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

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.490-1.610 for the period, compared to the consensus earnings per share estimate of 1.590. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY24 guidance to $1.49-1.61 EPS.

Wall Street Analysts Forecast Growth

PEB has been the subject of several recent research reports. Compass Point reaffirmed a neutral rating and set a $17.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Bank of America downgraded 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 report on Monday, January 8th. Finally, Truist Financial lifted their price target on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a report on Thursday, January 18th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, Pebblebrook Hotel Trust 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 trading on Tuesday, reaching $15.45. 2,753,335 shares of the company traded hands, compared to its average volume of 1,539,965. The firm has a market capitalization of $1.86 billion, a PE ratio of -15.93, a PEG ratio of 0.66 and a beta of 1.86. Pebblebrook Hotel Trust has a 52 week low of $11.39 and a 52 week high of $16.65. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.81. The company’s 50 day moving average is $15.65 and its two-hundred day moving average is $14.65.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. Pebblebrook Hotel Trust had a negative return on equity of 2.65% and a negative net margin of 5.49%. The business had revenue of $314.10 million during the quarter, compared to the consensus estimate of $304.34 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. Pebblebrook Hotel Trust’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Pebblebrook Hotel Trust will post 1.57 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, April 15th. Shareholders of record on Friday, March 29th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio is presently -4.12%.

Insider Transactions at Pebblebrook Hotel Trust

In other news, insider Thomas Charles Fisher sold 11,441 shares of the 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 completion of the transaction, the insider now owns 254,449 shares of the company’s stock, valued at $3,974,493.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.