Pebblebrook Hotel Trust (NYSE:PEB) Updates Q3 2024 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its third quarter 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 0.490-0.530 for the period, compared to the consensus earnings per share estimate of 0.520. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its Q3 guidance to $0.49-$0.53 EPS.

Pebblebrook Hotel Trust Trading Up 5.1 %

Shares of PEB stock opened at $14.11 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -13.83, a PEG ratio of 0.60 and a beta of 1.84. The firm has a 50-day moving average price of $13.06 and a 200 day moving average price of $14.11. Pebblebrook Hotel Trust has a twelve month low of $11.39 and a twelve month high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.42). The business had revenue of $397.11 million during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 EPS. Research analysts forecast 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 declared 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 annualized dividend and a yield of 0.28%. The ex-dividend date is Monday, September 30th. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -3.92%.

Wall Street Analysts Forecast Growth

PEB has been the subject of several recent analyst reports. Truist Financial lowered their price target on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating for the company in a report on Thursday, May 30th. Wells Fargo & Company decreased their target price on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an equal weight rating for the company in a report on Friday, September 13th. Finally, StockNews.com cut Pebblebrook Hotel Trust from a hold rating to a sell rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $13.92.

Insiders Place Their Bets

In related news, CEO Jon E. Bortz purchased 22,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $12.21 per share, for a total transaction of $268,620.00. Following the acquisition, the chief executive officer now directly owns 1,341,284 shares in the company, valued at $16,377,077.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 3,500 shares of the company’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 value 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jon E. Bortz purchased 22,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $12.21 per share, with a total value of $268,620.00. Following the acquisition, the chief executive officer now owns 1,341,284 shares in the company, valued at $16,377,077.64. The disclosure for this purchase can be found here. 2.40% 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.