Sumitomo Mitsui Trust Group Inc. Sells 1,110 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,877 shares of the real estate investment trust’s stock after selling 1,110 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.11% of Pebblebrook Hotel Trust worth $1,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PEB. SG Americas Securities LLC bought a new stake in shares of Pebblebrook Hotel Trust in the 1st quarter worth approximately $510,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Pebblebrook Hotel Trust in the 4th quarter worth approximately $166,000. Nuveen Asset Management LLC raised its holdings in shares of Pebblebrook Hotel Trust by 82.3% in the 4th quarter. Nuveen Asset Management LLC now owns 2,345,333 shares of the real estate investment trust’s stock worth $31,779,000 after purchasing an additional 1,058,664 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Pebblebrook Hotel Trust by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,713,156 shares of the real estate investment trust’s stock worth $90,964,000 after purchasing an additional 525,991 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Pebblebrook Hotel Trust by 3.4% in the 4th quarter. Alliancebernstein L.P. now owns 161,726 shares of the real estate investment trust’s stock worth $2,191,000 after purchasing an additional 5,246 shares during the period.

Analysts Set New Price Targets

PEB has been the topic of a number of research reports. Evercore ISI lowered their price target on shares of Pebblebrook Hotel Trust from $15.00 to $11.00 and set an “in-line” rating on the stock in a report on Monday, April 28th. Stifel Nicolaus lowered their price target on shares of Pebblebrook Hotel Trust from $16.50 to $13.25 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company reaffirmed a “negative” rating on shares of Pebblebrook Hotel Trust in a report on Tuesday. Wedbush set a $9.00 price target on shares of Pebblebrook Hotel Trust and gave the stock an “underperform” rating in a report on Tuesday, May 6th. Finally, Compass Point lowered shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $17.00 to $15.00 in a research note on Monday, March 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.91.

Pebblebrook Hotel Trust Stock Up 1.2%

Pebblebrook Hotel Trust stock opened at $10.66 on Friday. Pebblebrook Hotel Trust has a 1-year low of $7.41 and a 1-year high of $15.12. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -22.21 and a beta of 1.75. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.82. The firm has a 50 day simple moving average of $9.55 and a 200 day simple moving average of $10.94.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $320.27 million during the quarter, compared to analyst estimates of $311.74 million. Pebblebrook Hotel Trust had a negative net margin of 0.61% and a negative return on equity of 0.32%. Pebblebrook Hotel Trust’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. On average, analysts predict that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -8.33%.

Pebblebrook Hotel Trust Company Profile

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.