Pebblebrook Hotel Trust (NYSE:PEB) Releases Q3 Earnings Guidance

Pebblebrook Hotel Trust (NYSE:PEB) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.70-0.74 for the period, compared to the Thomson Reuters consensus estimate of $0.75. Pebblebrook Hotel Trust also updated its FY17 guidance to $2.45-2.53 EPS.

Several analysts recently commented on the stock. BidaskClub downgraded shares of Pebblebrook Hotel Trust from a hold rating to a sell rating in a report on Monday, July 31st. Zacks Investment Research raised shares of Pebblebrook Hotel Trust from a sell rating to a hold rating in a report on Tuesday, August 1st. ValuEngine downgraded shares of Pebblebrook Hotel Trust from a buy rating to a hold rating in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) downgraded shares of Pebblebrook Hotel Trust from a neutral rating to a sell rating and cut their price objective for the company from $27.00 to $26.00 in a report on Wednesday, August 2nd. Finally, Boenning Scattergood reissued a hold rating on shares of Pebblebrook Hotel Trust in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Pebblebrook Hotel Trust has an average rating of Hold and a consensus target price of $31.92.

Shares of Pebblebrook Hotel Trust (NYSE:PEB) traded down 0.43% during mid-day trading on Tuesday, hitting $32.73. 1,114,787 shares of the stock were exchanged. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 119.02 and a beta of 1.24. Pebblebrook Hotel Trust has a 52 week low of $23.56 and a 52 week high of $34.38. The stock’s 50-day moving average is $32.94 and its 200-day moving average is $30.56.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Pebblebrook Hotel Trust had a net margin of 5.09% and a return on equity of 2.59%. The firm had revenue of $205.72 million during the quarter, compared to the consensus estimate of $199.30 million. During the same quarter last year, the company earned $0.81 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. Analysts forecast that Pebblebrook Hotel Trust will post $1.03 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.62%. Pebblebrook Hotel Trust’s dividend payout ratio (DPR) is currently 506.68%.

Pebblebrook Hotel Trust declared that its board has approved a share repurchase plan on Thursday, July 27th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase up to 4.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.