Pebblebrook Hotel Trust (PEB) To Go Ex-Dividend on September 30th

Pebblebrook Hotel Trust (NYSE:PEB) announced a quarterly dividend on Monday, September 16th, NASDAQ reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.01 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Monday, September 30th.

Pebblebrook Hotel Trust has increased its dividend by an average of 58.7% annually over the last three years. Pebblebrook Hotel Trust has a dividend payout ratio of -9.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Pebblebrook Hotel Trust to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.6%.

Pebblebrook Hotel Trust Stock Up 2.8 %

Shares of NYSE PEB opened at $13.26 on Wednesday. The stock has a fifty day moving average price of $13.04 and a 200 day moving average price of $14.12. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65. The company has a market cap of $1.60 billion, a P/E ratio of -13.00, a P/E/G ratio of 0.60 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.42). The company had revenue of $397.11 million during the quarter, compared to analyst estimates of $396.29 million. Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. Pebblebrook Hotel Trust’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. Research analysts anticipate that Pebblebrook Hotel Trust will post 1.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Truist Financial reduced their target price on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Wells Fargo & Company decreased their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, StockNews.com lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and a consensus target price of $13.92.

Insider Activity

In other news, Director Phillip M. Miller sold 3,500 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total transaction of $46,515.00. Following the transaction, the director now owns 13,098 shares of the company’s stock, valued at $174,072.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total transaction of $46,515.00. Following the sale, the director now owns 13,098 shares in the company, valued at $174,072.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon E. Bortz bought 22,000 shares of Pebblebrook Hotel Trust stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $12.21 per share, for a total transaction of $268,620.00. Following the acquisition, the chief executive officer now owns 1,341,284 shares in the company, valued at $16,377,077.64. The disclosure for this purchase can be found here. 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.