Pebblebrook Hotel Trust (NYSE:PEB) Updates Q3 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.49-$0.53 for the period, compared to the consensus estimate of $0.53. Pebblebrook Hotel Trust also updated its Q3 2024 guidance to 0.490-0.530 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEB. StockNews.com downgraded Pebblebrook Hotel Trust from a hold rating to a sell rating in a report on Monday, September 16th. Truist Financial dropped 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. Finally, Wells Fargo & Company reduced their price target 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. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat, Pebblebrook Hotel Trust currently has an average rating of Hold and an average target price of $13.92.

Pebblebrook Hotel Trust Trading Up 1.4 %

NYSE PEB opened at $14.31 on Monday. The firm’s fifty day moving average is $13.08 and its two-hundred day moving average is $14.07. Pebblebrook Hotel Trust has a one year low of $11.39 and a one year high of $16.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $1.72 billion, a PE ratio of -14.03, a P/E/G ratio of 0.61 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.42). Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. The company had revenue of $397.11 million for the quarter, compared to analysts’ expectations of $396.29 million. During the same period in the prior year, the company earned $0.62 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Analysts expect that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -3.92%.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz bought 66,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $11.98 per share, for a total transaction of $790,680.00. Following the purchase, the chief executive officer now owns 1,319,284 shares of the company’s stock, valued at $15,805,022.32. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 3,500 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total value of $46,515.00. Following the completion of the transaction, the director now owns 13,098 shares in the company, valued at $174,072.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon E. Bortz bought 66,000 shares of Pebblebrook Hotel Trust stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $11.98 per share, with a total value of $790,680.00. Following the acquisition, the chief executive officer now owns 1,319,284 shares of the company’s stock, valued at approximately $15,805,022.32. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate insiders.

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.