Pebblebrook Hotel Trust (NYSE:PEB) Issues FY24 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $1.49-1.61 for the period, compared to the consensus EPS estimate of $1.55. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PEB. Bank of America lowered shares of Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 target price for the company. in a report on Monday, January 8th. Truist Financial lifted their target price on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a hold rating in a report on Thursday, January 18th. StockNews.com raised shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a report on Wednesday. Finally, Compass Point reaffirmed a neutral rating and set a $17.00 target price on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $14.78.

Pebblebrook Hotel Trust Stock Performance

Pebblebrook Hotel Trust stock remained flat at $15.00 during trading on Friday. 107,793 shares of the company were exchanged, compared to its average volume of 1,565,489. The company has a fifty day moving average of $15.63 and a 200-day moving average of $14.67. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -14.71, a PEG ratio of 0.71 and a beta of 1.86. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.46 and a quick ratio of 0.97.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.48). Pebblebrook Hotel Trust had a negative net margin of 5.84% and a negative return on equity of 2.88%. The company had revenue of $314.10 million during the quarter, compared to analyst estimates of $304.34 million. During the same period in the prior year, the business posted $0.18 EPS. Pebblebrook Hotel Trust’s revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.27%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is presently -3.92%.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of Pebblebrook Hotel Trust stock in a transaction on Monday, February 26th. The shares were sold at an average price of $15.62, for a total transaction of $178,708.42. Following the sale, the insider now owns 254,449 shares of the company’s stock, valued at approximately $3,974,493.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.