Pebblebrook Hotel Trust (NYSE:PEB) Releases Q3 2024 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) issued an update on its third quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.490-0.530 for the period, compared to the consensus earnings per share estimate of 0.520. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its Q3 guidance to $0.49-$0.53 EPS.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PEB shares. Truist Financial lowered their price objective on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating for the company in a research report on Thursday, May 30th. Wells Fargo & Company lowered their price target on 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, StockNews.com downgraded Pebblebrook Hotel Trust from a hold rating to a sell rating in a report on Monday, September 16th. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Pebblebrook Hotel Trust currently has an average rating of Hold and a consensus target price of $13.92.

Pebblebrook Hotel Trust Price Performance

Shares of PEB opened at $14.31 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50 day moving average price of $13.08 and a 200-day moving average price of $14.07. Pebblebrook Hotel Trust has a fifty-two week low of $11.39 and a fifty-two week high of $16.65. The stock has a market capitalization of $1.72 billion, a PE ratio of -14.03, a PEG ratio of 0.61 and a beta of 1.84.

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

Pebblebrook Hotel Trust Announces Dividend

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

Insider Activity

In related news, Director Phillip M. Miller sold 3,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 13,098 shares in the company, valued at approximately $174,072.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 66,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $11.98 per share, with a total value of $790,680.00. Following the completion of the transaction, the chief executive officer now owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Phillip M. Miller sold 3,500 shares of the stock in a transaction 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 sale, the director now owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The disclosure for this sale can be found here. Company 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.