Pebblebrook Hotel Trust (NYSE:PEB) Updates Q2 2024 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.590-0.630 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.

Pebblebrook Hotel Trust Stock Up 1.2 %

Shares of Pebblebrook Hotel Trust stock traded up $0.18 during trading hours on Wednesday, reaching $15.63. 2,291,775 shares of the company’s stock were exchanged, compared to its average volume of 1,548,388. The company has a 50 day moving average of $15.65 and a two-hundred day moving average of $14.66. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The stock has a market cap of $1.88 billion, a P/E ratio of -16.03, a P/E/G ratio of 0.69 and a beta of 1.86.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $314.10 million for the quarter, compared to analyst estimates of $304.34 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Pebblebrook Hotel Trust will post 1.57 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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