Thrivent Financial for Lutherans increased its position in Pebblebrook Hotel Trust (NYSE:PEB) by 278.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 63,101 shares of the real estate investment trust’s stock after purchasing an additional 46,427 shares during the period. Thrivent Financial for Lutherans owned about 0.09% of Pebblebrook Hotel Trust worth $1,786,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Rehmann Capital Advisory Group bought a new position in Pebblebrook Hotel Trust in the 4th quarter worth $25,000. San Francisco Sentry Investment Group CA bought a new position in Pebblebrook Hotel Trust in the 4th quarter worth $36,000. Oregon Public Employees Retirement Fund bought a new position in Pebblebrook Hotel Trust in the 4th quarter worth $53,000. LSV Asset Management bought a new position in Pebblebrook Hotel Trust in the 4th quarter worth $57,000. Finally, Enlightenment Research LLC bought a new position in Pebblebrook Hotel Trust in the 4th quarter worth $59,000.
Several brokerages recently commented on PEB. Citigroup started coverage on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. They issued a “neutral” rating and a $32.00 target price on the stock. Goldman Sachs Group restated a “sell” rating and set a $26.00 price objective on shares of Pebblebrook Hotel Trust in a report on Thursday, January 10th. ValuEngine downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. TheStreet downgraded shares of Pebblebrook Hotel Trust from a “b-” rating to a “c” rating in a report on Wednesday, February 27th. Finally, Zacks Investment Research downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $36.33.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Monday, February 25th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.23. The business had revenue of $235.64 million for the quarter, compared to analyst estimates of $207.53 million. Pebblebrook Hotel Trust had a net margin of 1.62% and a return on equity of 0.64%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. On average, equities analysts forecast that Pebblebrook Hotel Trust will post 2.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.38 dividend. The ex-dividend date was Thursday, March 28th. This is a positive change from Pebblebrook Hotel Trust’s previous quarterly dividend of $0.25. This represents a $1.52 dividend on an annualized basis and a yield of 4.81%. Pebblebrook Hotel Trust’s payout ratio is 62.04%.
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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