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

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com raised Pebblebrook Hotel Trust from a sell rating to a hold rating in a report on Wednesday. Truist Financial raised their price target on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a hold rating in a report on Thursday, January 18th. 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 report on Monday, January 8th. Finally, Compass Point reissued a neutral rating and set a $17.00 price target on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $14.78.

Pebblebrook Hotel Trust Price Performance

Shares of PEB stock traded down $0.60 during trading hours on Thursday, hitting $15.00. The stock had a trading volume of 3,488,428 shares, compared to its average volume of 1,583,958. Pebblebrook Hotel Trust has a one year low of $11.39 and a one 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 stock’s 50-day moving average price is $15.63 and its two-hundred day moving average price is $14.67. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -14.71, a PEG ratio of 0.70 and a beta of 1.86.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results 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). 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 the consensus estimate of $304.34 million. During the same period last year, the firm posted $0.18 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts forecast that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

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

Insider Buying and Selling at Pebblebrook Hotel Trust

In other news, insider Thomas Charles Fisher sold 11,441 shares of the company’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 transaction of $178,708.42. Following the transaction, the insider now owns 254,449 shares of the company’s stock, valued at $3,974,493.38. The transaction was disclosed in a legal filing with the SEC, which is available at 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.