Pebblebrook Hotel Trust (NYSE:PEB) Releases Earnings Results, Beats Expectations By $0.05 EPS

Pebblebrook Hotel Trust (NYSE:PEB) announced its earnings results on Wednesday. The real estate investment trust reported $0.17 EPS for the quarter, beating the consensus estimate of $0.12 by $0.05, FiscalAI reports. The business had revenue of $407.14 million for the quarter, compared to the consensus estimate of $400.05 million. Pebblebrook Hotel Trust had a negative return on equity of 2.41% and a negative net margin of 4.18%.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB stock traded down $0.19 on Wednesday, hitting $19.18. 2,433,213 shares of the stock traded hands, compared to its average volume of 2,466,485. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $2.17 billion, a PE ratio of -23.97, a PEG ratio of 1.33 and a beta of 1.39. Pebblebrook Hotel Trust has a 1-year low of $9.30 and a 1-year high of $19.93. The company’s fifty day moving average is $17.85 and its 200 day moving average is $14.63.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Pebblebrook Hotel Trust’s payout ratio is currently -5.00%.

Institutional Trading of Pebblebrook Hotel Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its holdings in shares of Pebblebrook Hotel Trust by 32.8% in the 4th quarter. Quadrant Capital Group LLC now owns 3,220 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 796 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Pebblebrook Hotel Trust during the third quarter worth about $88,000. Federation des caisses Desjardins du Quebec grew its position in shares of Pebblebrook Hotel Trust by 26.7% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 9,346 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 1,972 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Pebblebrook Hotel Trust in the 2nd quarter worth about $116,000. Finally, XTX Topco Ltd acquired a new stake in shares of Pebblebrook Hotel Trust in the 4th quarter worth about $121,000.

Wall Street Analysts Forecast Growth

PEB has been the subject of several recent research reports. Truist Financial increased their price objective on shares of Pebblebrook Hotel Trust from $17.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Evercore set a $15.00 price objective on shares of Pebblebrook Hotel Trust in a report on Monday, April 27th. Raymond James Financial reissued an “outperform” rating and issued a $18.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Monday, June 8th. Cantor Fitzgerald lifted their target price on Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Finally, Zacks Research upgraded Pebblebrook Hotel Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $16.90.

About Pebblebrook Hotel Trust

Pebblebrook Hotel Trust (NYSE:PEB) is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company’s investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB’s portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.