Pebblebrook Hotel Trust (NYSE:PEB) Releases Q3 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) updated its third quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.49-$0.53 for the period, compared to the consensus earnings per share estimate of $0.53. Pebblebrook Hotel Trust also updated its Q3 2024 guidance to 0.490-0.530 EPS.

Pebblebrook Hotel Trust Price Performance

Pebblebrook Hotel Trust stock opened at $14.11 on Friday. The company has a market capitalization of $1.70 billion, a PE ratio of -13.83, a P/E/G ratio of 0.60 and a beta of 1.84. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average price of $13.06 and a two-hundred day moving average price of $14.11. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.42). Pebblebrook Hotel Trust had a negative return on equity of 3.40% and a negative net margin of 6.75%. The company had revenue of $397.11 million for the quarter, compared to analyst estimates of $396.29 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts expect that Pebblebrook Hotel Trust will post 1.51 EPS for the current year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.01 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.28%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is -3.92%.

Wall Street Analysts Forecast Growth

PEB has been the subject of several recent analyst reports. StockNews.com cut shares of Pebblebrook Hotel Trust from a hold rating to a sell rating in a research note on Monday. Wells Fargo & Company lowered their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an equal weight rating for the company in a report on Friday, September 13th. Finally, Truist Financial cut their target price on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating on the stock in a research note on Thursday, May 30th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $13.92.

Insider Buying and Selling at Pebblebrook Hotel Trust

In related news, Director Phillip M. Miller sold 3,500 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total value of $46,515.00. Following the completion of the sale, the director now directly owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Phillip M. Miller sold 3,500 shares of Pebblebrook Hotel Trust stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total transaction of $46,515.00. Following the transaction, the director now owns 13,098 shares in the company, valued at approximately $174,072.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jon E. Bortz bought 66,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $11.98 per share, with a total value of $790,680.00. Following the acquisition, the chief executive officer now directly owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by corporate 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.