logo
  Join        Login             Stock Quote

Pebblebrook Hotel Trust (PEB) Reduces FFO Outlook For Q4, 2012 Due To Sandy

 November 12, 2012 08:04 AM


(By Balachander) Pebblebrook Hotel Trust (NYSE: PEB) slashed its earnings outlook for the fourth quarter and 2012, citing estimated impact from Superstorm Sandy and the nor'easter last week.

"The negative impact on our business was felt at our hotels throughout the United States as cancellations, no-shows and limited new bookings combined to produce enough lost revenue and additional expenses to warrant this revision to our outlook," the real estate investment trust (REIT) said.

The Bethesda, Maryland-based company now expects adjusted Funds from Operations (FFO) per share in the range of $0.24 to $0.28 from prior expectations of $0.27 to $0.31 for the fourth quarter.

[Related -Dividend Roundup: AHT, IDCC, LHO, LII, PEB, SWY, TYC]

For 2012, Pebblebrook Hotel Trust currently projects adjusted FFO between $1.09 and $1.12 from $1.12 and $1.15 estimated earlier.

Wall Street analysts, on average, expected FFO per share of $0.31 for the fourth quarter and $1.16 for the full year.

The REIT also reduced its forecast for growth in RevPAR, margin and EBITDA.

Pebblebrook Hotel Trust acquires and invests primarily in hotel properties located in the United States.

The stock, which has been trading in the 52-week range of $16.75 to $25.36, closed at $20.38 on Friday.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageGoogle: Still Opportunities Ahead

Google (GOOGL) shares are finally recovering after announcing third-quarter earnings last week that were read on...

article imageThis Technical Indicator May Be The Simplest Way To Pick Winning Stocks

What's the first rule of successful real estate investing? Of course, you just said to yourself, "location, read on...

article imageUpdate On Crude Oil Markets

Crude prices came under pressure again today. According to Reuters (from last week), the Saudis “will read on...

article imageDelta Air Lines (DAL): Panic Selling Makes This Airline Stock Ripe For A Quick Pop

If there ever were a teaching moment in the stock market, it was this week. Earnings, trendlines and read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.