Cinctive Capital Management LP Purchases New Position in Pebblebrook Hotel Trust (NYSE:PEB)

Cinctive Capital Management LP acquired a new position in Pebblebrook Hotel Trust (NYSE:PEB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 357,502 shares of the real estate investment trust's stock, valued at approximately $4,844,000. Cinctive Capital Management LP owned 0.30% of Pebblebrook Hotel Trust at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PEB. Geode Capital Management LLC grew its holdings in shares of Pebblebrook Hotel Trust by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,043,473 shares of the real estate investment trust's stock worth $40,272,000 after purchasing an additional 28,871 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pebblebrook Hotel Trust by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,504,751 shares of the real estate investment trust's stock valued at $33,939,000 after acquiring an additional 86,592 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Pebblebrook Hotel Trust by 2.3% during the fourth quarter. William Blair Investment Management LLC now owns 2,159,201 shares of the real estate investment trust's stock worth $29,257,000 after purchasing an additional 49,183 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Pebblebrook Hotel Trust by 82.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,399,856 shares of the real estate investment trust's stock worth $18,968,000 after purchasing an additional 633,881 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC purchased a new position in Pebblebrook Hotel Trust during the 4th quarter valued at about $13,788,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEB shares. Truist Financial reduced their target price on Pebblebrook Hotel Trust from $14.00 to $13.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. StockNews.com lowered shares of Pebblebrook Hotel Trust from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Wells Fargo & Company reduced their price target on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Raymond James set a $14.00 price objective on Pebblebrook Hotel Trust and gave the company an "outperform" rating in a research report on Thursday, February 27th. Finally, Wedbush cut Pebblebrook Hotel Trust from a "neutral" rating to an "underperform" rating and set a $13.00 target price for the company. in a research note on Thursday, January 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $13.86.

Pebblebrook Hotel Trust Stock Up 2.4 %

PEB stock traded up $0.19 on Tuesday, reaching $8.13. 713,688 shares of the company traded hands, compared to its average volume of 1,851,483. The firm has a fifty day simple moving average of $11.53 and a 200-day simple moving average of $12.69. The company has a market cap of $974.33 million, a P/E ratio of -28.16, a price-to-earnings-growth ratio of 0.60 and a beta of 1.69. Pebblebrook Hotel Trust has a one year low of $7.69 and a one year high of $16.06. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.81 and a quick ratio of 0.81.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Pebblebrook Hotel Trust's payout ratio is -9.30%.

Pebblebrook Hotel Trust Company Profile

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.