GW&K Investment Management LLC increased its holdings in shares of Pebblebrook Hotel Trust (NYSE:PEB) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 723,444 shares of the real estate investment trust’s stock after purchasing an additional 55,375 shares during the period. GW&K Investment Management LLC owned approximately 0.55% of Pebblebrook Hotel Trust worth $20,126,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new position in shares of Pebblebrook Hotel Trust during the 2nd quarter valued at about $1,463,000. 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 valued at $1,127,000 after acquiring an additional 15,000 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Pebblebrook Hotel Trust by 6.0% in the 2nd quarter. Cohen & Steers Inc. now owns 13,251,868 shares of the real estate investment trust’s stock valued at $373,438,000 after acquiring an additional 751,196 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Pebblebrook Hotel Trust by 8.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 68,848 shares of the real estate investment trust’s stock valued at $1,940,000 after acquiring an additional 5,534 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Pebblebrook Hotel Trust by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 19,436,726 shares of the real estate investment trust’s stock valued at $547,726,000 after acquiring an additional 59,353 shares in the last quarter.
Shares of Pebblebrook Hotel Trust stock traded down $0.23 on Tuesday, reaching $25.22. 314,693 shares of the company were exchanged, compared to its average volume of 1,041,025. Pebblebrook Hotel Trust has a one year low of $25.25 and a one year high of $37.09. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.04 and a beta of 1.30. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $26.78 and a 200 day moving average of $28.08.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date was Friday, September 27th. Pebblebrook Hotel Trust’s dividend payout ratio is 62.04%.
Several research firms have commented on PEB. BMO Capital Markets restated a “hold” rating and issued a $28.00 target price on shares of Pebblebrook Hotel Trust in a research note on Monday, October 28th. Raymond James cut their target price on Pebblebrook Hotel Trust from $33.00 to $31.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. BTIG Research cut Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating in a research note on Thursday, August 15th. Barclays cut Pebblebrook Hotel Trust from an “overweight” rating to an “underweight” rating and cut their target price for the company from $32.00 to $26.00 in a research note on Monday. Finally, Wells Fargo & Co dropped their price objective on Pebblebrook Hotel Trust from $28.00 to $27.00 and set a “market perform” rating on the stock in a research note on Friday, October 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Pebblebrook Hotel Trust has a consensus rating of “Hold” and an average price target of $31.25.
Pebblebrook Hotel Trust Profile
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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