Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.590-0.630 for the period, compared to the consensus earnings per share estimate of 0.560. The company issued revenue guidance of -. Pebblebrook Hotel Trust also updated its FY 2024 guidance to 1.490-1.610 EPS.
Pebblebrook Hotel Trust Trading Up 2.5 %
Shares of PEB stock traded up $0.37 on Tuesday, reaching $15.45. The company had a trading volume of 2,753,335 shares, compared to its average volume of 1,539,965. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65. The stock has a market cap of $1.86 billion, a PE ratio of -15.93, a PEG ratio of 0.66 and a beta of 1.86. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average of $15.65 and a 200-day moving average of $14.65.
Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.06. The company had revenue of $314.10 million during the quarter, compared to the consensus estimate of $304.34 million. Pebblebrook Hotel Trust had a negative net margin of 5.49% and a negative return on equity of 2.65%. The firm's revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. On average, equities analysts forecast that Pebblebrook Hotel Trust will post 1.57 earnings per share for the current year.
Pebblebrook Hotel Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.26%. Pebblebrook Hotel Trust's dividend payout ratio (DPR) is presently -4.12%.
Wall Street Analyst Weigh In
PEB has been the subject of several recent research reports. Compass Point reissued a neutral rating and set a $17.00 price target on shares of Pebblebrook Hotel Trust in a research report on Thursday, March 28th. Truist Financial increased their price objective on Pebblebrook Hotel Trust from $15.00 to $16.00 and gave the company a hold rating in a report on Thursday, January 18th. Finally, Bank of America downgraded shares of Pebblebrook Hotel Trust from a neutral rating to an underperform rating and set a $13.50 target price on the stock. in a report on Monday, January 8th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $14.78.
Check Out Our Latest Analysis on PEB
Insider Activity
In related news, insider Thomas Charles Fisher sold 11,441 shares of the business's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $15.62, for a total value of $178,708.42. Following the completion of the sale, the insider now directly owns 254,449 shares in the company, valued at approximately $3,974,493.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% 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.
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