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

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

Pebblebrook Hotel Trust Price Performance

Shares of Pebblebrook Hotel Trust stock remained flat at $15.00 during trading on Friday. 107,793 shares of the company traded hands, compared to its average volume of 1,565,489. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.46. Pebblebrook Hotel Trust has a one year low of $11.39 and a one year high of $16.65. The stock has a market capitalization of $1.81 billion, a PE ratio of -14.71, a price-to-earnings-growth ratio of 0.71 and a beta of 1.86. The firm’s 50 day moving average is $15.63 and its 200-day moving average is $14.67.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data 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). Pebblebrook Hotel Trust had a negative return on equity of 2.88% and a negative net margin of 5.84%. The business had revenue of $314.10 million during the quarter, compared to the consensus estimate of $304.34 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts predict that Pebblebrook Hotel Trust will post 1.57 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have commented on PEB shares. Truist Financial upped their price target on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a hold rating in a research report on Thursday, January 18th. Compass Point reaffirmed a neutral rating and set a $17.00 price target on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. StockNews.com raised shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a research report on Wednesday. Finally, Bank of America cut shares of Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price target on the stock. in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, Pebblebrook Hotel Trust presently has an average rating of Hold and a consensus price target of $14.78.

Insider Activity

In related news, insider Thomas Charles Fisher sold 11,441 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.62, for a total value of $178,708.42. Following the sale, the insider now owns 254,449 shares in the company, valued at approximately $3,974,493.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.