Allianz Asset Management GmbH Buys Shares of 70,971 Pebblebrook Hotel Trust (NYSE:PEB)

Allianz Asset Management GmbH acquired a new stake in shares of Pebblebrook Hotel Trust (NYSE:PEB) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 70,971 shares of the real estate investment trust’s stock, valued at approximately $719,000. Allianz Asset Management GmbH owned about 0.06% of Pebblebrook Hotel Trust as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in Pebblebrook Hotel Trust in the fourth quarter valued at about $306,000. Norges Bank purchased a new stake in shares of Pebblebrook Hotel Trust during the 4th quarter valued at about $843,000. Arrowstreet Capital Limited Partnership increased its position in shares of Pebblebrook Hotel Trust by 82.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,399,856 shares of the real estate investment trust’s stock valued at $18,968,000 after purchasing an additional 633,881 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Pebblebrook Hotel Trust by 3.4% in the 4th quarter. Alliancebernstein L.P. now owns 161,726 shares of the real estate investment trust’s stock worth $2,191,000 after purchasing an additional 5,246 shares during the period. Finally, Centersquare Investment Management LLC boosted its holdings in shares of Pebblebrook Hotel Trust by 2,448.9% in the fourth quarter. Centersquare Investment Management LLC now owns 1,879,327 shares of the real estate investment trust’s stock worth $25,465,000 after buying an additional 1,805,597 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have commented on PEB shares. Truist Financial set a $9.00 target price on shares of Pebblebrook Hotel Trust and gave the company a “hold” rating in a report on Monday, June 2nd. Wedbush set a $9.00 price objective on Pebblebrook Hotel Trust and gave the stock an “underperform” rating in a research note on Tuesday, May 6th. Morgan Stanley reaffirmed an “underweight” rating and issued a $10.00 target price on shares of Pebblebrook Hotel Trust in a report on Tuesday, July 15th. Evercore ISI upped their price target on Pebblebrook Hotel Trust from $11.00 to $12.00 and gave the stock an “in-line” rating in a research report on Monday, July 28th. Finally, Stifel Nicolaus set a $13.00 price objective on Pebblebrook Hotel Trust and gave the stock a “buy” rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.78.

Pebblebrook Hotel Trust Price Performance

NYSE:PEB opened at $9.73 on Friday. The business’s 50-day simple moving average is $9.97 and its two-hundred day simple moving average is $10.54. Pebblebrook Hotel Trust has a 52 week low of $7.41 and a 52 week high of $15.12. The stock has a market cap of $1.15 billion, a PE ratio of -16.78 and a beta of 1.85. The company has a quick ratio of 1.09, a current ratio of 1.31 and a debt-to-equity ratio of 0.82.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.06. Pebblebrook Hotel Trust had a negative return on equity of 1.17% and a negative net margin of 2.20%. The company had revenue of $407.54 million for the quarter, compared to the consensus estimate of $398.77 million. During the same quarter last year, the company earned $0.69 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, analysts forecast that Pebblebrook Hotel Trust will post 1.5 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -8.33%.

About Pebblebrook Hotel Trust

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.