Envestnet Asset Management Inc. Increases Stock Holdings in Pebblebrook Hotel Trust (NYSE:PEB)

Envestnet Asset Management Inc. lifted its position in Pebblebrook Hotel Trust (NYSE:PEB) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 580,423 shares of the real estate investment trust’s stock after purchasing an additional 12,155 shares during the quarter. Envestnet Asset Management Inc. owned about 0.48% of Pebblebrook Hotel Trust worth $7,981,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Pebblebrook Hotel Trust in the fourth quarter valued at approximately $8,798,000. Nomura Holdings Inc. grew its position in shares of Pebblebrook Hotel Trust by 44.3% during the fourth quarter. Nomura Holdings Inc. now owns 513,190 shares of the real estate investment trust’s stock worth $8,201,000 after acquiring an additional 157,637 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Pebblebrook Hotel Trust by 166.1% during the second quarter. Victory Capital Management Inc. now owns 80,444 shares of the real estate investment trust’s stock worth $1,106,000 after acquiring an additional 50,210 shares during the last quarter. Choreo LLC purchased a new position in Pebblebrook Hotel Trust in the 2nd quarter valued at $603,000. Finally, SG Americas Securities LLC grew its position in Pebblebrook Hotel Trust by 350.3% in the 1st quarter. SG Americas Securities LLC now owns 56,913 shares of the real estate investment trust’s stock valued at $877,000 after buying an additional 44,273 shares during the last quarter.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 22,000 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $12.21 per share, with a total value of $268,620.00. Following the purchase, the chief executive officer now owns 1,341,284 shares in the company, valued at $16,377,077.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Jon E. Bortz purchased 66,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $11.98 per share, with a total value of $790,680.00. Following the purchase, the chief executive officer now directly owns 1,319,284 shares of the company’s stock, valued at $15,805,022.32. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jon E. Bortz purchased 22,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $12.21 per share, with a total value of $268,620.00. Following the completion of the purchase, the chief executive officer now directly owns 1,341,284 shares in the company, valued at $16,377,077.64. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB stock opened at $13.55 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65. The stock has a 50-day simple moving average of $13.07 and a 200 day simple moving average of $14.01.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.42). Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. The company had revenue of $397.11 million during the quarter, compared to analyst estimates of $396.29 million. During the same quarter last year, the business earned $0.62 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts predict that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -3.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.92.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.