Pebblebrook Beats Q2 Estimates, Lifts Full-Year Outlook, and Launches $50M Preferred Buyback

summarizeSummary

Pebblebrook Hotel Trust posted Q2 2026 earnings above its outlook, raised full-year guidance, and authorized a new $50 million preferred share repurchase program. Same-Property Hotel EBITDA rose 7.1% year-over-year, fueled by strong resort and San Francisco performance.

check_boxKey Events · Earnings and Guidance · PEB

• Q2 Earnings Beat

  Net income came in at $24.9M, Same-Property Hotel EBITDA reached $123.3M (+7.1% YoY), and Adjusted FFO per diluted share hit $0.68, exceeding the high end of the outlook by $0.06.

• Full-Year Guidance Raised

  The 2026 Adjusted FFO per diluted share outlook was lifted to $1.69-$1.76 (midpoint +$0.08), with Same-Property RevPAR growth now expected at +4.5% to +5.5%.

• New $50M Preferred Buyback

  The board authorized a new $50 million preferred share repurchase program, which will commence after the existing $100 million program (with $45.6 million remaining) is completed.

• Insurance Cost Savings

  A property insurance renewal secured a 27% premium reduction, saving $6.1 million annually and providing a visible expense tailwind through May 2027.

auto_awesomeAnalysis · PEB · Real Estate & Construction

A strong second quarter saw Same-Property Hotel EBITDA climb 7.1% year-over-year and Adjusted FFO per share reach $0.68, topping the high end of guidance by $0.06. Bolstered by sustained demand and pricing power, management raised the full-year forecast. A new $50 million preferred share repurchase program furthers capital returns, while a 27% reduction in property insurance premiums delivers a clear expense tailwind. The results underscore the CEO's recent insider purchases and the ongoing recovery in key urban and resort markets.