Pebblebrook Hotel Trust (NYSE:PEB) Issues Earnings Results, Misses Expectations By $0.42 EPS

Pebblebrook Hotel Trust (NYSE:PEB) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.42), Zacks reports. The company had revenue of $397.11 million for the quarter, compared to analysts’ expectations of $396.29 million. Pebblebrook Hotel Trust had a negative return on equity of 3.39% and a negative net margin of 6.75%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. Pebblebrook Hotel Trust updated its FY 2024 guidance to 1.590-1.670 EPS and its Q3 2024 guidance to 0.490-0.530 EPS.

Pebblebrook Hotel Trust Trading Up 0.2 %

Shares of Pebblebrook Hotel Trust stock traded up $0.03 during trading hours on Friday, reaching $13.65. The company’s stock had a trading volume of 109,858 shares, compared to its average volume of 1,549,745. The company’s 50 day simple moving average is $13.83 and its 200 day simple moving average is $14.90. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.78. Pebblebrook Hotel Trust has a one year low of $11.39 and a one year high of $16.65.

Pebblebrook Hotel Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.01 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. Pebblebrook Hotel Trust’s payout ratio is currently -3.92%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Compass Point reissued a “neutral” rating and set a $17.00 price objective on shares of Pebblebrook Hotel Trust in a report on Thursday, March 28th. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. Finally, Truist Financial reduced their price target on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.42.

Insider Buying and Selling

In other news, CEO Jon E. Bortz acquired 17,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average price of $13.67 per share, with a total value of $232,390.00. Following the acquisition, the chief executive officer now directly owns 1,208,284 shares in the company, valued at $16,517,242.28. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Pebblebrook Hotel Trust news, Director Phillip M. Miller sold 3,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 acquired 17,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Thursday, May 30th. The shares were acquired at an average price of $13.67 per share, with a total value of $232,390.00. Following the transaction, the chief executive officer now owns 1,208,284 shares in the company, valued at approximately $16,517,242.28. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company’s stock.

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.