Renaissance Technologies LLC grew its stake in Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) by 30.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 854,100 shares of the real estate investment trust’s stock after buying an additional 200,605 shares during the period. Renaissance Technologies LLC owned approximately 0.65% of Pebblebrook Hotel Trust worth $12,393,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Neo Ivy Capital Management purchased a new stake in shares of Pebblebrook Hotel Trust in the 2nd quarter valued at $50,000. Wipfli Financial Advisors LLC purchased a new stake in shares of Pebblebrook Hotel Trust in the 3rd quarter valued at $64,000. Assetmark Inc. boosted its stake in shares of Pebblebrook Hotel Trust by 91.6% in the 3rd quarter. Assetmark Inc. now owns 4,686 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 2,240 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Pebblebrook Hotel Trust in the 3rd quarter valued at $79,000. Finally, Inspire Advisors LLC purchased a new stake in shares of Pebblebrook Hotel Trust in the 3rd quarter valued at $147,000.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on PEB. TheStreet cut shares of Pebblebrook Hotel Trust from a “c-” rating to a “d+” rating in a research note on Friday, December 30th. Raymond James lowered shares of Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating in a report on Friday, December 9th. Citigroup upped their price target on shares of Pebblebrook Hotel Trust from $15.00 to $16.50 and gave the company a “neutral” rating in a report on Wednesday, February 1st. Wells Fargo & Company lowered their price target on shares of Pebblebrook Hotel Trust from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, February 2nd. Finally, BMO Capital Markets lowered shares of Pebblebrook Hotel Trust from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $20.00 to $18.00 in a report on Friday, December 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.50.
Pebblebrook Hotel Trust Stock Up 1.8 %
Pebblebrook Hotel Trust (NYSE:PEB – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The real estate investment trust reported ($0.34) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.52). Pebblebrook Hotel Trust had a negative return on equity of 2.77% and a negative net margin of 6.26%. The company had revenue of $319.61 million during the quarter, compared to the consensus estimate of $309.55 million. During the same quarter last year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. Equities research analysts expect that Pebblebrook Hotel Trust will post 1.73 EPS for the current year.
Pebblebrook Hotel Trust Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Thursday, December 29th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -4.12%.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a real estate investment trust, engages in investments and acquisitions in hotel properties. Its hotels are located in markets like Atlanta, Georgia, Boston, Massachusetts, Chicago, Illinois, Key West, Miami and Naples, Florida, Los Angeles, San Diego and San Francisco, California, Nashville, Tennessee, New York, New York, Philadelphia, Pennsylvania, Portland, Oregon, and Seattle, Washington.
Further Reading
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