Pebblebrook Hotel Trust (PEB) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,749 shares of the real estate investment trust’s stock after selling 236 shares during the quarter. Amalgamated Bank’s holdings in Pebblebrook Hotel Trust were worth $282,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PEB. Comerica Bank purchased a new position in shares of Pebblebrook Hotel Trust during the 1st quarter valued at approximately $486,000. UBS Asset Management Americas Inc. boosted its stake in shares of Pebblebrook Hotel Trust by 28.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 142,882 shares of the real estate investment trust’s stock valued at $4,174,000 after buying an additional 31,854 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Pebblebrook Hotel Trust during the 1st quarter valued at approximately $296,000. Parametric Portfolio Associates LLC boosted its stake in shares of Pebblebrook Hotel Trust by 8.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 64,801 shares of the real estate investment trust’s stock valued at $1,893,000 after buying an additional 5,191 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Pebblebrook Hotel Trust during the 1st quarter valued at approximately $180,000.

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PEB has been the topic of several research reports. Royal Bank Of Canada reissued a “buy” rating and set a $33.00 price target on shares of Pebblebrook Hotel Trust in a research report on Friday, June 23rd. TheStreet raised Pebblebrook Hotel Trust from a “c+” rating to a “b-” rating in a research report on Thursday, June 22nd. BTIG Research raised Pebblebrook Hotel Trust from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, September 22nd. Raymond James Financial, Inc. reissued an “outperform” rating and set a $35.00 price target (up from $32.00) on shares of Pebblebrook Hotel Trust in a research report on Wednesday, June 28th. Finally, Zacks Investment Research lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $35.06.

Pebblebrook Hotel Trust (NYSE PEB) opened at 36.48 on Thursday. Pebblebrook Hotel Trust has a 1-year low of $23.56 and a 1-year high of $36.86. The company has a market cap of $2.52 billion, a PE ratio of 132.65 and a beta of 1.26. The stock has a 50 day moving average price of $34.44 and a 200 day moving average price of $32.28.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Pebblebrook Hotel Trust had a return on equity of 2.59% and a net margin of 5.09%. The firm had revenue of $205.72 million during the quarter, compared to the consensus estimate of $199.30 million. During the same quarter in the previous year, the company posted $0.81 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts forecast that Pebblebrook Hotel Trust will post $1.07 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.52 annualized dividend and a yield of 4.17%. Pebblebrook Hotel Trust’s payout ratio is 506.68%.

Pebblebrook Hotel Trust announced that its board has authorized a share repurchase program on Thursday, July 27th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the real estate investment trust to reacquire up to 4.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.

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

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