Pebblebrook Hotel Trust (NYSE:PEB) Issues Q2 2024 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) updated its second quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.590-0.630 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.

Pebblebrook Hotel Trust Trading Up 2.5 %

NYSE PEB traded up $0.37 on Tuesday, hitting $15.45. The company’s stock had a trading volume of 2,753,335 shares, 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 firm has a market cap of $1.86 billion, a P/E ratio of -15.93, a PEG ratio of 0.66 and a beta of 1.86. The company’s 50-day simple moving average is $15.65 and its 200 day simple moving average is $14.65. 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 quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.21 earnings per share (EPS) 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 company 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 earnings per share. Pebblebrook Hotel Trust’s revenue was up 2.7% on a year-over-year basis. Research analysts predict that Pebblebrook Hotel Trust will post 1.57 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

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 dividend of $0.01 per share. 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 (DPR) is presently -4.12%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, insider Thomas Charles Fisher sold 11,441 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

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.