Pebblebrook Hotel Trust (NYSE:PEB) Updates Q2 2024 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.590-0.630 for the period, compared to the consensus EPS estimate of 0.560. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.

Pebblebrook Hotel Trust Stock Performance

PEB remained flat at $15.00 during trading on Friday. 179,548 shares of the company traded hands, compared to its average volume of 1,566,420. The company has a market cap of $1.81 billion, a P/E ratio of -14.71, a PEG ratio of 0.71 and a beta of 1.86. The stock has a 50-day moving average price of $15.63 and a 200-day moving average price of $14.67. Pebblebrook Hotel Trust has a 52 week low of $11.39 and a 52 week high of $16.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.97 and a current ratio of 0.46.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results on Tuesday, April 23rd. The real estate investment trust reported ($0.32) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.48). The company had revenue of $314.10 million for the quarter, compared to analysts’ expectations of $304.34 million. Pebblebrook Hotel Trust had a negative net margin of 5.84% and a negative return on equity of 2.88%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 earnings per share. Equities analysts expect that Pebblebrook Hotel Trust will post 1.57 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. Pebblebrook Hotel Trust’s payout ratio is currently -3.92%.

Analyst Ratings Changes

A number of brokerages have commented on PEB. Compass Point reissued a neutral rating and issued a $17.00 price objective on shares of Pebblebrook Hotel Trust in a research note on Thursday, March 28th. Bank of America lowered shares of 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. StockNews.com upgraded shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a report on Wednesday. Finally, Truist Financial raised their target price on shares of Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the stock a hold rating in a report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $14.78.

Insider Activity at Pebblebrook Hotel Trust

In related news, insider Thomas Charles Fisher sold 11,441 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $15.62, for a total transaction of $178,708.42. Following the completion of the sale, the insider now owns 254,449 shares in the company, valued at approximately $3,974,493.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by company 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.