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

Pebblebrook Hotel Trust (NYSE:PEB) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $1.49-1.61 for the period, compared to the consensus EPS estimate of $1.55. Pebblebrook Hotel Trust also updated its Q2 guidance to $0.59-0.63 EPS.

Pebblebrook Hotel Trust Price Performance

Shares of PEB stock traded up $0.37 on Tuesday, reaching $15.45. The company’s stock had a trading volume of 2,753,335 shares, compared to its average volume of 1,539,965. The stock’s fifty day simple moving average is $15.65 and its 200-day simple moving average is $14.65. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -15.93, a price-to-earnings-growth ratio of 0.66 and a beta of 1.86.

Pebblebrook Hotel Trust (NYSE:PEB) last issued 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. The firm had revenue of $334.10 million during the quarter, compared to analyst estimates of $325.42 million. Pebblebrook Hotel Trust had a negative net margin of 5.49% and a negative return on equity of 2.65%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. Analysts forecast that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The company 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 yield of 0.26%. The ex-dividend date was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -4.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PEB shares. Compass Point reiterated a neutral rating and issued a $17.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. Truist Financial boosted their price target 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 lowered Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 target price for the company. in a research note on Monday, January 8th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $14.78.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of Pebblebrook Hotel Trust stock in a transaction on Monday, February 26th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.