Assetmark Inc buys $7.7 Million stake in Pebblebrook Hotel Trust (PEB)

Pebblebrook Hotel Trust (PEB) : Assetmark Inc scooped up 248,259 additional shares in Pebblebrook Hotel Trust during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 299,218 shares of Pebblebrook Hotel Trust which is valued at $7.7 Million.Pebblebrook Hotel Trust makes up approximately 0.13% of Assetmark Inc’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates reduced its stake in PEB by selling 28,976 shares or 34.13% in the most recent quarter. The Hedge Fund company now holds 55,918 shares of PEB which is valued at $1.4 Million.Lazard Asset Management boosted its stake in PEB in the latest quarter, The investment management firm added 4,323 additional shares and now holds a total of 159,992 shares of Pebblebrook Hotel Trust which is valued at $4.1 Million. Pebblebrook Hotel Trust makes up approx 0.01% of Lazard Asset Management’s portfolio. Numeric Investors sold out all of its stake in PEB during the most recent quarter. The investment firm sold 245,012 shares of PEB which is valued $6.7 Million.New York State Common Retirement Fund boosted its stake in PEB in the latest quarter, The investment management firm added 74,047 additional shares and now holds a total of 166,128 shares of Pebblebrook Hotel Trust which is valued at $4.6 Million. Pebblebrook Hotel Trust makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.

Pebblebrook Hotel Trust opened for trading at $24.39 and hit $25.01 on the upside on Wednesday, eventually ending the session at $25, with a gain of 2.63% or 0.64 points. The heightened volatility saw the trading volume jump to 9,99,999 shares. Company has a market cap of $1,801 M.

On the company’s financial health, Pebblebrook Hotel Trust reported $0.56 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.46. The company had revenue of $196.20 million for the quarter, compared to analysts expectations of $190.14 million. The company’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on Pebblebrook Hotel Trust. Shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Outperform” and Lowered the Price Target to $ 33 from a previous price target of $34 .Pebblebrook Hotel Trust was Resumed by Stifel to “Hold” on Mar 29, 2016. Shares were Reiterated by Barclays on Mar 4, 2016 to “Overweight” and Lowered the Price Target to $ 34 from a previous price target of $41 .

Pebblebrook Hotel Trust is a hotel investment company. The Company operates as a real estate investment trust (REIT). The Company is engaged in acquiring and investing in hotel properties located primarily in cities of the United States. It owns interests in around 35 hotels including 29 wholly owned hotels with a total of 6948 guest rooms and a 49% joint venture interest in six hotels with a total of 1775 guest rooms. The hotels are located in markets including Atlanta (Buckhead) Georgia; Bethesda Maryland; Boston Massachusetts; Hollywood California; Los Angeles California; Miami Florida; Minneapolis Minnesota; Nashville Tennessee; New York New York; Philadelphia Pennsylvania; Portland Oregon; San Diego California; San Francisco California; Santa Monica California; Seattle Washington; Stevenson Washington; Washington D.C. and Westwood California among others. The Company’s assets are held by and the operations are conducted through Pebblebrook Hotel L.P.

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