Pebblebrook Hotel Trust (NYSE:PEB) Updates Q3 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $0.49-$0.53 for the period, compared to the consensus earnings per share estimate of $0.53. Pebblebrook Hotel Trust also updated its Q3 2024 guidance to 0.490-0.530 EPS.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE PEB opened at $14.11 on Friday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -13.83, a P/E/G ratio of 0.60 and a beta of 1.84. The business’s 50-day simple moving average is $13.06 and its 200-day simple moving average is $14.11. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.71 and a current ratio of 0.71. Pebblebrook Hotel Trust has a 52 week low of $11.39 and a 52 week high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last released its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.42). The business had revenue of $397.11 million during the quarter, compared to analyst estimates of $396.29 million. Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. As a group, equities research analysts expect that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently -3.92%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PEB shares. StockNews.com lowered Pebblebrook Hotel Trust from a hold rating to a sell rating in a report on Monday. Wells Fargo & Company lowered their target price on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an equal weight rating on the stock in a report on Friday, September 13th. Finally, Truist Financial decreased their price objective on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating on the stock in a report on Thursday, May 30th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, Pebblebrook Hotel Trust presently has a consensus rating of Hold and an average price target of $13.92.

Insider Buying and Selling

In related news, Director Phillip M. Miller sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total transaction of $46,515.00. Following the completion of the transaction, the director now owns 13,098 shares in the company, valued at approximately $174,072.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 66,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $11.98 per share, for a total transaction of $790,680.00. Following the transaction, the chief executive officer now owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Phillip M. Miller sold 3,500 shares of Pebblebrook Hotel Trust stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total value of $46,515.00. Following the completion of the transaction, the director now owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The disclosure for this sale can be found here. 2.40% of the stock is 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.