JPMorgan Chase & Co. Has $132.16 Million Stake in Pebblebrook Hotel Trust (NYSE:PEB)

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JPMorgan Chase & Co. grew its stake in Pebblebrook Hotel Trust (NYSE:PEB) by 89.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,255,033 shares of the real estate investment trust’s stock after buying an additional 2,004,224 shares during the quarter. JPMorgan Chase & Co. owned 3.26% of Pebblebrook Hotel Trust worth $132,161,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Teachers Advisors LLC lifted its position in Pebblebrook Hotel Trust by 51.9% during the third quarter. Teachers Advisors LLC now owns 920,503 shares of the real estate investment trust’s stock worth $33,479,000 after purchasing an additional 314,484 shares during the period. Virtu Financial LLC acquired a new position in shares of Pebblebrook Hotel Trust in the fourth quarter valued at approximately $264,000. Meeder Asset Management Inc. increased its stake in shares of Pebblebrook Hotel Trust by 473.6% in the fourth quarter. Meeder Asset Management Inc. now owns 5,352 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 4,419 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Pebblebrook Hotel Trust by 862.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 56,769 shares of the real estate investment trust’s stock valued at $1,607,000 after buying an additional 50,869 shares during the period. Finally, Strs Ohio increased its position in Pebblebrook Hotel Trust by 112.0% during the 4th quarter. Strs Ohio now owns 237,031 shares of the real estate investment trust’s stock valued at $6,710,000 after purchasing an additional 125,216 shares during the period.

A number of research firms have weighed in on PEB. Zacks Investment Research downgraded shares of Pebblebrook Hotel Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. SunTrust Banks began coverage on Pebblebrook Hotel Trust in a report on Monday, May 6th. They issued a “hold” rating and a $43.00 target price on the stock. Citigroup began coverage on Pebblebrook Hotel Trust in a research note on Thursday, March 28th. They set a “neutral” rating and a $32.00 price objective on the stock. TheStreet cut Pebblebrook Hotel Trust from a “b-” rating to a “c” rating in a research note on Wednesday, February 27th. Finally, Barclays reissued a “buy” rating and issued a $38.00 price objective on shares of Pebblebrook Hotel Trust in a report on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Pebblebrook Hotel Trust has an average rating of “Hold” and an average price target of $36.10.

PEB stock traded down $0.44 during mid-day trading on Friday, reaching $28.51. 691,803 shares of the company traded hands, compared to its average volume of 967,126. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $3.78 billion, a PE ratio of 11.64, a PEG ratio of 2.18 and a beta of 1.40. Pebblebrook Hotel Trust has a 52-week low of $26.59 and a 52-week high of $39.94.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. Pebblebrook Hotel Trust had a negative return on equity of 0.20% and a negative net margin of 0.53%. The business had revenue of $267.20 million during the quarter, compared to analysts’ expectations of $358.66 million. During the same quarter last year, the business posted $0.67 EPS. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. On average, equities research analysts anticipate that Pebblebrook Hotel Trust will post 2.66 EPS for the current fiscal year.

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Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust is a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The Company owns 61 hotels, totaling approximately 14,600 guest rooms, located in 10 states and the District of Columbia, including: Del Mar, California; Los Angeles, California (Beverly Hills, Santa Monica and West Hollywood); San Diego, California; San Francisco, California; Santa Cruz, California; Washington, DC; Coral Gables, Florida; Key West, Florida; Naples, Florida; Buckhead, Georgia; Chicago, Illinois; Boston, Massachusetts; New York, New York; Portland, Oregon; Philadelphia, Pennsylvania; Nashville, Tennessee; Columbia River Gorge, Washington; and Seattle, Washington.

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Institutional Ownership by Quarter for Pebblebrook Hotel Trust (NYSE:PEB)

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