Pebblebrook Hotel Trust (NYSE:PEB) Issues 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 EPS guidance of 0.590-0.630 for the period, compared to the consensus EPS 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 Price Performance

NYSE:PEB traded down $0.60 during trading hours on Thursday, reaching $15.00. 3,488,428 shares of the company were exchanged, compared to its average volume of 1,583,958. The company has a market capitalization of $1.80 billion, a P/E ratio of -14.71, a P/E/G ratio of 0.70 and a beta of 1.86. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65. 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 business has a 50 day moving average of $15.63 and a 200 day moving average of $14.67.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.48). The company had revenue of $314.10 million for the quarter, compared to analyst estimates of $304.34 million. Pebblebrook Hotel Trust had a negative return on equity of 2.85% and a negative net margin of 5.84%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. Research analysts forecast that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders 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 0.27%. The ex-dividend date of this dividend was Wednesday, March 27th. Pebblebrook Hotel Trust’s payout ratio is presently -3.92%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEB. Compass Point restated a neutral rating and set a $17.00 target price on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. StockNews.com upgraded Pebblebrook Hotel Trust from a sell rating to a hold rating in a research note on Wednesday. Bank of America cut 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. Finally, Truist Financial upped their target price on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a research note on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Pebblebrook Hotel Trust presently has an average 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 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 completion of the transaction, the insider now directly owns 254,449 shares of the company’s stock, valued at approximately $3,974,493.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate 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.