Public Sector Pension Investment Board Has $3.65 Million Stake in Pebblebrook Hotel Trust (NYSE:PEB)

Public Sector Pension Investment Board increased its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 265,153 shares of the real estate investment trust’s stock after purchasing an additional 18,159 shares during the period. Public Sector Pension Investment Board’s holdings in Pebblebrook Hotel Trust were worth $3,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Pebblebrook Hotel Trust by 707.8% in the 2nd quarter. Blue Trust Inc. now owns 11,116 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 9,740 shares during the period. Quadrature Capital Ltd acquired a new stake in Pebblebrook Hotel Trust in the 4th quarter valued at approximately $266,000. Van ECK Associates Corp lifted its stake in Pebblebrook Hotel Trust by 7.1% in the 2nd quarter. Van ECK Associates Corp now owns 18,270 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 1,215 shares in the last quarter. ProShare Advisors LLC boosted its position in Pebblebrook Hotel Trust by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 24,014 shares of the real estate investment trust’s stock worth $370,000 after acquiring an additional 1,661 shares during the last quarter. Finally, Centersquare Investment Management LLC bought a new position in shares of Pebblebrook Hotel Trust during the 1st quarter worth approximately $445,000.

Pebblebrook Hotel Trust Price Performance

Shares of PEB opened at $13.55 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. The company’s fifty day simple moving average is $13.07 and its 200 day simple moving average is $14.03. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -13.28, a PEG ratio of 0.66 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.42). Pebblebrook Hotel Trust had a negative return on equity of 3.40% and a negative net margin of 6.75%. The firm had revenue of $397.11 million for the quarter, compared to analyst estimates of $396.29 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts forecast that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -3.92%.

Insider Buying and Selling

In related news, CEO Jon E. Bortz acquired 22,000 shares of Pebblebrook Hotel Trust stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of $12.21 per share, with a total value of $268,620.00. Following the completion of the transaction, the chief executive officer now directly owns 1,341,284 shares in the company, valued at approximately $16,377,077.64. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Jon E. Bortz purchased 22,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $12.21 per share, with a total value of $268,620.00. Following the acquisition, the chief executive officer now directly owns 1,341,284 shares in the company, valued at $16,377,077.64. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jon E. Bortz acquired 66,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $11.98 per share, with a total value of $790,680.00. Following the acquisition, the chief executive officer now owns 1,319,284 shares of the company’s stock, valued at $15,805,022.32. The disclosure for this purchase can be found here. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PEB. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday. Wells Fargo & Company cut their price target on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, Pebblebrook Hotel Trust has an average rating of “Hold” and an average target price of $13.92.

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.