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

Pebblebrook Hotel Trust (NYSE:PEB) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.570-1.600 for the period, compared to the consensus EPS estimate of 1.610. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its Q4 guidance to $0.08 to $0.11 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial dropped their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Wells Fargo & Company cut their target price on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Robert W. Baird lowered their price target on Pebblebrook Hotel Trust from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.75.

Pebblebrook Hotel Trust Stock Performance

Shares of NYSE PEB traded up $0.12 during midday trading on Thursday, hitting $13.26. 2,000,842 shares of the stock traded hands, compared to its average volume of 1,672,964. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.71 and a current ratio of 0.71. Pebblebrook Hotel Trust has a one year low of $11.39 and a one year high of $16.65. The firm has a market capitalization of $1.60 billion, a P/E ratio of -12.05, a PEG ratio of 0.57 and a beta of 1.85. The firm has a 50-day moving average of $12.89 and a two-hundred day moving average of $13.46.

Pebblebrook Hotel Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Monday, September 30th. Pebblebrook Hotel Trust’s payout ratio is currently -3.64%.

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 22,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average price of $12.21 per share, with a total value of $268,620.00. Following the transaction, the chief executive officer now directly owns 1,341,284 shares in the company, valued at approximately $16,377,077.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by 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.