Pictet Asset Management SA Has $538,000 Stake in Pebblebrook Hotel Trust (NYSE:PEB)

Pictet Asset Management SA lowered its position in Pebblebrook Hotel Trust (NYSE:PEB) by 31.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,341 shares of the real estate investment trust’s stock after selling 17,845 shares during the period. Pictet Asset Management SA’s holdings in Pebblebrook Hotel Trust were worth $538,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PEB. Versant Capital Management Inc bought a new position in Pebblebrook Hotel Trust in the 1st quarter worth approximately $28,000. Ronald Blue Trust Inc. grew its holdings in shares of Pebblebrook Hotel Trust by 429.6% in the 1st quarter. Ronald Blue Trust Inc. now owns 2,092 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 1,697 shares during the period. Assetmark Inc. boosted its stake in Pebblebrook Hotel Trust by 27.2% in the 4th quarter. Assetmark Inc. now owns 5,959 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 1,273 shares during the period. PNC Financial Services Group Inc. boosted its stake in Pebblebrook Hotel Trust by 11.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,653 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 1,199 shares during the period. Finally, Captrust Financial Advisors acquired a new position in Pebblebrook Hotel Trust in the 2nd quarter worth $176,000.

Insider Activity

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 3,632 shares of Pebblebrook Hotel Trust stock in a transaction dated Thursday, June 22nd. The stock was purchased at an average cost of $12.69 per share, for a total transaction of $46,090.08. Following the completion of the acquisition, the chief executive officer now directly owns 1,165,102 shares of the company’s stock, valued at $14,785,144.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 3,632 shares of Pebblebrook Hotel Trust stock in a transaction dated Thursday, June 22nd. The stock was purchased at an average cost of $12.69 per share, for a total transaction of $46,090.08. Following the completion of the acquisition, the chief executive officer now directly owns 1,165,102 shares of the company’s stock, valued at $14,785,144.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Phillip M. Miller sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $14.46, for a total transaction of $144,600.00. Following the transaction, the director now owns 11,657 shares in the company, valued at $168,560.22. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PEB shares. Wells Fargo & Company upped their target price on shares of Pebblebrook Hotel Trust from $14.50 to $15.00 in a research note on Wednesday, July 12th. Morgan Stanley cut their price target on shares of Pebblebrook Hotel Trust from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday. TheStreet raised shares of Pebblebrook Hotel Trust from a “d+” rating to a “c” rating in a research report on Friday, July 28th. Barclays cut their price target on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 in a research report on Wednesday, July 5th. Finally, Citigroup cut their price target on shares of Pebblebrook Hotel Trust from $16.50 to $15.00 and set a “neutral” rating on the stock in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.28.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE PEB opened at $14.31 on Tuesday. Pebblebrook Hotel Trust has a twelve month low of $12.37 and a twelve month high of $18.81. The firm has a fifty day simple moving average of $14.21 and a 200 day simple moving average of $14.17. The company has a market capitalization of $1.72 billion, a PE ratio of -53.00, a P/E/G ratio of 0.63 and a beta of 1.83. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.80.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32). Pebblebrook Hotel Trust had a return on equity of 0.20% and a net margin of 0.43%. The firm had revenue of $384.34 million for the quarter, compared to the consensus estimate of $382.65 million. During the same period in the prior year, the business earned $0.72 EPS. Pebblebrook Hotel Trust’s quarterly revenue was down 3.3% on a year-over-year basis. On average, sell-side analysts forecast that Pebblebrook Hotel Trust will post 1.55 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Thursday, June 29th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -14.81%.

Pebblebrook Hotel Trust 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.