Pebblebrook Hotel Trust (NYSE:PEB) Issues Q2 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.59-0.63 for the period, compared to the consensus EPS estimate of $0.56. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PEB. Compass Point reiterated a neutral rating and set a $17.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Bank of America downgraded Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price objective on the stock. in a research report on Monday, January 8th. Finally, Truist Financial raised their target price on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $14.78.

Pebblebrook Hotel Trust Trading Up 0.9 %

Shares of NYSE PEB traded up $0.14 during trading on Wednesday, reaching $15.59. The stock had a trading volume of 1,947,006 shares, compared to its average volume of 1,544,315. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50-day moving average price is $15.65 and its 200-day moving average price is $14.66. The company has a market cap of $1.88 billion, a P/E ratio of -16.03, a PEG ratio of 0.69 and a beta of 1.86.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.48). Pebblebrook Hotel Trust had a negative net margin of 5.49% and a negative return on equity of 2.65%. The firm had revenue of $314.10 million during the quarter, compared to analyst estimates of $304.34 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Pebblebrook Hotel Trust will post 1.57 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.26%. Pebblebrook Hotel Trust’s payout ratio is -4.12%.

Insider Buying and Selling

In related news, insider Thomas Charles Fisher sold 11,441 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.62, for a total transaction of $178,708.42. Following the completion of the transaction, the insider now directly owns 254,449 shares of the company’s stock, valued at approximately $3,974,493.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is currently owned by insiders.

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.