Pebblebrook Hotel Trust (NYSE:PEB) Updates Q3 Earnings Guidance

by · The Markets Daily

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PEB shares. StockNews.com cut Pebblebrook Hotel Trust from a hold rating to a sell rating in a research note on Monday, September 16th. Truist Financial dropped 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 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 on the stock in a report on Friday, September 13th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Pebblebrook Hotel Trust presently has an average rating of Hold and a consensus target price of $13.92.

Get Our Latest Stock Analysis on Pebblebrook Hotel Trust

Pebblebrook Hotel Trust Trading Up 1.3 %

Pebblebrook Hotel Trust stock opened at $14.30 on Friday. Pebblebrook Hotel Trust has a 1 year low of $11.39 and a 1 year high of $16.65. The firm’s 50 day moving average price is $13.08 and its two-hundred day moving average price is $14.10. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -14.02, a price-to-earnings-growth ratio of 0.61 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $396.29 million. During the same period in the previous year, the business posted $0.62 EPS. Pebblebrook Hotel Trust’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts predict that Pebblebrook Hotel Trust will post 1.51 EPS for the current fiscal year.

Pebblebrook Hotel Trust Dividend Announcement

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

Insider Buying and Selling at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz bought 22,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of $12.21 per share, for a total transaction of $268,620.00. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Phillip M. Miller sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total value of $46,515.00. Following the completion of the sale, the director now directly owns 13,098 shares in the company, valued at approximately $174,072.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon E. Bortz acquired 22,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $12.21 per share, for a total transaction of $268,620.00. Following the transaction, the chief executive officer now directly owns 1,341,284 shares in the company, valued at $16,377,077.64. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company’s stock.

About Pebblebrook Hotel Trust

(Get Free Report)

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.

Further Reading