Bank of New York Mellon Corp Sells 38,792 Shares of Pebblebrook Hotel Trust $PEB

Bank of New York Mellon Corp decreased its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 4.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 939,176 shares of the real estate investment trust’s stock after selling 38,792 shares during the period. Bank of New York Mellon Corp’s holdings in Pebblebrook Hotel Trust were worth $11,862,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PEB. Quadrant Capital Group LLC boosted its holdings in shares of Pebblebrook Hotel Trust by 32.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,220 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 796 shares in the last quarter. Amundi grew its position in shares of Pebblebrook Hotel Trust by 1.1% during the 4th quarter. Amundi now owns 81,472 shares of the real estate investment trust’s stock worth $922,000 after buying an additional 857 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Pebblebrook Hotel Trust by 33.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,465 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 865 shares in the last quarter. Inspire Investing LLC increased its stake in shares of Pebblebrook Hotel Trust by 4.9% in the 4th quarter. Inspire Investing LLC now owns 41,478 shares of the real estate investment trust’s stock valued at $470,000 after acquiring an additional 1,931 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its stake in shares of Pebblebrook Hotel Trust by 26.7% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 9,346 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 1,972 shares in the last quarter.

Pebblebrook Hotel Trust Stock Performance

Shares of Pebblebrook Hotel Trust stock opened at $19.10 on Friday. Pebblebrook Hotel Trust has a 52 week low of $9.30 and a 52 week high of $19.93. The company has a quick ratio of 1.04, a current ratio of 1.34 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average price of $18.09 and a 200-day moving average price of $14.75. The company has a market cap of $2.16 billion, a PE ratio of -27.68, a price-to-earnings-growth ratio of 1.29 and a beta of 1.39.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.05. Pebblebrook Hotel Trust had a negative return on equity of 1.83% and a negative net margin of 3.11%.The company had revenue of $345.66 million for the quarter, compared to analysts’ expectations of $331.23 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Pebblebrook Hotel Trust’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that Pebblebrook Hotel Trust will post 1.61 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.04 annualized dividend and a yield of 0.2%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -5.80%.

Analysts Set New Price Targets

Several research analysts recently issued reports on PEB shares. LADENBURG THALM/SH SH increased their target price on shares of Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays lifted their price target on shares of Pebblebrook Hotel Trust from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Tuesday, July 21st. BMO Capital Markets reiterated a “market perform” rating and set a $17.00 price objective on shares of Pebblebrook Hotel Trust in a report on Friday, June 12th. Stifel Nicolaus increased their price objective on shares of Pebblebrook Hotel Trust from $20.25 to $21.25 and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley raised their target price on Pebblebrook Hotel Trust from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and an average target price of $17.13.

Key Headlines Impacting Pebblebrook Hotel Trust

Here are the key news stories impacting Pebblebrook Hotel Trust this week:

• Positive Sentiment: Stifel raises target and keeps a Buy rating: Stifel Nicolaus lifted its price target from $20.25 to $21.25, implying additional upside and reinforcing its positive view of Pebblebrook’s outlook. Benzinga analyst price-target update
• Positive Sentiment: Ladenburg raises target: Ladenburg Thalmann increased its price target from $19.00 to $21.00. Although its rating remains Neutral, the higher target suggests improved expectations for the hotel real estate investment trust. Benzinga analyst price-target update
• Positive Sentiment: Second-quarter results and outlook attract attention: Coverage of Pebblebrook’s Q2 earnings and conference call highlighted a resilient upswing, while comparisons with estimates are giving investors additional detail on the company’s operating performance. The company’s latest reported results included revenue above expectations and an adjusted loss narrower than analysts anticipated. TipRanks earnings-call report Zacks Q2 earnings analysis
• Neutral Sentiment: Analyst consensus remains cautious: Pebblebrook receives an average “Hold” recommendation, indicating that the improved price targets have not yet translated into broad-based conviction among analysts. American Banking News analyst consensus

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.