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

Pebblebrook Hotel Trust (NYSE:PEB) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.590-1.670 for the period, compared to the consensus EPS estimate of 1.570. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its Q3 2024 guidance to 0.490-0.530 EPS.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial lowered their target price on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating on the stock in a research note on Thursday, May 30th. StockNews.com upgraded shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $14.42.

Pebblebrook Hotel Trust Stock Up 0.8 %

NYSE:PEB traded up $0.11 during trading hours on Friday, reaching $13.73. The company’s stock had a trading volume of 1,270,519 shares, compared to its average volume of 1,752,334. The firm has a 50-day simple moving average of $13.80 and a 200-day simple moving average of $14.88. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.46.

Pebblebrook Hotel Trust (NYSE:PEB) last issued its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 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 analysts’ expectations of $396.29 million. Pebblebrook Hotel Trust had a negative return on equity of 3.40% and a negative net margin of 6.75%. Pebblebrook Hotel Trust’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. As a group, analysts forecast that Pebblebrook Hotel Trust will post 1.48 earnings per share for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Friday, June 28th. Pebblebrook Hotel Trust’s payout ratio is presently -3.92%.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 3,500 shares of the firm’s 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 sale, the director now owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 3,500 shares of the firm’s 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 sale, the director now owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jon E. Bortz purchased 17,000 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $13.67 per share, for a total transaction of $232,390.00. Following the acquisition, the chief executive officer now owns 1,208,284 shares in the company, valued at $16,517,242.28. The disclosure for this purchase can be found here. 2.40% of the stock is owned by corporate 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.