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

Pebblebrook Hotel Trust (NYSE:PEB) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.490-1.610 for the period, compared to the consensus EPS estimate of 1.590. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY24 guidance to $1.49-1.61 EPS.

Analysts Set New Price Targets

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

Pebblebrook Hotel Trust Stock Up 2.5 %

PEB stock traded up $0.37 during mid-day trading on Tuesday, reaching $15.45. The company had a trading volume of 2,753,335 shares, compared to its average volume of 1,539,965. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -15.93, a PEG ratio of 0.66 and a beta of 1.86. 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 has a 52 week low of $11.39 and a 52 week high of $16.65. The stock has a 50 day simple moving average of $15.65 and a two-hundred day simple moving average of $14.65.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.06. Pebblebrook Hotel Trust had a negative net margin of 5.49% and a negative return on equity of 2.65%. The business 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 business posted $0.18 EPS. Pebblebrook Hotel Trust’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current fiscal 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 paid 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 0.26%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -4.12%.

Insider Buying and Selling

In other news, insider Thomas Charles Fisher sold 11,441 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 254,449 shares in the company, valued at approximately $3,974,493.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% 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.