Pebblebrook Hotel Trust (NYSE:PEB) Updates Q2 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.59-0.63 for the period, compared to the consensus earnings per share estimate of $0.56. Pebblebrook Hotel Trust also updated its FY24 guidance to $1.49-1.61 EPS.

Analysts Set New Price Targets

Several equities analysts have issued reports on PEB shares. Compass Point reissued a neutral rating and issued a $17.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. Truist Financial boosted their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a hold rating in a research note on Thursday, January 18th. Finally, Bank of America cut shares of Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price objective on the stock. in a research note on Monday, January 8th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, Pebblebrook Hotel Trust has an average rating of Hold and a consensus price target of $14.78.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE:PEB traded up $0.37 on Tuesday, reaching $15.45. 2,753,335 shares of the company were exchanged, compared to its average volume of 1,539,963. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 0.97. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65. The company has a 50-day moving average of $15.65 and a 200-day moving average of $14.65.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $325.42 million. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts expect that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.01 dividend. The ex-dividend date 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 Buying and Selling at Pebblebrook Hotel Trust

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 shares were 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 in the company, valued at approximately $3,974,493.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by 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.