Pebblebrook Hotel Trust (NYSE:PEB) Declares $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 yield of 0.37%. The ex-dividend date is Monday, March 31st.

Pebblebrook Hotel Trust has raised its dividend payment by an average of 10.1% per year 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. 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 Trading Up 2.4 %

NYSE:PEB traded up $0.25 during midday trading on Friday, reaching $10.72. 2,307,150 shares of the stock traded hands, compared to its average volume of 1,706,593. The company has a fifty day moving average of $12.63 and a 200 day moving average of $13.02. Pebblebrook Hotel Trust has a 12 month low of $10.31 and a 12 month high of $16.19. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $1.28 billion, a P/E ratio of -36.97, a PEG ratio of 0.60 and a beta of 1.87.

Analyst Ratings Changes

A number of equities research analysts recently commented on PEB shares. Truist Financial lowered their price target on shares of Pebblebrook Hotel Trust from $14.00 to $13.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. StockNews.com lowered shares of Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a report on Wednesday, March 5th. Stifel Nicolaus upgraded shares of Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating and upped their price objective for the stock from $14.75 to $15.00 in a report on Friday, November 22nd. Wells Fargo & Company decreased their price objective on shares of Pebblebrook Hotel Trust from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Finally, Raymond James set a $14.00 price objective on shares of Pebblebrook Hotel Trust and gave the stock an “outperform” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.