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

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.49-1.61 for the period, compared to the consensus estimate of $1.55. Pebblebrook Hotel Trust also updated its Q2 guidance to $0.59-0.63 EPS.

Analyst Ratings Changes

PEB has been the topic of several analyst reports. Compass Point restated a neutral rating and set a $17.00 price target on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. Bank of America lowered 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 report on Monday, January 8th. Finally, Truist Financial increased 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. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $14.78.

Pebblebrook Hotel Trust Price Performance

Shares of NYSE:PEB traded up $0.37 during midday trading on Tuesday, reaching $15.45. 2,753,335 shares of the company were exchanged, compared to its average volume of 1,539,965. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The business’s fifty day moving average is $15.65 and its two-hundred day moving average is $14.65. Pebblebrook Hotel Trust has a one year low of $11.39 and a one year high of $16.65. The stock has a market cap of $1.86 billion, a PE ratio of -15.93, a price-to-earnings-growth ratio of 0.66 and a beta of 1.86.

Pebblebrook Hotel Trust (NYSE:PEB) last released its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.15 by $0.06. Pebblebrook Hotel Trust had a negative net margin of 5.49% and a negative return on equity of 2.65%. The business had revenue of $334.10 million during the quarter, compared to analyst estimates of $325.42 million. During the same quarter last year, the business earned $0.20 earnings per share. Pebblebrook Hotel Trust’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, analysts predict that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.26%. Pebblebrook Hotel Trust’s dividend payout ratio is presently -4.12%.

Insider Activity at Pebblebrook Hotel Trust

In related news, insider Thomas Charles Fisher sold 11,441 shares of the company’s stock in a transaction on 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by 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.