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

Pebblebrook Hotel Trust (NYSE:PEB) updated its FY 2024 earnings guidance on Tuesday. 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.

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. Pebblebrook Hotel Trust has a 52-week low of $11.39 and a 52-week high of $16.65. 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 (NYSE:PEB) last issued its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating 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 business had revenue of $314.10 million for the quarter, compared to the consensus estimate of $304.34 million. During the same period in the previous year, the firm earned $0.18 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Research analysts predict that Pebblebrook Hotel Trust will post 1.57 EPS for the current fiscal 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 given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.26%. The ex-dividend date was Wednesday, March 27th. Pebblebrook Hotel Trust’s dividend payout ratio is currently -4.12%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PEB shares. Compass Point reissued a neutral rating and set a $17.00 price target on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Bank of America cut Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 price target on the stock. in a research report on Monday, January 8th. Finally, Truist Financial raised their price objective 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. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $14.78.

Insiders Place Their Bets

In other Pebblebrook Hotel Trust news, insider Thomas Charles Fisher sold 11,441 shares of the firm’s 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 directly owns 254,449 shares of the company’s stock, valued at $3,974,493.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently 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.