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

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PEB. StockNews.com downgraded shares of Pebblebrook Hotel Trust from a hold rating to a sell rating in a report on Monday, September 16th. Truist Financial dropped their price objective 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. Finally, Wells Fargo & Company reduced their target price 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. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $13.92.

Pebblebrook Hotel Trust Trading Up 1.4 %

Pebblebrook Hotel Trust stock opened at $14.31 on Monday. The firm has a market cap of $1.72 billion, a PE ratio of -14.03, a P/E/G ratio of 0.61 and a beta of 1.84. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65. The stock’s 50 day simple moving average is $13.08 and its two-hundred day simple moving average is $14.07. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $397.11 million for the quarter, compared to analysts’ expectations of $396.29 million. During the same period last year, the company posted $0.62 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts anticipate that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current year.

Pebblebrook Hotel Trust Dividend Announcement

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

Insider Buying and Selling

In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz purchased 22,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $12.21 per share, for a total transaction of $268,620.00. Following the completion of the transaction, the chief executive officer now owns 1,341,284 shares of the company’s stock, valued at approximately $16,377,077.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Phillip M. Miller sold 3,500 shares of the business’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 completion of the sale, the director now owns 13,098 shares of the company’s stock, valued at $174,072.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon E. Bortz purchased 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of $12.21 per share, for a total transaction of $268,620.00. Following the completion of the purchase, the chief executive officer now directly owns 1,341,284 shares in the company, valued at approximately $16,377,077.64. The disclosure for this purchase can be found here. 2.40% 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.