Pebblebrook Hotel Trust (NYSE:PEB) Updates 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 earnings per share guidance of 0.590-0.630 for the period, compared to the consensus earnings per share 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 Stock Up 2.5 %

PEB traded up $0.37 during midday trading on Tuesday, reaching $15.45. The company’s stock had a trading volume of 2,753,335 shares, compared to its average volume of 1,539,965. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65. The stock’s 50-day moving average is $15.65 and its 200-day moving average is $14.65. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -15.93, a PEG ratio of 0.66 and a beta of 1.86. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. Pebblebrook Hotel Trust had a negative return on equity of 2.65% and a negative net margin of 5.49%. The firm had revenue of $314.10 million for the quarter, compared to analysts’ expectations of $304.34 million. During the same period in the previous year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -4.12%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PEB. Truist Financial lifted their target price on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a report on Thursday, January 18th. Bank of America lowered shares of Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price objective for the company. in a report on Monday, January 8th. Finally, Compass Point reaffirmed a neutral rating and issued a $17.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Pebblebrook Hotel Trust currently has a consensus rating of Hold and a consensus target price of $14.78.

Insider Activity at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.62, for a total value of $178,708.42. Following the transaction, the insider now directly owns 254,449 shares of the company’s stock, valued at $3,974,493.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by company 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.