The Pixel Luminosity Telescope (PLT) is a dedicated system for luminosity measurement at the CMS experiment using silicon pixel sensors arranged into "telescopes", each consisting of three sensor planes. It was installed in CMS at the beginning of 2015 and has been providing online and offline luminosity measurements throughout Run 2 of the LHC. The online bunch-by-bunch luminosity measurement employs the "fast-or" capability of the pixel readout chip to identify events where a hit is registered in all three sensors in a telescope, corresponding primarily to tracks originating from the interaction point. In addition, the full pixel information is read out at a lower rate, allowing for the calculation of corrections to the online luminosity from effects such as the miscounting of tracks not originating from the interaction point and detector efficiency. This paper presents results from the 2016 running of the PLT, including commissioning and operational history, luminosity calibration using Van der Meer scans, and corrections to the online luminosity, as well as offline performance and monitoring.