BlackRock Fund Advisors recently announced the acquisition of new stake in Pebblebrook Hotel Trust (NYSE:PEB). The institutional investor has increased its shareholding in the Real Estate company by 24.26% to 19.55 million shares with purchase of 3.82 million shares. This fresh investment now brings its stake to 15.88% valued currently at $278.25 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.17 million to 19.38 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.48% or 0.2 million shares – to 8.11 million shares.
With over 1.43 million Pebblebrook Hotel Trust (PEB) shares trading Monday and a closing price of $13.66 on the day, the dollar volume was approximately $19.52 million. The shares have shown a negative half year performance of -12.38% and its price on 05/22/23 lost nearly -2.08%. Currently, there are 125.49M common shares owned by the public and among those 122.78M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for PEB have a consensus price objective of $16.50. The analysts have set the share’s price value over the next 12 months at a high of $28.00 and a low of $13.00. The average price target is 16.61% above its recent price level and a downside to the estimated low will see the stock lose -5.08% over that period. But an upside of 51.21% will see the stock hit the forecast high price target while median target price for the stock is $16.00.
Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 23 of these insider trades were purchases, accounting for 321,317 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 91,679 shares.
The top 3 mutual fund holders in Pebblebrook Hotel Trust are iShares Core S&P Small Cap ETF, Undiscovered Managers Behavioral, and Vanguard Real Estate Index Fund. iShares Core S&P Small Cap ETF owns 7.78 million shares of the company’s stock, all valued at over $110.66 million. Undiscovered Managers Behavioral bought 1.84 million shares to see its total holdings expand to 6.28 million shares valued at over $89.37 million and representing 5.10% of the shares outstanding. Vanguard Real Estate Index Fund sold 67553.0 shares to bring its total holdings to over 5.79 million shares at a value of $82.38 million. Vanguard Real Estate Index Fund now owns shares totaling to 4.70% of the shares outstanding.
Shares of Pebblebrook Hotel Trust (NYSE: PEB) opened at $14.05, up $0.1 from a prior closing price of $13.95. However, the script later moved the day high at 14.08, down -2.08%. The company’s stock has a 5-day price change of -2.15% and -6.69% over the past three months. PEB shares are trading 2.02% year to date (YTD), with the 12-month market performance down to -37.51% lower. It has a 12-month low price of $12.37 and touched a high of $24.29 over the same period. PEB has an average intraday trading volume of 2.94 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.67%, -2.18%, and -11.38% respectively.
Institutional ownership of Pebblebrook Hotel Trust (NYSE: PEB) shares accounts for 120.62% of the company’s 125.49M shares outstanding. Mutual fund holders own 52.97%, while other institutional holders and individual stakeholders account for 72.43% and 1.69% respectively.
It has a market capitalization of $1.69B and a beta (3y monthly) value of 1.83. The earnings-per-share (ttm) stands at -$0.38. The company has a debt-to-equity ratio at 0.00. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.26% over the week and 3.27% over the month.
Analysts forecast that Pebblebrook Hotel Trust (PEB) will achieve an EPS of $0.16 for the current quarter, $0.09 for the next quarter and -$0.22 for 2024. The lowest estimate earnings-per-share for the quarter is $0.16 while analysts give the company a high EPS estimate of $0.17. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to increase by 47.10%, and -22.20% over the next financial year. EPS should grow at an annualized rate of 9.00% over the next five years, compared to -22.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Pebblebrook Hotel Trust (PEB) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 10 of the 13 advise that investors “hold,” and 1 rated it as a “Sell.”
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