Pebblebrook Hotel Trust (NYSE:PEB) Updates Q2 2024 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.590-0.630 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.

Pebblebrook Hotel Trust Stock Up 1.2 %

PEB traded up $0.18 on Wednesday, reaching $15.63. The company’s stock had a trading volume of 2,291,775 shares, compared to its average volume of 1,548,388. The stock has a market cap 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. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50 day moving average is $15.65 and its 200 day moving average is $14.66.

Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $314.10 million for the quarter, compared to the consensus estimate of $304.34 million. During the same period in the prior year, the business earned $0.18 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, research analysts forecast that Pebblebrook Hotel Trust will post 1.57 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

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

Wall Street Analyst Weigh In

PEB has been the topic of a number of research reports. Bank of America cut Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price target on the stock. in a research report on Monday, January 8th. Compass Point reiterated a neutral rating and set a $17.00 price target on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Finally, Truist Financial increased their price target on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a research report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, Pebblebrook Hotel Trust presently has an average rating of Hold and a consensus target price of $14.78.

Insider Activity at Pebblebrook Hotel Trust

In related news, insider Thomas Charles Fisher sold 11,441 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $15.62, for a total value of $178,708.42. Following the sale, the insider now directly owns 254,449 shares in the company, valued at approximately $3,974,493.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is 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.