Pebblebrook Hotel Trust (NYSE:PEB) Issues 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

PEB has been the subject of a number of research analyst reports. Bank of America cut Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price objective for the company. in a report on Monday, January 8th. Truist Financial lifted their price target on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a hold rating in a research note 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 report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating and six 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 Price Performance

Shares of PEB traded up $0.37 during trading hours on Tuesday, reaching $15.45. 2,753,335 shares of the stock traded hands, compared to its average volume of 1,539,965. The company has a market cap of $1.86 billion, a P/E ratio of -15.93, a price-to-earnings-growth ratio of 0.66 and a beta of 1.86. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $15.65 and its two-hundred day moving average price is $14.65. Pebblebrook Hotel Trust has a 52-week low of $11.39 and a 52-week high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.21 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 firm had revenue of $334.10 million during the quarter, compared to the consensus estimate of $325.42 million. During the same quarter last year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts anticipate that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently announced 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. 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 is currently -4.12%.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust 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 transaction of $178,708.42. Following the sale, the insider now 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 can be accessed through the SEC website. 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.