Pebblebrook Hotel (PEB) AI Stock Analysis

• Market Cap: $1.38B
• Dividend Yield: 0.34%
• Average Volume (3M): 1.92M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.30
• Revenue Growth: 0.99%
• EPS Growth: -360.58%
• Country: US
• Employees: 60
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Hotel & Motel
• EPS (TTM): -0.23
• Shares Outstanding: 113,595,630
• 10 Day Avg. Volume: 2,199,893
• 30 Day Avg. Volume: 1,920,105
• PEG Ratio: -0.10
• Price to Book (P/B): 0.54
• Price to Sales (P/S): 0.90
• P/FCF Ratio: 5.30
• Enterprise Value/Market Cap: 0.92
• Enterprise Value/Revenue: 0.86
• Enterprise Value/Gross Profit: 2.72
• Enterprise Value/Ebitda: 102.92
• 1Y Price Target: $12.32
• Price Target Upside: 0.65% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 8
• EPS Forecast (FY): -0.52
• Revenue Forecast (FY): $1.46B

• Rating: 61 Neutral
• Price Target: $13.00 ▲(6.21% Upside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

The score is driven primarily by improving fundamentals (steady post-pandemic revenue and generally positive operating/free cash flow) but held back by persistent net losses and profitability volatility. Technicals add modest support with an upward trend and neutral momentum, while valuation is mixed (negative P/E but very high yield). Earnings commentary and recent refinancing/board actions modestly improve the outlook but do not fully offset operating headwinds like ADR/RevPAR pressure.

Positive Factors

Revenue & Cash Generation

Pebblebrook's top line recovery to roughly $1.4–$1.5B with generally positive operating and free cash flow demonstrates structural revenue stabilization and improved cash conversion. This supports ongoing capital needs, dividends and debt service over the next several quarters, reducing reliance on one-off capital raises.

Balance Sheet & Liquidity

The February 2026 refinancing materially extends maturities, converts much secured debt to unsecured, restores a $650M revolver and lowers blended interest costs. This durable liquidity and longer maturity profile materially reduces near-term refinancing risk and improves optionality for capital allocation across 2026–2029.

Governance & Incentives

A structured board refresh and a compensation framework that emphasizes long-term equity and performance units tied to FFO, EBITDA and TSR align management with shareholders. Stronger governance and capital-markets expertise enhance decision-making on dispositions, redevelopment and capital allocation over multi-year horizons.

Negative Factors

Recurring Net Losses

Despite revenue recovery, persistent net losses and thin, volatile EBITDA margins signal underlying operating profitability challenges. Continued negative net income limits retained earnings, constrains equity returns, and makes the REIT more dependent on financing and asset sales for strategic investments and dividend support over the medium term.

Historic Leverage Levels

Pebblebrook's multi-year leverage near 0.85–0.96 is meaningful for a cyclical lodging portfolio and heightens sensitivity to demand shocks. The sharp 2025 debt discontinuity adds uncertainty about true leverage trajectory; elevated historical leverage can restrict flexibility during downturns and raises refinancing exposure absent sustained cash generation.

ADR / RevPAR Pressure & Market Concentration

Declines in ADR and RevPAR, and pronounced weakness in key urban markets like Washington, D.C. and Los Angeles, indicate demand mix and pricing pressure risks. Given Pebblebrook's urban and resort concentration, sustained ADR/RevPAR weakness in a few large markets could materially compress margins and cash flow over multiple quarters.

Pebblebrook Hotel Business Overview & Revenue Model

Company Description

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (REIT) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 53 hotels, totaling approximately 13,200 guestrooms across 14 urban and resort markets, with a focus on the west coast gateway cities.

How the Company Makes Money

Pebblebrook Hotel Trust generates revenue primarily through the operation of its hotel properties, which include room rentals, food and beverage services, and ancillary offerings such as meeting and event spaces. The company's key revenue streams stem from its rental income derived from guests staying at its hotels, as well as income from on-site restaurants, bars, and event services. Additionally, Pebblebrook may earn management fees from its properties and benefit from partnerships with hotel management companies that operate the hotels on its behalf. The company's revenue can also be influenced by factors such as occupancy rates, average daily rates (ADR), and seasonal demand, as well as its strategic acquisitions and asset management practices that enhance property values and operational efficiency.

Pebblebrook Hotel Financial Statement Overview

Summary

Revenue has recovered and stabilized around ~$1.4–$1.5B and operating/free cash flow is generally positive, supporting fundamentals. However, recurring net losses, thin/volatile profitability, and historically meaningful leverage (with an abrupt 2025 debt discontinuity) cap the score.

