Pebblebrook Hotel Trust (NYSE:PEB) Releases FY24 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.49-1.61 for the period, compared to the consensus estimate of $1.55. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.

Analyst Ratings Changes

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

Pebblebrook Hotel Trust Trading Up 0.9 %

Shares of NYSE:PEB traded up $0.14 on Wednesday, hitting $15.59. 1,947,006 shares of the company’s stock were exchanged, compared to its average volume of 1,544,315. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -16.03, a price-to-earnings-growth ratio of 0.69 and a beta of 1.86. The business’s 50 day simple moving average is $15.65 and its two-hundred day simple moving average is $14.66. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.97 and a quick ratio of 0.97.

Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.48). Pebblebrook Hotel Trust had a negative return on equity of 2.65% and a negative net margin of 5.49%. The business had revenue of $314.10 million for the quarter, compared to the consensus estimate of $304.34 million. During the same quarter last year, the business posted $0.18 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that Pebblebrook Hotel Trust will post 1.57 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

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

Insider Activity at Pebblebrook Hotel Trust

In related news, insider Thomas Charles Fisher sold 11,441 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.62, for a total value of $178,708.42. Following the completion of the sale, the insider now directly owns 254,449 shares in the company, valued at $3,974,493.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

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.