Virginia Retirement Systems ET AL Sells 13,300 Shares of Pebblebrook Hotel Trust (NYSE:PEB)

Virginia Retirement Systems ET AL cut its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 34.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,663 shares of the real estate investment trust’s stock after selling 13,300 shares during the period. Virginia Retirement Systems ET AL’s holdings in Pebblebrook Hotel Trust were worth $723,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Arizona State Retirement System lifted its stake in shares of Pebblebrook Hotel Trust by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 94,812 shares of the real estate investment trust’s stock valued at $2,672,000 after buying an additional 1,092 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Pebblebrook Hotel Trust by 3.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,421,531 shares of the real estate investment trust’s stock worth $180,959,000 after purchasing an additional 195,114 shares in the last quarter. Arden Trust Co purchased a new stake in Pebblebrook Hotel Trust in the 2nd quarter worth approximately $210,000. American Assets Investment Management LLC lifted its stake in Pebblebrook Hotel Trust by 60.0% in the 2nd quarter. American Assets Investment Management LLC now owns 40,000 shares of the real estate investment trust’s stock worth $1,127,000 after purchasing an additional 15,000 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Pebblebrook Hotel Trust by 18.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 50,560 shares of the real estate investment trust’s stock worth $1,423,000 after purchasing an additional 7,936 shares in the last quarter.

Pebblebrook Hotel Trust stock opened at $27.19 on Wednesday. The firm’s fifty day moving average is $27.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market cap of $3.49 billion, a PE ratio of 11.10, a P/E/G ratio of 2.04 and a beta of 1.34. Pebblebrook Hotel Trust has a fifty-two week low of $25.64 and a fifty-two week high of $39.40.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The firm had revenue of $442.08 million for the quarter, compared to analysts’ expectations of $435.37 million. Pebblebrook Hotel Trust had a negative net margin of 0.25% and a negative return on equity of 0.10%. The business’s quarterly revenue was up 114.1% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. On average, equities research analysts forecast that Pebblebrook Hotel Trust will post 2.65 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.52 annualized dividend and a dividend yield of 5.59%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently 62.04%.

Several analysts have issued reports on the stock. Bank of America cut shares of Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $33.00 to $29.00 in a research note on Wednesday, July 17th. BTIG Research lowered their target price on shares of Pebblebrook Hotel Trust from $42.50 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. They noted that the move was a valuation call. Capital One Financial assumed coverage on shares of Pebblebrook Hotel Trust in a research note on Tuesday, June 25th. They issued an “overweight” rating and a $35.00 target price on the stock. SunTrust Banks assumed coverage on shares of Pebblebrook Hotel Trust in a research note on Monday, May 6th. They issued a “hold” rating and a $43.00 target price on the stock. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Pebblebrook Hotel Trust in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $35.33.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust is a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns 61 hotels, totaling approximately 14,600 guest rooms, located in 10 states and the District of Columbia, including: Del Mar, California; Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Santa Cruz, California; Washington, DC; Coral Gables, Florida; Key West, Florida; Naples, Florida; Buckhead, Georgia; Chicago, Illinois; Boston, Massachusetts; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.

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Institutional Ownership by Quarter for Pebblebrook Hotel Trust (NYSE:PEB)

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