Fri Sep 20 12:41:59 UTC 2024: ## Pebblebrook Hotel Trust Misses Q3 Earnings Estimates, Stock Remains Under Pressure

**New York, NY -** Pebblebrook Hotel Trust (NYSE: PEB) announced on Friday a disappointing Q3 2024 earnings guidance, falling short of analysts’ expectations. The company projected earnings per share (EPS) to be between $0.49 and $0.53, compared to the consensus estimate of $0.53.

The news comes after the REIT missed earnings estimates in the previous quarter, reporting $0.16 EPS against an expected $0.58. While Pebblebrook Hotel Trust saw a 3.3% year-over-year revenue increase in Q2, analysts are concerned about the continued underperformance.

The company’s stock opened at $14.11 on Friday, hovering near its 50-day simple moving average of $13.06. The stock has faced volatility throughout the year, with a 12-month low of $11.39 and a 12-month high of $16.65.

Analysts remain cautious about Pebblebrook Hotel Trust’s future prospects, with several brokerages recently downgrading their ratings and price targets. StockNews.com downgraded the stock from a hold to a sell rating, while Truist Financial and Wells Fargo & Company lowered their price targets to $15.00 and $13.00 respectively. The company currently holds a consensus “Hold” rating with a price target of $13.92.

Insiders have also been active in the market, with Director Phillip M. Miller selling 3,500 shares in June, and CEO Jon E. Bortz buying 22,000 shares in August.

Pebblebrook Hotel Trust, the largest owner of urban and resort lifestyle hotels in the US, owns 47 properties with approximately 12,200 guest rooms. The company’s performance will be closely watched as it navigates the current economic climate and the ongoing recovery of the travel industry.

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