Hotel Trust in a research report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Pebblebrook Hotel Trust currently has an average rating of “Hold” and an average target price of $31.92.

Shares of Pebblebrook Hotel Trust (NYSE:PEB) traded up 2.33% during midday trading on Friday, reaching $34.29. The company’s stock had a trading volume of 967,591 shares. The stock’s 50-day moving average is $32.66 and its 200-day moving average is $31.11. Pebblebrook Hotel Trust has a one year low of $23.56 and a one year high of $34.72. The company has a market capitalization of $2.36 billion, a P/E ratio of 124.69 and a beta of 1.24.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 EPS for the quarter, topping the 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 analyst estimates of $199.30 million. During the same period last year, the business posted $0.81 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts expect that Pebblebrook Hotel Trust will post $1.07 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust declared that its board has approved a stock repurchase program on Thursday, July 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the real estate investment trust to purchase up to 4.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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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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