The headline numbers for Pebblebrook Hotel (PEB) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Pebblebrook Hotel (PEB) came out with quarterly funds from operations (FFO) of $0.69 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to FFO of $0.62 per share a year ago.
The travel and vacation industry is back in full swing. Now, many investors who bought in during the COVID-19 pandemic dip are feeling the excitement of a revived market.
Pebblebrook Hotel Trust's preferred shares offer yields ranging from 7.4% to 7.6%, slightly lower than competitors. The REIT's performance in the first quarter shows strong FFO and AFFO results, with capex exceeding $30M. Full-year guidance suggests AFFO will cover capital expenditures, indicating strong preferred dividend coverage.
Pebblebrook's (PEB) May operating results witness a year-over-year increase in same-property revenues, driven by a rise in non-room revenues.
Pebblebrook's (PEB) April operating results saw a decline in same-property revenues. It has also provided updates on the completion of redevelopment projects.