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.

Pebblebrook Hotel Trust Price Performance

Shares of Pebblebrook Hotel Trust stock traded down $0.60 on Thursday, hitting $15.00. The company had a trading volume of 3,488,428 shares, compared to its average volume of 1,583,958. The company has a market cap of $1.80 billion, a PE ratio of -14.71, a PEG ratio of 0.70 and a beta of 1.86. Pebblebrook Hotel Trust has a 52 week low of $11.39 and a 52 week 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 has a 50-day simple moving average of $15.63 and a 200-day simple moving average of $14.67.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings data 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 2.85% and a negative net margin of 5.84%. 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 prior year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Research analysts expect 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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio is -3.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Bank of America lowered shares of Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price objective for the company. in a research note on Monday, January 8th. Truist Financial increased their target price on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a research report on Thursday, January 18th. StockNews.com upgraded shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a research report on Wednesday. Finally, Compass Point reiterated a neutral rating and issued a $17.00 target price on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $14.78.

Insider Activity

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