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

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.59-0.63 for the period, compared to the consensus earnings per share estimate of $0.56. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.

Pebblebrook Hotel Trust Trading Up 0.9 %

PEB traded up $0.14 during trading on Wednesday, hitting $15.59. 1,947,006 shares of the stock traded hands, compared to its average volume of 1,544,315. The firm has a market capitalization of $1.88 billion, a P/E ratio of -16.03, a price-to-earnings-growth ratio of 0.69 and a beta of 1.86. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50-day moving average of $15.65 and a 200 day moving average of $14.66. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its 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 return on equity of 2.65% and a negative net margin of 5.49%. The company had revenue of $314.10 million during the quarter, compared to analysts’ expectations of $304.34 million. During the same period in the prior year, the business posted $0.18 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.26%. Pebblebrook Hotel Trust’s payout ratio is -4.12%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Truist Financial increased their price target on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a research note on Thursday, January 18th. Bank of America downgraded Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 target price on the stock. in a research note on Monday, January 8th. Finally, Compass Point restated a neutral rating and issued a $17.00 price target on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Pebblebrook Hotel Trust currently has a consensus rating of Hold and a consensus target price of $14.78.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $15.62, for a total transaction of $178,708.42. Following the completion of the sale, the insider now directly owns 254,449 shares of the company’s stock, valued at $3,974,493.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is 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.