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 Stock Performance

Shares of PEB traded up $0.37 during trading hours on Tuesday, hitting $15.45. The company had a trading volume of 2,753,335 shares, compared to its average volume of 1,539,965. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -15.93, a PEG ratio of 0.66 and a beta of 1.86. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.81. The business has a fifty day moving average of $15.65 and a 200-day moving average of $14.65. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.21 earnings per share for the quarter, topping 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 business 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 earnings per share. Pebblebrook Hotel Trust’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts anticipate 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. Investors of record on Friday, March 29th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.26%. Pebblebrook Hotel Trust’s payout ratio is -4.12%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related 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 sale, the insider now owns 254,449 shares in the company, valued at approximately $3,974,493.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.60% of the company’s stock.

About Pebblebrook Hotel Trust

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.