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

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

Pebblebrook Hotel Trust Stock Up 2.5 %

Shares of PEB stock traded up $0.37 during trading hours on Tuesday, reaching $15.45. 2,753,335 shares of the company’s stock were exchanged, compared to its average volume of 1,539,965. 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 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. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65. The stock’s 50 day moving average is $15.65 and its 200-day moving average is $14.65.

Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. The company had revenue of $314.10 million for the quarter, compared to the consensus estimate of $304.34 million. Pebblebrook Hotel Trust had a negative net margin of 5.49% and a negative return on equity of 2.65%. Pebblebrook Hotel Trust’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. Analysts predict that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -4.12%.

Analyst Upgrades and Downgrades

PEB has been the topic of a number of recent research reports. Bank of America lowered Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 target price on the stock. in a research report on Monday, January 8th. Truist Financial upped their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a hold rating in a report on Thursday, January 18th. Finally, Compass Point reissued a neutral rating and set a $17.00 target price on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $14.78.

Insider Activity at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of the company’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 completion of the transaction, the insider now owns 254,449 shares in the company, valued at $3,974,493.38. The sale was disclosed in a legal filing with the SEC, which is available at 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.