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

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

Pebblebrook Hotel Trust has a payout ratio of -9.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 stock opened at $9.59 on Thursday. The company’s fifty day moving average price is $9.25 and its 200-day moving average price is $11.32. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.82. The stock has a market cap of $1.14 billion, a PE ratio of -19.99 and a beta of 1.74. Pebblebrook Hotel Trust has a 12 month low of $7.41 and a 12 month high of $15.12.

Pebblebrook Hotel Trust (NYSE:PEB) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. The firm had revenue of $320.27 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, equities analysts expect that Pebblebrook Hotel Trust will post 1.5 EPS for the current fiscal year.

Institutional Trading of Pebblebrook Hotel Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caxton Associates LLP purchased a new stake in Pebblebrook Hotel Trust during the 1st quarter valued at $310,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 valued at $719,000 after buying an additional 3,075 shares during the period. AQR Capital Management LLC increased its stake in Pebblebrook Hotel Trust by 174.6% in the first 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Pebblebrook Hotel Trust by 8.0% in the first 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 worth $6,685,000 after purchasing an additional 48,640 shares during the period.

Analysts Set New Price Targets

PEB has been the subject of several recent analyst reports. Wall Street Zen lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. 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. Evercore ISI dropped their price target on 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. Wedbush set a $9.00 target price on Pebblebrook Hotel Trust and gave the company an “underperform” rating in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their target price on Pebblebrook Hotel Trust from $16.50 to $13.25 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.28.

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.