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

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.490-1.610 for the period, compared to the consensus earnings per share estimate of 1.590. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY24 guidance to $1.49-1.61 EPS.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE:PEB remained flat at $15.00 during trading on Friday. The stock had a trading volume of 179,548 shares, compared to its average volume of 1,566,420. The company has a 50-day simple moving average of $15.63 and a two-hundred day simple moving average of $14.67. The company has a market capitalization of $1.81 billion, a P/E ratio of -14.71, a PEG ratio of 0.71 and a beta of 1.86. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.46. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly 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). The firm had revenue of $314.10 million for the quarter, compared to analysts’ expectations of $304.34 million. Pebblebrook Hotel Trust had a negative return on equity of 2.88% and a negative net margin of 5.84%. Pebblebrook Hotel Trust’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. Equities research analysts anticipate that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -3.92%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PEB shares. Compass Point reiterated a neutral rating and issued a $17.00 price target on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Truist Financial upped 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 report on Thursday, January 18th. Bank of America cut shares of Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price objective for the company. in a research report on Monday, January 8th. Finally, StockNews.com upgraded shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $14.78.

Insider Buying and Selling

In related news, insider Thomas Charles Fisher sold 11,441 shares of the firm’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 in the company, valued at $3,974,493.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by 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.