Eagle Asset Management Inc. Grows Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Eagle Asset Management Inc. raised its position in Pebblebrook Hotel Trust (NYSE:PEB) by 32.7% in the second quarter, Holdings Channel reports. The institutional investor owned 530,096 shares of the real estate investment trust’s stock after purchasing an additional 130,721 shares during the period. Eagle Asset Management Inc.’s holdings in Pebblebrook Hotel Trust were worth $12,483,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEB. Price T Rowe Associates Inc. MD grew its position in shares of Pebblebrook Hotel Trust by 20.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,972,980 shares of the real estate investment trust’s stock valued at $145,084,000 after purchasing an additional 1,016,158 shares during the period. Principal Financial Group Inc. grew its position in shares of Pebblebrook Hotel Trust by 46.5% in the second quarter. Principal Financial Group Inc. now owns 2,737,736 shares of the real estate investment trust’s stock valued at $64,473,000 after purchasing an additional 868,437 shares during the period. Capital Growth Management LP acquired a new stake in shares of Pebblebrook Hotel Trust in the first quarter valued at about $19,432,000. Prudential Financial Inc. grew its position in shares of Pebblebrook Hotel Trust by 45.8% in the first quarter. Prudential Financial Inc. now owns 2,235,233 shares of the real estate investment trust’s stock valued at $54,293,000 after purchasing an additional 702,214 shares during the period. Finally, Cbre Clarion Securities LLC acquired a new stake in shares of Pebblebrook Hotel Trust in the first quarter valued at about $15,842,000.

Separately, Robert W. Baird restated a “hold” rating and set a $26.00 price target on shares of Pebblebrook Hotel Trust in a research report on Friday, September 10th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Pebblebrook Hotel Trust currently has a consensus rating of “Buy” and an average price target of $22.67.

Shares of PEB stock opened at $22.70 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.41 and a quick ratio of 1.41. The firm’s 50-day moving average is $21.87 and its two-hundred day moving average is $23.07. Pebblebrook Hotel Trust has a 12 month low of $11.42 and a 12 month high of $26.42. The company has a market capitalization of $2.98 billion, a PE ratio of -6.49 and a beta of 2.04.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Thursday, July 29th. The real estate investment trust reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Pebblebrook Hotel Trust had a negative net margin of 106.05% and a negative return on equity of 12.94%. Sell-side analysts forecast that Pebblebrook Hotel Trust will post -0.46 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Wednesday, September 29th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -2.74%.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust is a real estate investment trust, which engages in the investments and acquisition in hotel properties. Its hotels are located in the markets like: Atlanta, Georgia; Boston, Massachusetts; Chicago, Illinois; Key West, Florida; Miami, Los Angeles, Naples, Nashville, Tennessee; New York, Philadelphia, Pennsylvania; Portland, Oregon; San Diego, California; San Francisco, Seattle, Stevenson, and Washington, DC The company was founded by Jon E.

Further Reading: What is the Beige Book?

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

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