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

Pebblebrook Hotel Trust (NYSE:PEB) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.490-1.610 for the period, compared to the consensus estimate of 1.590. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY24 guidance to $1.49-1.61 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEB. StockNews.com raised Pebblebrook Hotel Trust from a sell rating to a hold rating in a research report on Wednesday. Compass Point reaffirmed a neutral rating and set a $17.00 target price on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Truist Financial boosted their target price on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a research report on Thursday, January 18th. Finally, Bank of America lowered Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 target price on the stock. in a research report on Monday, January 8th. 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.com, Pebblebrook Hotel Trust currently has an average rating of Hold and a consensus price target of $14.78.

Pebblebrook Hotel Trust Stock Down 3.8 %

NYSE:PEB traded down $0.60 during trading hours on Thursday, hitting $15.00. 3,488,428 shares of the company’s stock traded hands, compared to its average volume of 1,583,958. The firm has a market cap of $1.80 billion, a P/E ratio of -14.71, a P/E/G ratio of 0.70 and a beta of 1.86. Pebblebrook Hotel Trust has a twelve month low of $11.39 and a twelve month high of $16.65. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s fifty day moving average price is $15.63 and its two-hundred day moving average price is $14.67.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.48). The business had revenue of $314.10 million for the quarter, compared to analyst estimates of $304.34 million. Pebblebrook Hotel Trust had a negative net margin of 5.84% and a negative return on equity of 2.85%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. On average, research analysts expect that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

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

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of the company’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 approximately $3,974,493.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

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.