Pebblebrook Hotel Trust Declares Quarterly Dividend of $0.01 (NYSE:PEB)

Pebblebrook Hotel Trust (NYSE:PEB) announced a quarterly dividend on Monday, September 16th, NASDAQ reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.01 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Monday, September 30th.

Pebblebrook Hotel Trust has raised its dividend by an average of 58.7% per year over the last three years. Pebblebrook Hotel Trust has a payout ratio of -9.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Pebblebrook Hotel Trust to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.6%.

Pebblebrook Hotel Trust Trading Down 0.5 %

PEB opened at $12.90 on Tuesday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -12.65, a price-to-earnings-growth ratio of 0.60 and a beta of 1.84. The company’s 50 day simple moving average is $13.03 and its two-hundred day simple moving average is $14.14. Pebblebrook Hotel Trust has a 1-year low of $11.39 and a 1-year high of $16.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.71.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.42). 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 3.40% and a negative net margin of 6.75%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. Analysts expect that Pebblebrook Hotel Trust will post 1.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PEB has been the topic of several recent analyst reports. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Monday. Wells Fargo & Company decreased their price objective on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Truist Financial cut their target price on 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. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.92.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other news, Director Phillip M. Miller sold 3,500 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was 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 directly owns 13,098 shares in the company, valued at $174,072.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Pebblebrook Hotel Trust news, CEO Jon E. Bortz bought 22,000 shares of Pebblebrook Hotel Trust stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $12.21 per share, for a total transaction of $268,620.00. Following the acquisition, the chief executive officer now directly owns 1,341,284 shares in the company, valued at $16,377,077.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip M. Miller sold 3,500 shares of the firm’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 directly owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate 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.