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

Pebblebrook Hotel Trust (NYSE:PEB) updated its second quarter earnings guidance on Tuesday. 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 FY 2024 guidance to 1.490-1.610 EPS.

Wall Street Analyst Weigh In

Several research firms have recently commented on PEB. StockNews.com raised Pebblebrook Hotel Trust from a sell rating to a hold rating in a research note on Wednesday. Truist Financial lifted their price objective on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a research note on Thursday, January 18th. Compass Point reaffirmed a neutral rating and set a $17.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. Finally, 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 research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $14.78.

Pebblebrook Hotel Trust Stock Performance

Shares of Pebblebrook Hotel Trust stock remained flat at $15.00 during trading on Friday. The stock had a trading volume of 107,793 shares, compared to its average volume of 1,565,489. The company has a market cap of $1.81 billion, a P/E ratio of -14.71, a price-to-earnings-growth ratio of 0.71 and a beta of 1.86. The business’s 50 day simple moving average is $15.63 and its two-hundred day simple moving average is $14.67. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65. The company has a quick ratio of 0.97, a current ratio of 0.46 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.48). The firm had revenue of $314.10 million during the quarter, compared to the consensus estimate of $304.34 million. Pebblebrook Hotel Trust had a negative net margin of 5.84% and a negative return on equity of 2.88%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. On average, equities analysts forecast 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 given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -3.92%.

Insiders Place Their Bets

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 stock was sold at an average price of $15.62, for a total transaction of $178,708.42. Following the transaction, the insider now owns 254,449 shares of the company’s stock, valued at $3,974,493.38. The sale was disclosed in a document filed with the SEC, which is available through this link. Company 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.