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

Pebblebrook Hotel Trust (NYSE:PEB) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.59-0.63 for the period, compared to the consensus EPS estimate of $0.56. Pebblebrook Hotel Trust also updated its FY24 guidance to $1.49-1.61 EPS.

Analyst Ratings Changes

Several brokerages recently weighed in on PEB. Truist Financial raised 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 report on Thursday, January 18th. Bank of America downgraded shares of Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price target for the company. in a research report on Monday, January 8th. Finally, Compass Point reaffirmed a neutral rating and issued a $17.00 target price 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 given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target 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 1,539,963. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.81. Pebblebrook Hotel Trust has a 52-week low of $11.39 and a 52-week high of $16.65. 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 (NYSE:PEB) last released its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.21 earnings per share 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 company had revenue of $334.10 million for the quarter, compared to analysts’ expectations of $325.42 million. During the same quarter in the previous year, the company earned $0.20 EPS. Pebblebrook Hotel Trust’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts expect that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a $0.01 dividend. 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 Pebblebrook Hotel Trust stock in a transaction on 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 directly owns 254,449 shares in the company, valued at approximately $3,974,493.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

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.