Nordea Investment Management AB, a Swedish investment management company, has recently reduced its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 26.6% during the second quarter of this year. This information was disclosed in Nordea’s most recent 13F filing with the Securities & Exchange Commission. The filing reveals that the fund owned 208,899 shares of Pebblebrook Hotel Trust after selling 75,660 shares during the quarter. At the end of the second quarter, Nordea’s stake in Pebblebrook Hotel Trust was valued at approximately $2,943,000, representing about 0.17% ownership.
Pebblebrook Hotel Trust is a real estate investment trust (REIT) focused on acquiring and investing primarily in upper upscale and upscale full-service hotels located primarily in large gateway cities and resort destinations across the United States. The REIT owns interests in various properties encompassing nearly 9,000 guest rooms across 14 states.
Following Nordea’s reduction in stake, several analysts have issued reports on Pebblebrook Hotel Trust. Citigroup, for instance, lowered their price target on the company from $16.50 to $15.00 and maintained a “neutral” rating for the stock. Similarly, StockNews.com assumed coverage on Pebblebrook Hotel Trust and assigned a “sell” rating.
With regards to ratings from other analysts, TheStreet upgraded Pebblebrook Hotel Trust from a “d+” rating to a “c” rating last month. Meanwhile, Barclays reduced their price target on the stock from $16.00 to $15.00 but did not alter their rating.
In summary, two equities research analysts have assigned a sell rating to Pebblebrook Hotel Trust stock while six others have issued hold ratings. According to data from Bloomberg.com, there is currently a consensus rating of “Hold” for the company with an average price target of $17.28.
On the New York Stock Exchange (NYSE), Pebblebrook Hotel Trust opened at $13.36 on September 24, 2023. The stock has a fifty-day moving average price of $14.46 and a 200-day moving average price of $14.10. The company boasts a market capitalization of $1.61 billion, a price-to-earnings ratio of -49.48, and a beta of 1.84.
As for its financial standing, Pebblebrook Hotel Trust has a debt-to-equity ratio of 0.80, indicating that it relies slightly more on debt to finance its assets than equity. The company also maintains a quick ratio and current ratio of 0.89 each, suggesting satisfactory liquidity levels.
While the stock currently trades closer to its fifty-two week low of $12.37 rather than its high of $17.38, it remains to be seen how these recent developments will impact Pebblebrook Hotel Trust’s future performance in the highly competitive hospitality industry.
Please note that this article is based on information available as of September 24, 2023, and may not reflect any subsequent developments or changes in the stock’s performance or analyst outlooks.
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Institutional Investors Increase Stake in Pebblebrook Hotel Trust as Financial Reports Provide Insights into Stock Performance
September 24, 2023 – Pebblebrook Hotel Trust (NYSE:PEB) has recently seen changes in its positions from various institutional investors. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in the real estate investment trust’s stock by 10.5% during the first quarter. Great West Life Assurance Co. Can also boosted its stake by 3.7% during the same period.
In addition, Vanguard Group Inc., one of the largest asset management companies, increased its stake in Pebblebrook Hotel Trust by 1.2%, acquiring an additional 226,216 shares during the first quarter. Federated Hermes Inc. also joined the group of institutional investors by boosting its stake in the company’s stock by 5.5%. Finally, XTX Topco Ltd entered the picture and purchased a new position in Pebblebrook Hotel Trust.
Meanwhile, Director Phillip M. Miller sold 10,000 shares of the business’s stock on August 17th at an average price of $14.46 per share, resulting in a total transaction value of $144,600. Following this transaction, Miller now owns 11,657 shares valued at approximately $168,560.22.
Financial analysts have recently issued reports on Pebblebrook Hotel Trust as well. Citigroup reduced their price target for the company from $16.50 to $15.00 and gave it a “neutral” rating in a research note released on July 14th. TheStreet upgraded Pebblebrook Hotel Trust from a “d+” rating to a “c” rating on July 28th.
StockNews.com started covering Pebblebrook Hotel Trust with a “sell” rating on August 17th. Barclays reduced their price target from $16.00 to $15.00 on July 5th and Wells Fargo & Company increased their price target from $14.50 to $15.00 on July 12th. Overall, analysts have given the company a consensus rating of “Hold” with an average price target of $17.28.
Pebblebrook Hotel Trust released its quarterly earnings results on July 27th. The real estate investment trust reported an EPS of $0.24 for the quarter, falling short of analysts’ consensus estimate of $0.56 by $0.32. The company had a return on equity of 0.20% and a net margin of 0.43%. Its revenue for the quarter was $384.34 million, slightly surpassing analyst estimates.
Despite the decline in quarterly revenue compared to the previous year, equities analysts anticipate that Pebblebrook Hotel Trust will post an EPS of 1.56 for the current fiscal year.
Moreover, Pebblebrook Hotel Trust recently announced that it will be paying a quarterly dividend on October 16th to shareholders as at September 29th, with an ex-dividend date set for September 28th. The dividend payout ratio (DPR) is currently -14.81%, reflecting the company’s commitment to returning value to its shareholders.
These recent institutional investor activities and financial reports provide insights into the stock performance and outlook for Pebblebrook Hotel Trust in the real estate investment market.
