Pebblebrook Hotel Trust (PEB) Tops Q3 AFFO by 6c

Pebblebrook Hotel Trust (NYSE: PEB) reported Q3 AFFO of $0.84, $0.06 better than the analyst estimate of $0.78. Revenue for the quarter came in at $209 million versus the consensus estimate of $214.88 million.

Same-Property RevPAR in the third quarter of 2016 decreased 0.1 percent over the same period of 2015 to $231.34. Same-Property ADR decreased 0.3 percent from the prior year quarter to $261.00. Same-Property Occupancy rose 0.2 percent to 88.6 percent. Same-Property RevPAR for our Wholly Owned properties, which excludes the Manhattan Collection, increased 0.9 percent from the prior year period. Same-Property Room Revenue for our Wholly Owned properties increased by 1.3 percent, greater than RevPAR, due to the increase in the Same-Property room count. Same-Property RevPAR for the Manhattan Collection decreased 7.1 percent and Same-Property Room Revenue for the Manhattan Collection decreased by 6.9 percent.

GUIDANCE:

Pebblebrook Hotel Trust sees FY2016 AFFO of $2.69-$2.74, versus the consensus of $2.71.

For earnings history and earnings-related data on Pebblebrook Hotel Trust (PEB) click here.

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