Cinctive Capital Management LP Buys Shares of 357,502 Pebblebrook Hotel Trust (NYSE:PEB)

Cinctive Capital Management LP purchased a new position in shares of Pebblebrook Hotel Trust (NYSE:PEB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 357,502 shares of the real estate investment trust’s stock, valued at approximately $4,844,000. Cinctive Capital Management LP owned about 0.30% of Pebblebrook Hotel Trust at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. FMR LLC lifted its position in Pebblebrook Hotel Trust by 10.8% during the third quarter. FMR LLC now owns 9,069 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 884 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Pebblebrook Hotel Trust during the 4th quarter valued at about $151,000. Holocene Advisors LP bought a new position in shares of Pebblebrook Hotel Trust during the 3rd quarter valued at approximately $166,000. Quadrature Capital Ltd purchased a new stake in Pebblebrook Hotel Trust in the 3rd quarter worth approximately $185,000. Finally, Metis Global Partners LLC raised its stake in Pebblebrook Hotel Trust by 11.4% during the 4th quarter. Metis Global Partners LLC now owns 13,823 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 1,412 shares during the period.

Pebblebrook Hotel Trust Trading Up 1.6 %

Shares of PEB stock opened at $10.51 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -36.24, a price-to-earnings-growth ratio of 0.60 and a beta of 1.87. Pebblebrook Hotel Trust has a 12-month low of $9.93 and a 12-month high of $16.06. The stock’s 50-day moving average price is $11.85 and its 200-day moving average price is $12.80.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Monday, March 31st. Pebblebrook Hotel Trust’s payout ratio is -9.30%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial reduced their price objective on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Wedbush lowered Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price target for the company. in a research note on Thursday, January 2nd. StockNews.com cut Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Compass Point lowered Pebblebrook Hotel Trust from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $17.00 to $15.00 in a research note on Monday, March 10th. Finally, Wells Fargo & Company decreased their target price on Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.86.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.