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

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.570-1.600 for the period, compared to the consensus EPS estimate of 1.610. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its Q4 guidance to $0.08 to $0.11 EPS.

Wall Street Analyst Weigh In

Several analysts have commented on PEB shares. 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 note on Friday, September 13th. Robert W. Baird reduced their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Truist Financial lowered their target price on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Finally, StockNews.com lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.30.

Pebblebrook Hotel Trust Price Performance

Shares of PEB traded down $0.31 during trading hours on Friday, reaching $12.95. The company had a trading volume of 2,351,895 shares, compared to its average volume of 1,676,093. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. The firm has a 50 day simple moving average of $12.88 and a 200-day simple moving average of $13.43. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -44.66, a PEG ratio of 0.62 and a beta of 1.85.

Pebblebrook Hotel Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -13.79%.

Insiders Place Their Bets

In other news, CEO Jon E. Bortz bought 22,000 shares of Pebblebrook Hotel Trust stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of $12.21 per share, with a total value of $268,620.00. Following the purchase, the chief executive officer now directly owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.40% of the stock is currently 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.