Oppenheimer Asset Management Inc. Takes $2.44 Million Position in Pebblebrook Hotel Trust $PEB

Oppenheimer Asset Management Inc. bought a new position in Pebblebrook Hotel Trust (NYSE:PEB) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 125,439 shares of the real estate investment trust’s stock, valued at approximately $2,435,000.

Several other hedge funds and other institutional investors have also modified their holdings of PEB. Whittier Trust Co. of Nevada Inc. acquired a new stake in Pebblebrook Hotel Trust in the 1st quarter valued at $34,000. Quadrant Capital Group LLC grew its position in Pebblebrook Hotel Trust by 32.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,220 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 796 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Pebblebrook Hotel Trust during the fourth quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Pebblebrook Hotel Trust by 33.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,465 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 865 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Pebblebrook Hotel Trust by 188.0% during the fourth quarter. Hantz Financial Services Inc. now owns 5,049 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 3,296 shares during the period.

Pebblebrook Hotel Trust Trading Up 0.0%

PEB stock opened at $18.25 on Monday. The business has a fifty day moving average price of $18.63 and a 200 day moving average price of $15.21. Pebblebrook Hotel Trust has a fifty-two week low of $9.88 and a fifty-two week high of $19.93. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -26.46, a P/E/G ratio of 1.25 and a beta of 1.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.34 and a quick ratio of 1.34.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 30th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -5.80%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PEB shares. Wells Fargo & Company boosted their target price on shares of Pebblebrook Hotel Trust from $16.00 to $19.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Zacks Research raised shares of Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, June 15th. Truist Financial increased their target price on shares of Pebblebrook Hotel Trust from $17.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. LADENBURG THALM/SH SH lifted their price target on shares of Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Finally, Morgan Stanley boosted their price target on shares of Pebblebrook Hotel Trust from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.44.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.