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

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its FY24 earnings guidance on Tuesday morning. 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 Q2 guidance to $0.59-0.63 EPS.

Pebblebrook Hotel Trust Price Performance

Shares of Pebblebrook Hotel Trust stock traded up $0.37 during trading on Tuesday, reaching $15.45. 2,753,335 shares of the stock traded hands, compared to its average volume of 1,539,965. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -15.93, a P/E/G ratio of 0.66 and a beta of 1.86. The business has a fifty day simple moving average of $15.65 and a two-hundred day simple moving average of $14.65. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.97 and a quick ratio of 0.97. 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 issued its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.21 earnings per share 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 firm had revenue of $334.10 million during the quarter, compared to analyst estimates of $325.42 million. During the same quarter last year, the business posted $0.20 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts expect that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.26%. Pebblebrook Hotel Trust’s payout ratio is currently -4.12%.

Analyst Ratings Changes

PEB has been the topic of several research reports. Truist Financial raised their price objective on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a report on Thursday, January 18th. Bank of America downgraded Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price target on the stock. in a report on Monday, January 8th. Finally, Compass Point reissued a neutral rating and issued a $17.00 price objective on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $14.78.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $15.62, for a total transaction of $178,708.42. Following the completion of the transaction, the insider now owns 254,449 shares in the company, valued at approximately $3,974,493.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.