Pebblebrook Hotel Trust (NYSE:PEB) Releases FY 2024 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.590-1.670 for the period, compared to the consensus earnings per share estimate of 1.570. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its Q3 2024 guidance to 0.490-0.530 EPS.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB traded down $0.62 during trading hours on Wednesday, reaching $13.48. 2,485,180 shares of the company traded hands, compared to its average volume of 1,546,323. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.46 and a current ratio of 0.46. The stock’s fifty day moving average is $13.87 and its 200 day moving average is $14.91. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65. The stock has a market cap of $1.62 billion, a P/E ratio of -13.22, a price-to-earnings-growth ratio of 0.67 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.48). Pebblebrook Hotel Trust had a negative net margin of 5.84% and a negative return on equity of 2.88%. The firm had revenue of $314.10 million during the quarter, compared to analyst estimates of $304.34 million. During the same period last year, the company earned $0.18 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Pebblebrook Hotel Trust will post 1.48 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. Pebblebrook Hotel Trust’s payout ratio is -3.92%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEB. Truist Financial lowered their price target on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating on the stock in a report on Thursday, May 30th. StockNews.com cut shares of Pebblebrook Hotel Trust from a hold rating to a sell rating in a research note on Thursday, May 2nd. Finally, Compass Point restated a neutral rating and set a $17.00 price target on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, Pebblebrook Hotel Trust currently has a consensus rating of Hold and a consensus price target of $14.42.

Insider Buying and Selling

In other news, CEO Jon E. Bortz purchased 17,000 shares of Pebblebrook Hotel Trust stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of $13.67 per share, for a total transaction of $232,390.00. Following the completion of the transaction, the chief executive officer now directly owns 1,208,284 shares in the company, valued at $16,517,242.28. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 17,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $13.67 per share, with a total value of $232,390.00. Following the acquisition, the chief executive officer now directly owns 1,208,284 shares of the company’s stock, valued at approximately $16,517,242.28. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Phillip M. Miller sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total value of $46,515.00. Following the completion of the transaction, the director now directly owns 13,098 shares in the company, valued at approximately $174,072.42. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by corporate insiders.

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.