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

Pebblebrook Hotel Trust (NYSE:PEB) announced a quarterly dividend on Friday, March 14th, NASDAQ Dividends reports. Investors of record on Monday, March 31st will be given a dividend of 0.01 per share by the real estate investment trust on Tuesday, April 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Monday, March 31st.

Pebblebrook Hotel Trust has increased its dividend by an average of 10.1% annually over the last three years. Pebblebrook Hotel Trust has a dividend payout ratio of -10.3% indicating that 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 $1.47 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 Down 1.6 %

Shares of PEB opened at $10.15 on Friday. The stock’s 50-day moving average price is $12.06 and its 200-day moving average price is $12.85. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -35.01, a PEG ratio of 0.60 and a beta of 1.87. Pebblebrook Hotel Trust has a 52 week low of $9.96 and a 52 week high of $16.06.

Wall Street Analysts Forecast Growth

PEB has been the subject of several recent analyst reports. Raymond James set a $14.00 price target on Pebblebrook Hotel Trust and gave the company an “outperform” rating in a research note on Thursday, February 27th. Wells Fargo & Company reduced their target price on Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Wedbush cut shares of Pebblebrook Hotel Trust from a “neutral” rating to an “underperform” rating and set a $13.00 price target on the stock. in a research note on Thursday, January 2nd. StockNews.com cut shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 5th. Finally, Truist Financial dropped their target price on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Pebblebrook Hotel Trust has a consensus rating of “Hold” and an average price target of $13.86.

Pebblebrook Hotel Trust Company Profile

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.