Pebblebrook Hotel Trust (NYSE:PEB) Announces Quarterly Earnings Results, Beats Expectations By $0.60 EPS

Key Points

• Pebblebrook Hotel Trust reported quarterly EPS of $0.63, beating consensus by $0.60, while revenue reached $402.75 million versus estimates of $393.55 million. Revenue increased 1.0% year over year, though the company posted a negative net margin and return on equity.
• Shares rose 0.9% to $21.67, near the 52-week high of $21.90. The company also maintained a quarterly dividend of $0.01 per share, equivalent to a 0.2% annualized yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $18.27, below the stock’s reported trading price.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) announced its quarterly earnings results on Thursday. The real estate investment trust reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.60, Zacks reports. The firm had revenue of $402.75 million during the quarter, compared to analyst estimates of $393.55 million. Pebblebrook Hotel Trust had a negative net margin of 3.11% and a negative return on equity of 1.83%. The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share.

Pebblebrook Hotel Trust Trading Up 0.9%

Shares of Pebblebrook Hotel Trust stock traded up $0.20 on Thursday, hitting $21.67. 2,088,361 shares of the company traded hands, compared to its average volume of 2,398,655. The stock's 50 day moving average price is $18.92 and its 200-day moving average price is $16.02. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.83. Pebblebrook Hotel Trust has a 52 week low of $9.99 and a 52 week high of $21.90. The company has a market cap of $2.45 billion, a PE ratio of -31.41, a PEG ratio of 1.38 and a beta of 1.43.

Pebblebrook Hotel Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Pebblebrook Hotel Trust's dividend payout ratio (DPR) is presently -5.80%.

Analysts Set New Price Targets

PEB has been the subject of a number of analyst reports. Morgan Stanley increased their price target on shares of Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the company an "underweight" rating in a report on Thursday, October 22nd. Barclays decreased their price objective on Pebblebrook Hotel Trust from $15.00 to $14.00 and set an "underweight" rating on the stock in a research report on Thursday, August 27th. LADENBURG THALM/SH SH raised their price objective on Pebblebrook Hotel Trust from $19.00 to $21.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Zacks Research raised Pebblebrook Hotel Trust from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 20th. Finally, Evercore set a $21.00 target price on Pebblebrook Hotel Trust in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Pebblebrook Hotel Trust currently has a consensus rating of "Hold" and a consensus target price of $18.27.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust NYSE: PEB is a publicly traded real estate investment trust that owns and invests in upscale, full-service hotels and resorts in the United States. The company focuses on acquiring, developing, and repositioning lodging properties in major urban and resort destinations.

Its portfolio includes hotels operating under a variety of national, regional, and independent brands. Pebblebrook generally owns the underlying real estate while hotels are operated through management agreements, providing lodging accommodations, food and beverage services, meeting and event facilities, and other guest amenities.

Founded in 2009, Pebblebrook Hotel Trust has emphasized properties in markets with strong tourism, business travel, and cultural or recreational appeal.