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

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its second quarter earnings guidance on Tuesday morning. 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 FY24 guidance to $1.49-1.61 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PEB. Bank of America downgraded shares of Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 target price for the company. in a research report on Monday, January 8th. Truist Financial boosted their price objective on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a hold rating in a research report on Thursday, January 18th. Finally, Compass Point restated a neutral rating and issued a $17.00 target price on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $14.78.

Pebblebrook Hotel Trust Price Performance

PEB stock traded up $0.37 during trading on Tuesday, hitting $15.45. 2,753,335 shares of the stock traded hands, compared to its average volume of 1,539,965. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -15.93, a P/E/G ratio of 0.66 and a beta of 1.86. The company has a 50 day simple moving average of $15.65 and a 200 day simple moving average of $14.65. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. Pebblebrook Hotel Trust has a one year low of $11.39 and a one year high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $334.10 million for the quarter, compared to the consensus estimate of $325.42 million. During the same period in the prior year, the company posted $0.20 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. Equities analysts expect that Pebblebrook Hotel Trust will post 1.57 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio is -4.12%.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of the firm’s 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 transaction, the insider now directly owns 254,449 shares of the company’s stock, valued at approximately $3,974,493.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.60% 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.