Income Statement

Revenue has rebounded sharply since 2020 and has been relatively steady at ~$1.4–$1.5B from 2022–2025, with 2025 showing an outsized jump in reported growth. Profitability remains the weak point: net income is negative in every year provided, with 2024 close to breakeven but 2025 slipping back to a larger loss and very thin EBITDA margin. Overall, the top-line recovery is a clear strength, but inconsistent operating profitability and recurring net losses weigh on the score.

Balance Sheet

The capital base is sizable (equity roughly $2.5–$3.3B; assets roughly $5.3–$6.3B). Leverage appears elevated in most years with debt-to-equity around ~0.85–0.96 from 2020–2024, which is meaningful for a cyclical lodging REIT, and returns on equity are negative throughout due to net losses. 2025 shows zero reported debt and a zero debt-to-equity ratio, which is a notable improvement if accurate, but it is a sharp discontinuity versus prior years and introduces data/trajectory uncertainty. Net-net: balance sheet is supported by asset scale, but leverage history and negative returns temper the strength.

Cash Flow

Cash generation has improved materially versus 2020, with operating cash flow positive and fairly stable from 2021–2025 and free cash flow generally positive (except 2021). However, free cash flow volatility is notable (including a large drop in 2025 versus 2024), and the relationship between cash flow and earnings is uneven given persistent net losses. Overall, cash flow is the most supportive part of the statements, but variability and the earnings drag keep the score from being higher.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.48B	1.45B	1.42B	1.39B	733.04M
Gross Profit	0.00	366.12M	354.27M	382.28M	124.79M
EBITDA	12.31M	306.40M	274.58M	238.40M	124.83M
Net Income	-105.72M	-4.24M	-78.02M	-87.17M	-184.86M
Balance Sheet
Total Assets	5.35B	5.69B	5.82B	6.13B	6.26B
Cash, Cash Equivalents and Short-Term Investments	184.19M	206.65M	183.75M	41.04M	58.52M
Total Debt	0.00	2.57B	2.64B	2.71B	2.76B
Total Liabilities	2.79B	2.91B	2.97B	3.05B	3.10B
Stockholders Equity	2.47B	2.70B	2.76B	3.00B	3.16B
Cash Flow
Free Cash Flow	249.73M	275.00M	236.20M	162.00M	-13.06M
Operating Cash Flow	249.73M	275.00M	236.20M	278.75M	70.77M
Investing Cash Flow	10.32M	-92.83M	142.02M	-109.39M	-81.57M
Financing Cash Flow	-281.44M	-158.22M	-236.85M	-209.34M	-33.25M

Pebblebrook Hotel Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.24
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PEB, the sentiment is Positive. The current price of 12.24 is above the 20-day moving average (MA) of 12.19, above the 50-day MA of 11.93, and above the 200-day MA of 10.88, indicating a bullish trend. The MACD of 0.16 indicates Positive momentum. The RSI at 50.83 is Neutral, neither overbought nor oversold. The STOCH value of 15.46 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PEB.

Pebblebrook Hotel Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
APLE	67 Neutral	$2.86B	16.47	5.47%	8.30%	0.57%	-13.58%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
DRH	65 Neutral	$2.05B	38.39	3.98%	5.13%	0.95%	-8.40%
XHR	62 Neutral	$1.49B	24.37	4.58%	3.71%	4.29%	141.01%
PEB	61 Neutral	$1.38B	-10.33	-3.74%	0.34%	0.99%	-360.58%
RLJ	58 Neutral	$1.22B	165.84	1.49%	7.76%	-0.58%	-83.32%
SHO	57 Neutral	$1.76B	1,006.52	0.88%	3.98%	3.04%	-98.77%

Pebblebrook Hotel Corporate Events

Pebblebrook Hotel Trust Executes Major Debt Refinancing

On February 11 and 12, 2026, Pebblebrook Hotel Trust refinanced a significant portion of its capital structure, closing a new $450 million senior unsecured term loan and amending its existing credit agreement. The new facility refinanced a $360 million term loan, extended its maturity to February 2031, and added a $90 million delayed-draw component available through December 15, 2026.

The company also used $40 million of cash to fully repay the Margaritaville Hollywood Beach Resort mortgage due in 2026 and completed the extension of its $650 million senior unsecured revolving credit facility, restoring full capacity and extending availability through October 2029, subject to extension options. Pricing on the term loan and revolver remained tied to SOFR with existing leverage-based margins, while elimination of a 10-basis-point credit spread adjustment lowered annual interest expense.

Following these transactions, Pebblebrook reported that about 89% of its total debt and convertible notes effectively bear fixed rates and roughly 98% is unsecured, with a weighted average interest rate near 4.4%, and it held around $150 million in cash as of February 11, 2026. The refinancing materially extends the company’s debt maturity profile, reduces secured debt, preserves an undrawn $650 million revolver, and provides a clearer funding path to address its remaining December 2026 convertible note maturity, supporting liquidity and balance-sheet flexibility for stakeholders.

