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

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.49-$0.53 for the period, compared to the consensus earnings per share estimate of $0.53. Pebblebrook Hotel Trust also updated its Q3 2024 guidance to 0.490-0.530 EPS.

Pebblebrook Hotel Trust Trading Up 1.4 %

Shares of PEB stock opened at $14.31 on Monday. The stock has a market cap of $1.72 billion, a P/E ratio of -14.03, a P/E/G ratio of 0.61 and a beta of 1.84. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65. The business has a fifty day simple moving average of $13.08 and a 200-day simple moving average of $14.07.

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). Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. The business had revenue of $397.11 million for the quarter, compared to analysts’ expectations of $396.29 million. During the same quarter last year, the business posted $0.62 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, analysts forecast that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Monday, September 30th. Pebblebrook Hotel Trust’s payout ratio is currently -3.92%.

Analyst Upgrades and Downgrades

PEB has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an equal weight rating for the company in a report on Friday, September 13th. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a hold rating to a sell rating in a research note on Monday, September 16th. Finally, Truist Financial decreased 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 research note on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, Pebblebrook Hotel Trust presently has a consensus rating of Hold and a consensus price target of $13.92.

Insiders Place Their Bets

In related news, CEO Jon E. Bortz acquired 66,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $11.98 per share, for a total transaction of $790,680.00. Following the acquisition, the chief executive officer now directly owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jon E. Bortz purchased 22,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $12.21 per share, with a total value of $268,620.00. Following the completion of the transaction, the chief executive officer now owns 1,341,284 shares in the company, valued at $16,377,077.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon E. Bortz purchased 66,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $11.98 per share, with a total value of $790,680.00. Following the completion of the purchase, the chief executive officer now directly owns 1,319,284 shares of the company’s stock, valued at $15,805,022.32. The disclosure for this purchase can be found here. 2.40% of the stock is 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.