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

Pebblebrook Hotel Trust (NYSE:PEB) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 0.590-0.630 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PEB. Compass Point reiterated a neutral rating and issued a $17.00 target price on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. Truist Financial boosted their price target on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a report on Thursday, January 18th. Bank of America downgraded shares of 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, StockNews.com raised shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, Pebblebrook Hotel Trust currently has an average rating of Hold and a consensus target price of $14.78.

Pebblebrook Hotel Trust Stock Performance

Shares of Pebblebrook Hotel Trust stock remained flat at $15.00 on Friday. 179,548 shares of the stock were exchanged, compared to its average volume of 1,566,420. Pebblebrook Hotel Trust has a 52-week low of $11.39 and a 52-week high of $16.65. The stock has a market capitalization of $1.81 billion, a P/E ratio of -14.71, a P/E/G ratio of 0.71 and a beta of 1.86. The company has a current ratio of 0.46, a quick ratio of 0.97 and a debt-to-equity ratio of 0.78. 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 for the quarter, missing the consensus estimate of $0.16 by ($0.48). The company had revenue of $314.10 million during the quarter, compared to the consensus estimate of $304.34 million. Pebblebrook Hotel Trust had a negative return on equity of 2.88% and a negative net margin of 5.84%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. On average, equities analysts anticipate that Pebblebrook Hotel Trust will post 1.57 EPS 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. Investors of record on Friday, March 29th were given a $0.01 dividend. This represents a $0.04 annualized dividend 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 Buying and Selling

In related news, insider Thomas Charles Fisher sold 11,441 shares of the company’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 transaction, the insider now directly owns 254,449 shares in the company, valued at $3,974,493.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.