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

Pebblebrook Hotel Trust (NYSE:PEB) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 1.490-1.610 for the period, compared to the consensus EPS 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 Up 2.5 %

NYSE PEB traded up $0.37 during mid-day trading on Tuesday, reaching $15.45. 2,753,335 shares of the company’s stock traded hands, compared to its average volume of 1,539,965. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65. The company has a fifty day simple moving average of $15.65 and a 200-day simple moving average of $14.65. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -15.93, a P/E/G ratio of 0.66 and a beta of 1.86.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.21 EPS for the quarter, topping the consensus estimate of $0.15 by $0.06. Pebblebrook Hotel Trust had a negative net margin of 5.49% and a negative return on equity of 2.65%. The business had revenue of $314.10 million for the quarter, compared to analysts’ expectations of $304.34 million. During the same quarter last year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, insider Thomas Charles Fisher sold 11,441 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.62, for a total transaction of $178,708.42. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

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.