The most recent analyst rating on (PEB) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Pebblebrook Hotel stock, see the PEB Stock Forecast page.

Pebblebrook Hotel Trust Sets 2026 Executive Pay Framework

On February 5, 2026, Pebblebrook Hotel Trust’s board approved 2026 executive compensation packages that largely mirror 2025, combining base salary, annual cash bonuses and long-term equity awards for CEO Jon E. Bortz and senior executives Raymond D. Martz and Thomas C. Fisher. For 2026, equity remains the largest share of target pay, with 40% of long-term awards in time-vested LTIP or restricted share units and 60% in performance units that vest after a three-year period based on total shareholder return and other metrics.

Annual cash bonuses for 2026 are tied to seven weighted objectives, including adjusted FFO per share, asset dispositions, hotel EBITDA performance versus peer REITs, RevPAR penetration, balance sheet and capital markets execution, sustainability and responsibility goals, and maintenance of strong internal controls. The structure caps overall cash bonus payouts at 200% of target, includes tighter limits if financial control weaknesses emerge, and links long-term performance units to relative and absolute TSR, reinforcing alignment between executive rewards, shareholder returns and disciplined capital allocation.

The most recent analyst rating on (PEB) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Pebblebrook Hotel stock, see the PEB Stock Forecast page.

Pebblebrook Hotel Trust Announces Board Refresh and Additions

On February 5 and 9, 2026, Pebblebrook Hotel Trust announced the election of veteran real estate investors Nina P. Jones and Bill Bayless to its Board of Trustees, with Jones joining on March 1, 2026 and Bayless expected to join in the fourth quarter of 2026. Jones, a former T. Rowe Price portfolio manager and current director at major S&P 500 REITs, and Bayless, a student housing pioneer and CEO of Maslow Campus Communities, are slated for key board committee roles and equity-based compensation, adding deep securities, M&A and operational expertise to Pebblebrook’s governance bench.

The company simultaneously unveiled a principles-based board refreshment framework, featuring annual board composition reviews, skill-matrix updates and a target of keeping average independent trustee tenure at 12 years or less by the 2027 shareholder meeting. As part of this shift, long-serving trustee Ron E. Jackson will retire at the 2026 annual meeting and another independent trustee is expected to step down by 2027, signaling a structured transition toward a more regularly refreshed, strategically aligned board aimed at supporting long-term shareholder value.

The most recent analyst rating on (PEB) stock is a Hold with a $12.50 price target. To see the full list of analyst forecasts on Pebblebrook Hotel stock, see the PEB Stock Forecast page.

Pebblebrook Hotel Trust Schedules Upcoming Quarterly Results Release

Pebblebrook Hotel Trust announced on December 18, 2025, that it plans to release its financial and operating results for the quarter ended December 31, 2025, after U.S. markets close on February 25, 2026, followed by a quarterly earnings conference call and webcast on February 26, 2026, at 9:00 a.m. Eastern time. The scheduled disclosure and investor call underscore the REIT’s ongoing engagement with shareholders and analysts, providing an upcoming checkpoint on the company’s operating performance and portfolio trends across its U.S. urban and resort lifestyle hotel assets.

The most recent analyst rating on (PEB) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Pebblebrook Hotel stock, see the PEB Stock Forecast page.

Pebblebrook Hotel Declares Fourth Quarter Dividends

On December 15, 2025, Pebblebrook Hotel Trust announced that its Board of Trustees authorized and declared cash dividends for its common and preferred shares for the fourth quarter of 2025. The declared dividends include $0.01 per common share and varying amounts for its Series E, F, G, and H preferred shares, with payments scheduled for January 15, 2026. This decision reflects the company’s ongoing commitment to returning value to its shareholders and may impact its financial positioning and stakeholder interests.

The most recent analyst rating on (PEB) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Pebblebrook Hotel stock, see the PEB Stock Forecast page.

Pebblebrook Hotel Completes Sale of Chicago Property

On December 3, 2025, Pebblebrook Hotel Trust completed the sale of the 752-room Westin Michigan Avenue Chicago for $72.0 million. The proceeds from this sale will be used to reduce outstanding debt and preferred equity, repurchase common shares, and support other capital allocation priorities. This transaction, along with a previous sale, has allowed the company to reduce its debt by $100 million. Despite the sale, Pebblebrook’s updated fourth-quarter and full-year 2025 outlook remains largely unchanged, as the reduction in interest expenses is expected to offset the loss of hotel-level EBITDA.

The most recent analyst rating on (PEB) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Pebblebrook Hotel stock, see the PEB Stock Forecast page.