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

Pebblebrook Hotel Trust (NYSE:PEB) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.49-1.61 for the period, compared to the consensus earnings per share estimate of $1.55. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEB. Bank of America lowered Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 target price for the company. in a report on Monday, January 8th. Truist Financial lifted their price target on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a hold rating in a research report on Thursday, January 18th. Compass Point reiterated a neutral rating and set a $17.00 price target on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Finally, StockNews.com upgraded Pebblebrook Hotel Trust from a sell rating to a hold rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $14.78.

Pebblebrook Hotel Trust Stock Down 3.8 %

Pebblebrook Hotel Trust stock traded down $0.60 during mid-day trading on Thursday, hitting $15.00. The company had a trading volume of 3,488,428 shares, compared to its average volume of 1,583,958. 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 stock’s 50 day moving average price is $15.63 and its two-hundred day moving average price is $14.67. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65. The company has a market capitalization of $1.80 billion, a PE ratio of -14.71, a price-to-earnings-growth ratio of 0.70 and a beta of 1.86.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.48). The business had revenue of $314.10 million for the quarter, compared to the consensus estimate of $304.34 million. Pebblebrook Hotel Trust had a negative net margin of 5.84% and a negative return on equity of 2.85%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. As a group, sell-side analysts anticipate that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Wednesday, March 27th. Pebblebrook Hotel Trust’s payout ratio is currently -3.92%.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of the stock in a transaction dated 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 owns 254,449 shares of the company’s stock, valued at $3,974,493.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.