Pebblebrook Hotel Trust lowers Q4 earnings outlook but reports strong Q3 results, sees stock drop.

Pebblebrook Hotel Trust (NYSE: PEB) issued a lower-than-expected earnings guidance for Q4 2024, estimating EPS between $0.08 and $0.11. Despite this, the firm reported better-than-expected Q3 earnings with EPS at $0.59, driven by occupancy increases and strong out-of-room spending. The company's stock saw a recent decline to $12.95, and it has a consensus "Hold" rating with a target price of $14.30.

November 10, 2024
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