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

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America downgraded shares of Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price objective on the stock. in a report on Monday, January 8th. Truist Financial upped their price objective 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. Compass Point reaffirmed a neutral rating and issued a $17.00 price objective on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Finally, StockNews.com raised shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $14.78.

Pebblebrook Hotel Trust Stock Performance

PEB remained flat at $15.00 during midday trading on Friday. 107,793 shares of the company’s stock traded hands, compared to its average volume of 1,565,489. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.46 and a quick ratio of 0.97. The stock has a market cap of $1.81 billion, a P/E ratio of -14.71, a price-to-earnings-growth ratio of 0.71 and a beta of 1.86. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65. The stock’s 50-day moving average price is $15.63 and its 200 day moving average price is $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) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.48). The company had revenue of $314.10 million for the quarter, compared to analysts’ expectations of $304.34 million. Pebblebrook Hotel Trust had a negative net margin of 5.84% and a negative return on equity of 2.88%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. Equities research analysts anticipate that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -3.92%.

Insider Activity

In other news, insider Thomas Charles Fisher sold 11,441 shares of the stock in a transaction dated Monday, February 26th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.40% of the company’s stock.

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.