Pebblebrook Hotel Trust (NYSE:PEB) Releases FY24 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.49-1.61 for the period, compared to the consensus estimate of $1.55. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Truist Financial lifted 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 objective for the company. in a research report on Monday, January 8th. Finally, 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. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $14.78.

Pebblebrook Hotel Trust Price Performance

Shares of PEB stock traded up $0.14 on Wednesday, reaching $15.59. 1,947,006 shares of the company were exchanged, compared to its average volume of 1,544,315. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -16.03, a P/E/G ratio of 0.69 and a beta of 1.86. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50-day moving average price of $15.65 and a 200 day moving average price of $14.66.

Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.48). The business had revenue of $314.10 million for the quarter, compared to analyst estimates of $304.34 million. Pebblebrook Hotel Trust had a negative return on equity of 2.65% and a negative net margin of 5.49%. Pebblebrook Hotel Trust’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. Equities research analysts forecast that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -4.12%.

Insider Transactions at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of Pebblebrook Hotel Trust stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.62, for a total transaction of $178,708.42. Following the transaction, the insider now directly owns 254,449 shares of the company’s stock, valued at $3,974,493.38. The sale was disclosed in a filing with the SEC, which is available at this link. 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.