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

Pebblebrook Hotel Trust (NYSE:PEB) announced a quarterly dividend on Monday, September 16th, NASDAQ reports. Investors of record on Monday, September 30th will be given a dividend of 0.01 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.04 annualized dividend and a 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 research 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 Trading Down 0.1 %

Shares of NYSE PEB opened at $13.55 on Friday. Pebblebrook Hotel Trust has a 12-month low of $11.39 and a 12-month high of $16.65. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -13.28, a price-to-earnings-growth ratio of 0.66 and a beta of 1.84. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $13.07 and its 200 day simple moving average is $14.03.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $397.11 million during the quarter, compared to the consensus estimate of $396.29 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Pebblebrook Hotel Trust will post 1.51 EPS for the current year.

Insider Buying and Selling at Pebblebrook Hotel Trust

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

Wall Street Analysts Forecast Growth

PEB has been the subject of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Pebblebrook Hotel Trust from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. StockNews.com downgraded Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.92.

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.