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 EPS guidance of 0.490-0.530 for the period, compared to the consensus EPS estimate of 0.520. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its Q3 guidance to $0.49-$0.53 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PEB shares. Wells Fargo & Company lowered their target price on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an equal weight rating for the company in a research note on Friday, September 13th. Truist Financial decreased their target price on shares of Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating for the company in a research note on Thursday, May 30th. Finally, StockNews.com lowered shares of 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 given 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 $13.92.

Pebblebrook Hotel Trust Stock Performance

Shares of PEB opened at $14.31 on Friday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -14.03, a PEG ratio of 0.61 and a beta of 1.84. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $13.08 and its two-hundred day moving average is $14.08. Pebblebrook Hotel Trust has a 52-week low of $11.39 and a 52-week high of $16.65.

Pebblebrook Hotel Trust (NYSE:PEB) last issued 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 company had revenue of $397.11 million during the quarter, compared to the consensus estimate of $396.29 million. During the same quarter last year, the firm posted $0.62 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts forecast that Pebblebrook Hotel Trust will post 1.51 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. Pebblebrook Hotel Trust’s payout ratio is -3.92%.

Insider Buying and Selling

In other news, CEO Jon E. Bortz acquired 22,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $12.21 per share, with a total value of $268,620.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,341,284 shares in the company, valued at $16,377,077.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz acquired 22,000 shares of the firm’s stock in a transaction on 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 completion of the acquisition, the chief executive officer now directly owns 1,341,284 shares in the company, valued at approximately $16,377,077.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Phillip M. Miller sold 3,500 shares of the business’s 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 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. Insiders own 2.40% of the company’s stock.

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.