Pebblebrook Hotel Trust (NYSE:PEB) Stock Position Lessened by Millennium Management LLC

Millennium Management LLC decreased its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,492,567 shares of the real estate investment trust’s stock after selling 227,902 shares during the quarter. Millennium Management LLC’s holdings in Pebblebrook Hotel Trust were worth $20,224,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Quadrant Capital Group LLC increased its stake in Pebblebrook Hotel Trust by 100.2% in the 4th quarter. Quadrant Capital Group LLC now owns 2,644 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 1,323 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of Pebblebrook Hotel Trust by 815.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,763 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 3,352 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new stake in shares of Pebblebrook Hotel Trust during the 4th quarter worth about $136,000. Algert Global LLC purchased a new stake in shares of Pebblebrook Hotel Trust during the 4th quarter worth about $148,000. Finally, Cibc World Markets Corp bought a new position in shares of Pebblebrook Hotel Trust in the 4th quarter valued at approximately $151,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEB. Raymond James set a $14.00 price objective on Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research note on Thursday, February 27th. Compass Point lowered Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $17.00 to $15.00 in a report on Monday, March 10th. StockNews.com lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their price target on Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Evercore ISI reduced their price objective on Pebblebrook Hotel Trust from $15.00 to $11.00 and set an “in-line” rating on the stock in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.78.

Pebblebrook Hotel Trust Stock Down 3.3%

Shares of Pebblebrook Hotel Trust stock opened at $9.62 on Wednesday. Pebblebrook Hotel Trust has a 1 year low of $7.41 and a 1 year high of $15.33. The business has a 50-day moving average of $9.47 and a two-hundred day moving average of $11.84. The company has a market capitalization of $1.14 billion, a P/E ratio of -33.17, a price-to-earnings-growth ratio of 0.60 and a beta of 1.80. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. Pebblebrook Hotel Trust had a return on equity of 0.13% and a net margin of 0.25%. The company had revenue of $320.27 million during the quarter, compared to the consensus estimate of $311.74 million. During the same period in the prior year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that Pebblebrook Hotel Trust will post 1.5 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.42%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -8.33%.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.