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

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) declared a quarterly dividend on Tuesday, June 17th, Wall Street Journal reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.01 per share by the real estate investment trust on Tuesday, July 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 30th.

Pebblebrook Hotel Trust has a payout ratio of -9.1% 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 research analysts expect Pebblebrook Hotel Trust to earn $1.47 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 2.7%.

Pebblebrook Hotel Trust Stock Performance

Pebblebrook Hotel Trust stock traded down $0.02 during midday trading on Tuesday, hitting $9.50. 2,794,441 shares of the company's stock were exchanged, compared to its average volume of 2,022,527. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -32.76, a price-to-earnings-growth ratio of 0.60 and a beta of 1.74. Pebblebrook Hotel Trust has a 12-month low of $7.41 and a 12-month high of $15.12. The firm's 50 day simple moving average is $9.24 and its 200 day simple moving average is $11.34.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $320.27 million for the quarter, compared to analysts' expectations of $311.74 million. Pebblebrook Hotel Trust had a return on equity of 0.13% and a net margin of 0.25%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. Equities research analysts predict that Pebblebrook Hotel Trust will post 1.5 EPS for the current year.

Institutional Trading of Pebblebrook Hotel Trust

A number of institutional investors have recently added to or reduced their stakes in the business. Caxton Associates LLP bought a new stake in shares of Pebblebrook Hotel Trust in the first quarter worth $310,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Pebblebrook Hotel Trust by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,002 shares of the real estate investment trust's stock valued at $719,000 after buying an additional 3,075 shares during the last quarter. AQR Capital Management LLC raised its stake in Pebblebrook Hotel Trust by 174.6% during the first quarter. AQR Capital Management LLC now owns 93,371 shares of the real estate investment trust's stock valued at $941,000 after buying an additional 59,367 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Pebblebrook Hotel Trust by 8.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 659,945 shares of the real estate investment trust's stock worth $6,685,000 after buying an additional 48,640 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PEB. Compass Point downgraded Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $17.00 to $15.00 in a research note on Monday, March 10th. Wells Fargo & Company dropped their price target on Pebblebrook Hotel Trust from $16.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Wedbush set a $9.00 price objective on shares of Pebblebrook Hotel Trust and gave the company an "underperform" rating in a research note on Tuesday, May 6th. Truist Financial set a $9.00 target price on shares of Pebblebrook Hotel Trust and gave the stock a "hold" rating in a research report on Monday, June 2nd. Finally, Raymond James set a $14.00 price target on Pebblebrook Hotel Trust and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $12.28.

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.

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