Pebblebrook Hotel Trust (NYSE:PEB) Releases Q3 2024 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.490-0.530 for the period, compared to the consensus estimate of 0.610. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.590-1.670 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PEB. Truist Financial lowered their target price on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating for the company in a research note on Thursday, May 30th. StockNews.com cut Pebblebrook Hotel Trust from a hold rating to a sell rating in a research note on Thursday, May 2nd. Finally, Compass Point reissued a neutral rating and issued a $17.00 target price 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 given a hold rating to the company’s stock. According to MarketBeat.com, Pebblebrook Hotel Trust currently has an average rating of Hold and a consensus target price of $14.42.

Pebblebrook Hotel Trust Trading Up 0.9 %

PEB stock traded up $0.12 during midday trading on Thursday, hitting $13.62. 3,471,716 shares of the company’s stock were exchanged, compared to its average volume of 1,559,881. The stock’s fifty day moving average price is $13.87 and its 200-day moving average price is $14.91. 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 company has a market cap of $1.64 billion, a PE ratio of -13.35, a price-to-earnings-growth ratio of 0.68 and a beta of 1.84. Pebblebrook Hotel Trust has a one year low of $11.39 and a one year high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.42). The business had revenue of $397.11 million for the quarter, compared to the consensus estimate of $396.29 million. Pebblebrook Hotel Trust had a negative return on equity of 2.88% and a negative net margin of 5.84%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Research analysts predict that Pebblebrook Hotel Trust will post 1.48 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.29%. Pebblebrook Hotel Trust’s dividend payout ratio is presently -3.92%.

Insider Buying and Selling at Pebblebrook Hotel Trust

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