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

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) announced a quarterly dividend on Tuesday, June 17th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 30th.

Pebblebrook Hotel Trust has a payout ratio of -9.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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

Shares of PEB traded down $0.04 during mid-day trading on Friday, reaching $9.57. The company had a trading volume of 1,156,096 shares, compared to its average volume of 2,033,314. Pebblebrook Hotel Trust has a 52-week low of $7.41 and a 52-week high of $15.12. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $1.14 billion, a P/E ratio of -19.91 and a beta of 1.74. The stock has a 50 day moving average of $9.27 and a two-hundred day moving average of $11.29.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $320.27 million during the quarter, compared to the consensus estimate of $311.74 million. Pebblebrook Hotel Trust had a negative return on equity of 0.32% and a negative net margin of 0.61%. Pebblebrook Hotel Trust's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. On average, analysts expect that Pebblebrook Hotel Trust will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Truist Financial set a $9.00 price objective on Pebblebrook Hotel Trust and gave the company a "hold" rating in a research note on Monday, June 2nd. Wedbush set a $9.00 target price on shares of Pebblebrook Hotel Trust and gave the company an "underperform" rating in a research report on Tuesday, May 6th. Stifel Nicolaus decreased their price target on shares of Pebblebrook Hotel Trust from $16.50 to $13.25 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Compass Point lowered shares of Pebblebrook Hotel Trust from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $17.00 to $15.00 in a research report on Monday, March 10th. Finally, Evercore ISI dropped their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $11.00 and set an "in-line" rating for the company in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Pebblebrook Hotel Trust currently has a consensus rating of "Hold" and a consensus target price of $12.28.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

Several hedge funds and other institutional investors have recently bought and sold shares of PEB. Caxton Associates LLP purchased a new stake in Pebblebrook Hotel Trust in the first quarter valued at $310,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Pebblebrook Hotel Trust by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,002 shares of the real estate investment trust's stock worth $719,000 after purchasing an additional 3,075 shares during the period. AQR Capital Management LLC increased its position in shares of Pebblebrook Hotel Trust by 174.6% during the 1st quarter. AQR Capital Management LLC now owns 93,371 shares of the real estate investment trust's stock worth $941,000 after purchasing an additional 59,367 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Pebblebrook Hotel Trust by 8.0% in 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 valued at $6,685,000 after buying an additional 48,640 shares during the period.

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.