Pebblebrook Hotel Trust (NYSE:PEB) Issues Q3 2024 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.490-0.530 for the period, compared to the consensus EPS estimate of 0.610. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.590-1.670 EPS.

Pebblebrook Hotel Trust Trading Up 0.9 %

Shares of NYSE:PEB traded up $0.12 during trading on Thursday, reaching $13.62. 3,471,716 shares of the stock were exchanged, compared to its average volume of 1,559,881. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.46 and a current ratio of 0.46. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -13.35, a price-to-earnings-growth ratio of 0.68 and a beta of 1.84. The firm’s 50-day moving average price is $13.87 and its 200 day moving average price is $14.91.

Pebblebrook Hotel Trust (NYSE:PEB) last issued 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 firm had revenue of $397.11 million for the quarter, compared to analysts’ expectations of $396.29 million. Pebblebrook Hotel Trust had a negative return on equity of 2.88% and a negative net margin of 5.84%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. On average, sell-side analysts anticipate that Pebblebrook Hotel Trust will post 1.48 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Friday, June 28th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -3.92%.

Analyst Upgrades and Downgrades

PEB has been the subject of a number of analyst reports. StockNews.com cut Pebblebrook Hotel Trust from a hold rating to a sell rating in a report on Thursday, May 2nd. Compass Point restated a neutral rating and issued a $17.00 price target on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Finally, Truist Financial decreased their price target on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating for the company in a report on Thursday, May 30th. Three investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, Pebblebrook Hotel Trust presently has an average rating of Hold and an average target price of $14.42.

Insider Activity

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 17,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $13.67 per share, for a total transaction of $232,390.00. Following the purchase, the chief executive officer now owns 1,208,284 shares in the company, valued at approximately $16,517,242.28. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 17,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $13.67 per share, for a total transaction of $232,390.00. Following the purchase, the chief executive officer now owns 1,208,284 shares in the company, valued at approximately $16,517,242.28. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Phillip M. Miller sold 3,500 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total value 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 disclosure for this sale 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.