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

Pebblebrook Hotel Trust (NYSE:PEB) announced a quarterly dividend on Monday, September 16th, NASDAQ reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.01 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, September 30th.

Pebblebrook Hotel Trust has raised its dividend by an average of 58.7% annually over the last three years. Pebblebrook Hotel Trust has a dividend payout ratio of -9.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Pebblebrook Hotel Trust to earn $1.55 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 2.6%.

Pebblebrook Hotel Trust Price Performance

Shares of PEB opened at $13.26 on Wednesday. Pebblebrook Hotel Trust has a 12 month low of $11.39 and a 12 month high of $16.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a fifty day moving average price of $13.04 and a 200 day moving average price of $14.12. The company has a market cap of $1.60 billion, a P/E ratio of -13.00, a PEG ratio of 0.60 and a beta of 1.84.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.42). Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. The firm had revenue of $397.11 million for the quarter, compared to analyst estimates of $396.29 million. During the same period last year, the firm posted $0.62 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts forecast that Pebblebrook Hotel Trust will post 1.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PEB shares. Truist Financial cut their price target on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Wells Fargo & Company reduced their price target on Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, Pebblebrook Hotel Trust presently has a consensus rating of “Hold” and a consensus target price of $13.92.

Insider Transactions at Pebblebrook Hotel Trust

In other news, CEO Jon E. Bortz bought 66,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $11.98 per share, with a total value of $790,680.00. Following the completion of the purchase, the chief executive officer now directly owns 1,319,284 shares of the company’s stock, valued at approximately $15,805,022.32. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Jon E. Bortz purchased 22,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $12.21 per share, with a total value of $268,620.00. Following the completion of the acquisition, the chief executive officer now owns 1,341,284 shares of the company’s stock, valued at $16,377,077.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jon E. Bortz acquired 66,000 shares of Pebblebrook Hotel Trust stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $11.98 per share, with a total value of $790,680.00. Following the completion of the purchase, the chief executive officer now owns 1,319,284 shares in the company, valued at $15,805,022.32. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.

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.