Renaissance Technologies LLC Decreases Stake in Pebblebrook Hotel Trust (NYSE:PEB)

Renaissance Technologies LLC lessened its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 31.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 249,795 shares of the real estate investment trust’s stock after selling 115,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Pebblebrook Hotel Trust were worth $3,435,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Pebblebrook Hotel Trust by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,747,195 shares of the real estate investment trust’s stock worth $24,023,000 after purchasing an additional 41,659 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Pebblebrook Hotel Trust by 2.1% during the second quarter. Envestnet Asset Management Inc. now owns 580,423 shares of the real estate investment trust’s stock worth $7,981,000 after purchasing an additional 12,155 shares during the last quarter. Norges Bank purchased a new stake in Pebblebrook Hotel Trust during the fourth quarter worth approximately $8,798,000. Nomura Holdings Inc. lifted its stake in Pebblebrook Hotel Trust by 44.3% during the fourth quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock worth $8,201,000 after purchasing an additional 157,637 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Pebblebrook Hotel Trust by 6.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 249,445 shares of the real estate investment trust’s stock worth $3,842,000 after purchasing an additional 15,231 shares during the last quarter.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE PEB opened at $13.55 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a twelve month low of $11.39 and a twelve month high of $16.65. The stock has a 50 day moving average of $13.07 and a two-hundred day moving average of $14.00. The stock has a market cap of $1.63 billion, a P/E ratio of -13.28, a P/E/G ratio of 0.66 and a beta of 1.84.

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

Pebblebrook Hotel Trust Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently weighed in on PEB. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Wells Fargo & Company reduced their price objective on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, Pebblebrook Hotel Trust currently has a consensus rating of “Hold” and a consensus target price of $13.92.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $12.21 per share, with a total value of $268,620.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $12.21 per share, with a total value of $268,620.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon E. Bortz acquired 66,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $11.98 per share, for a total transaction of $790,680.00. Following the acquisition, the chief executive officer now directly 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 currently owned by corporate insiders.

Pebblebrook Hotel Trust 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.