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

Pebblebrook Hotel Trust (NYSE:PEB) updated 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.

Pebblebrook Hotel Trust Trading Up 1.4 %

NYSE:PEB opened at $14.31 on Friday. Pebblebrook Hotel Trust has a 52-week low of $11.39 and a 52-week high of $16.65. 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 stock has a fifty day simple moving average of $13.08 and a 200-day simple moving average of $14.08. The company has a market capitalization of $1.72 billion, a PE ratio of -14.03, a price-to-earnings-growth 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 analysts’ consensus estimates of $0.58 by ($0.42). The business had revenue of $397.11 million for the quarter, compared to analyst estimates 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 revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 EPS. On average, equities research analysts expect that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an equal weight rating on the stock in a research report on Friday, September 13th. StockNews.com cut shares of Pebblebrook Hotel Trust from a hold rating to a sell rating in a research note on Monday, September 16th. Finally, Truist Financial cut 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. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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 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 transaction, the director now directly owns 13,098 shares in the company, valued at approximately $174,072.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, 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 completion of the sale, the director now directly owns 13,098 shares of the company’s stock, valued at approximately $174,072.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon E. Bortz bought 66,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $11.98 per share, for a total transaction of $790,680.00. Following the completion of the transaction, the chief executive officer now directly owns 1,319,284 shares in the company, valued at approximately $15,805,022.32. The disclosure for this purchase can be found here. 2.40% of the stock is owned by company insiders.

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.