PEB-PH Pebblebrook Hotel Trust
Price Chart
Executive Summary
Pebblebrook Hotel Trust reported Q1 2026 results significantly above its own outlook, with Same-Property Total Revenue +10.2% YoY to $343.8M and Adjusted FFO per share doubling to $0.32, driven by broad-based demand recovery and margin expansion. The company raised its full-year 2026 Adjusted EBITDAre guidance midpoint by $10M and Adjusted FFO per share midpoint by $0.09, reflecting strong operating momentum despite macro uncertainties.
Actionable Insight
The strong beat and raised guidance reinforce the urban recovery thesis; watch for continued momentum in San Francisco and LA. Preferred dividends remain stable, but common dividend is nominal ($0.01/quarter) — any increase would signal further confidence. Monitor macro risks noted in commentary (geopolitical, fuel prices) that could slow H2 demand.
Key Facts
- Q1 2026 Same-Property Total Revenue $343.8M, +10.2% YoY, above prior outlook
- Adjusted FFO per diluted share $0.32, doubled from $0.16 YoY and $0.09 above outlook high end
- Same-Property Hotel EBITDA $82.2M, +27.6% YoY, $8.2M above outlook high end
- Same-Property RevPAR +11.8% led by San Francisco (+44.5%) and Los Angeles (+31.5%)
- Full-year 2026 Adjusted EBITDAre guidance raised to $336-348M (midpoint +$10M)
- Full-year 2026 Adjusted FFO per share guidance raised to $1.60-$1.70 (midpoint +$0.09)
- Net debt to trailing corporate EBITDA improved to 5.5x from 5.9x at year-end 2025
Financial Impact
Q1 revenue beat consensus by ~5% ($345.7M actual vs $329.2M est), guidance raised meaningfully
Risk Factors
- Macroeconomic uncertainty and geopolitical events could slow travel demand in H2 2026
- Recent shortening of booking visibility since late March
- Washington, DC RevPAR -24.1% remains a drag
- No further BI insurance income expected (LaPlaya recovery complete)
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001474098-26-000040 |
| Document: peb-20260428.htm | 0001474098-26-000040 |
| Document: 0001474098-26-000040-index-headers.html | 0001474098-26-000040 |
| Document: 0001474098-26-000040-index.html | 0001474098-26-000040 |
| Document: 0001474098-26-000040.txt | 0001474098-26-000040 |
| 8-K Data (Synthetic) | 0001474098-26-000040 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 9, 2026
today
|
8-K
| — | awaiting T+1 | — | — |
|
Jun 2, 2026
7d ago
|
8-K
| $17.94 $18.00 | ▲ +0.33% | ▼ −0.06% | $18.25 (+1.73%) |
|
Apr 28, 2026
6w ago
|
8-K
| $17.92 $17.90 | ▼ −0.11% | ▼ −1.13% | $18.25 (+1.84%) |
|
Apr 17, 2026
7w ago
|
DEFA14A
| $18.50 $18.28 | ▼ −1.19% | ▼ −1.00% | $18.25 (−1.35%) |
US Market Status
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