Pebblebrook Hotel Trust (NYSE:PEB) Releases Quarterly Earnings Results, Misses Expectations By $0.42 EPS

Pebblebrook Hotel Trust (NYSE:PEB) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.42), Zacks reports. Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.39%. The business had revenue of $397.11 million during the quarter, compared to analysts’ expectations of $396.29 million. During the same period in the previous year, the business earned $0.62 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Pebblebrook Hotel Trust updated its FY 2024 guidance to 1.590-1.670 EPS and its Q3 2024 guidance to 0.490-0.530 EPS.

Pebblebrook Hotel Trust Trading Down 0.1 %

Shares of PEB stock traded down $0.01 during mid-day trading on Friday, hitting $13.61. The company’s stock had a trading volume of 517,098 shares, compared to its average volume of 1,552,439. Pebblebrook Hotel Trust has a 52-week low of $11.39 and a 52-week high of $16.65. The business has a 50-day moving average price of $13.83 and a 200 day moving average price of $14.90. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Phillip M. Miller sold 3,500 shares of Pebblebrook Hotel Trust 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 sale, the director now owns 13,098 shares of the company’s stock, valued at $174,072.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Phillip M. Miller sold 3,500 shares of the business’s 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 directly owns 13,098 shares in the company, valued at $174,072.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon E. Bortz acquired 17,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were bought at an average price of $13.67 per share, for a total transaction of $232,390.00. Following the completion of the transaction, the chief executive officer now owns 1,208,284 shares of the company’s stock, valued at $16,517,242.28. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate 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.