Chicago Equity Partners LLC trimmed its holdings in Pebblebrook Hotel Trust (NYSE:PEB) by 23.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,211 shares of the real estate investment trust’s stock after selling 30,385 shares during the quarter. Chicago Equity Partners LLC owned 0.14% of Pebblebrook Hotel Trust worth $3,536,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of PEB. UBS Group AG lifted its holdings in Pebblebrook Hotel Trust by 91.4% in the 1st quarter. UBS Group AG now owns 12,754 shares of the real estate investment trust’s stock valued at $438,000 after acquiring an additional 6,091 shares during the last quarter. Jane Street Group LLC acquired a new stake in Pebblebrook Hotel Trust in the 1st quarter valued at about $254,000. Millennium Management LLC lifted its holdings in Pebblebrook Hotel Trust by 27.3% in the 1st quarter. Millennium Management LLC now owns 28,384 shares of the real estate investment trust’s stock valued at $975,000 after acquiring an additional 6,090 shares during the last quarter. Columbia Partners L L C Investment Management acquired a new stake in Pebblebrook Hotel Trust in the 2nd quarter valued at about $1,314,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Pebblebrook Hotel Trust in the 2nd quarter valued at about $213,000.
PEB stock opened at $34.18 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 0.61. Pebblebrook Hotel Trust has a one year low of $31.05 and a one year high of $41.65. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 2.55 and a beta of 1.19.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Thursday, September 27th. Pebblebrook Hotel Trust’s dividend payout ratio is presently 59.14%.
A number of equities research analysts have weighed in on PEB shares. Zacks Investment Research raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Saturday, July 28th. ValuEngine lowered shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $40.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Wednesday, August 15th. Robert W. Baird set a $38.00 price objective on shares of Pebblebrook Hotel Trust and gave the company a “hold” rating in a research note on Wednesday, October 10th. Finally, Bank of America reaffirmed a “buy” rating and set a $36.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Monday, October 29th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $38.42.
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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 28 hotels, with a total of 6,973 guest rooms. The Company owns hotels located in 9 states and the District of Columbia, including: Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Washington, DC; Coral Gables, Florida; Naples, Florida; Buckhead, Georgia; Boston, Massachusetts; Minneapolis, Minnesota; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.
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