Urban hotel REIT Pebblebrook's Q3 net loss $32.4 mln, EBITDA aligns with outlook

Pebblebrook Hotel Trust

05/11/2025 21:59

Overview

Pebblebrook reports Q3 net loss of $32.4 mln, same-property EBITDA aligns with outlook

Adjusted EBITDAre for Q3 exceeds company outlook midpoint by $2.2 mln

Company completes $400 mln convertible notes offering, enhancing liquidity and extending maturities

Outlook

Pebblebrook expects 2025 net loss between $67.5 mln and $58.5 mln

Company revises 2025 Adjusted EBITDAre to $332.5 mln-$341.5 mln

Pebblebrook narrows 2025 Adjusted FFO per share to $1.50-$1.57

Result Drivers

SAN FRANCISCO DEMAND - Strong demand in San Francisco drove RevPAR growth, exceeding expectations due to citywide conventions and transient demand

EXPENSE MANAGEMENT - Operating expenses before fixed costs increased just 0.4%, reflecting successful execution of productivity and efficiency programs

CAPITAL INVESTMENTS - Strategic property redevelopments and capital investments supported financial performance and increased profitability

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Room Revenues
$254.60 mln
Q3 Net Income
-$32.40 mln
Q3 Adjusted FFO
$60.20 mln
Q3 Adjusted FFO Per Share
$0.51
Q3 Same Property EBITDA
$105.40 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 9 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the specialized reits peer group is "buy."

Wall Street's median 12-month price target for Pebblebrook Hotel Trust is $11.50, about 10.6% above its November 4 closing price of $10.28

Press Release: ID:nBw5KBc6ka

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)