Pebblebrook Hotel Trust (NYSE:PEB) Posts Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Pebblebrook Hotel Trust beat quarterly earnings expectations, reporting EPS of $0.17 versus the $0.12 consensus estimate. Revenue was $407.14 million, also above expectations of $400.05 million.
• Shares fell 1.0% to $19.18 despite the earnings beat, while the stock remained near its 52-week high of $19.93. The company reported a negative net margin of 4.18% and negative return on equity of 2.41%.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and average price target of $16.90. Pebblebrook also declared a quarterly dividend of $0.01 per share, representing a 0.2% annualized yield.

Pebblebrook Hotel Trust (NYSE:PEB - Get Free Report) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05, FiscalAI reports. The business had revenue of $407.14 million for the quarter, compared to the consensus estimate of $400.05 million. Pebblebrook Hotel Trust had a negative return on equity of 2.41% and a negative net margin of 4.18%.

Pebblebrook Hotel Trust Trading Down 1.0%

PEB stock traded down $0.19 during trading on Wednesday, reaching $19.18. 2,433,213 shares of the stock traded hands, compared to its average volume of 2,466,485. The business's 50 day moving average price is $17.85 and its 200-day moving average price is $14.63. Pebblebrook Hotel Trust has a 52-week low of $9.30 and a 52-week high of $19.93. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $2.17 billion, a PE ratio of -23.97, a P/E/G ratio of 1.33 and a beta of 1.39.

Pebblebrook Hotel Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, June 30th. Pebblebrook Hotel Trust's payout ratio is -5.00%.

Analyst Upgrades and Downgrades

PEB has been the topic of a number of analyst reports. BMO Capital Markets restated a "market perform" rating and set a $17.00 target price on shares of Pebblebrook Hotel Trust in a research report on Friday, June 12th. Zacks Research raised Pebblebrook Hotel Trust from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 15th. Cantor Fitzgerald lifted their price target on Pebblebrook Hotel Trust from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Wednesday, May 13th. Wells Fargo & Company upped their price objective on shares of Pebblebrook Hotel Trust from $16.00 to $19.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Finally, LADENBURG THALM/SH SH increased their price objective on shares of Pebblebrook Hotel Trust from $15.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $16.90.

Hedge Funds Weigh In On Pebblebrook Hotel Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC grew its holdings in shares of Pebblebrook Hotel Trust by 32.8% during the 4th quarter. Quadrant Capital Group LLC now owns 3,220 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 796 shares during the period. Amundi lifted its position in Pebblebrook Hotel Trust by 1.1% during the fourth quarter. Amundi now owns 81,472 shares of the real estate investment trust's stock valued at $922,000 after buying an additional 857 shares in the last quarter. Inspire Investing LLC grew its stake in Pebblebrook Hotel Trust by 4.9% during the fourth quarter. Inspire Investing LLC now owns 41,478 shares of the real estate investment trust's stock worth $470,000 after buying an additional 1,931 shares during the period. Federation des caisses Desjardins du Quebec increased its position in shares of Pebblebrook Hotel Trust by 26.7% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 9,346 shares of the real estate investment trust's stock worth $106,000 after acquiring an additional 1,972 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Pebblebrook Hotel Trust by 4.5% during the 4th quarter. Stifel Financial Corp now owns 53,834 shares of the real estate investment trust's stock valued at $609,000 after acquiring an additional 2,326 shares in the last quarter.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust NYSE: PEB is a real estate investment trust specializing in premium, high-barrier-to-entry hotel properties in gateway markets across the United States. Established in 2009, PEB focuses on lifestyle-oriented lodging assets that cater to business and leisure travelers seeking elevated experiences. The company's investment strategy emphasizes select-service and full-service hotels with established brands and prime urban or resort locations.

PEB's portfolio comprises more than 30 properties in major metropolitan areas including New York City, Los Angeles, Chicago, Miami and San Francisco.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.