Pebblebrook Hotel Trust PEB

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

Pebblebrook Hotel Trust is an internally managed hotel investment company, formed as a Maryland real estate investment trust in October 2009 to opportunistically acquire and invest in hotel properties located primarily in major United States cities and resort properties located near our primary target urban markets and select destination resort markets, with an emphasis on major gateway coastal markets. As of December 31, 2025, the Company owned interests in 44 hotels with a total of 11,052 guest rooms.

Substantially all of the Company's assets are held by, and all of the Company's operations are conducted through, Pebblebrook Hotel, L.P. (our "Operating Partnership"). The Company is the sole general partner of our Operating Partnership. At December 31, 2025, the Company owned 99.0% of the common limited partnership units issued by our Operating Partnership ("common units"). The remaining 1.0% of the common units are owned by the other limited partners of our Operating Partnership. For the Company to maintain its qualification as a REIT under the Code, it cannot operate the hotels it owns. Therefore, our Operating Partnership and its subsidiaries lease the hotel properties to subsidiaries of Pebblebrook Hotel Lessee, Inc. (collectively with its subsidiaries, "PHL"), our taxable REIT subsidiary ("TRS"), which in turn engage third-party eligible independent contractors to manage the hotels. PHL is consolidated into the Company's financial statements.

Last close 20.39 2026-10-23
Market cap $2.30B 2026-06-30 share count
52-week range 9.99 - 21.26

Valuation FY2025 figures against the last close

P/S1.6x
P/E—
P/FCF15.1x
EV/EBITDA96.8x
Dividend yield0.2%
Diluted EPS-0.90

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.48B$1.45B$1.42B$1.39B$733.0M$442.9M$1.61B$828.7M$769.3M$816.4M
Cost of revenue ———————$511.8M$468.0M$483.9M
Gross profit ———————$316.8M$301.3M$332.5M
SG&A $49.5M$48.1M$44.8M$39.2M$38.2M$45.2M$34.0M$20.9M$20.1M$27.9M
Total operating expenses $1.43B$1.37B$1.38B$1.38B$822.8M$735.6M$1.38B$761.7M$633.9M$636.4M
Operating income $43.8M$84.0M$37.8M$14.7M-$89.8M-$292.7M$229.3M$67.0M$135.4M$180.0M
Interest expense $103.3M$112.4M$115.7M$100.0M$96.6M$104.1M$108.5M$53.9M$37.3M$43.6M
Pre-tax income -$55.9M-$25.6M-$73.6M-$84.7M-$186.3M-$396.3M$120.9M$15.1M$100.4M$73.8M
Income tax $6.3M$25.6M$655.0K$277.0K$61.0K$3.7M$5.2M$1.7M$181.0K$134.0K
Net income -$62.2M$16.0K-$74.3M-$85.0M-$186.4M-$391.7M$115.4M$13.4M$99.9M$73.7M
EPS, basic -0.90-0.39-0.93-0.95-1.80-3.250.63-0.061.200.65
EPS, diluted -0.90-0.39-0.93-0.95-1.80-3.250.63-0.061.190.64
Shares, diluted (wtd. avg.) 117.0M119.8M121.8M130.5M130.8M130.6M130.7M74.3M70.0M72.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $184.2M$206.7M$193.6M$52.3M$92.2M$136.3M$56.9M$107.8M$32.5M$40.8M
Other intangibles ——————$0$199.7M$29.0M$29.6M
Total assets $5.35B$5.69B$5.82B$6.13B$6.26B$6.08B$6.50B$6.98B$2.59B$2.81B
Long-term debt $2.12B$2.25B$2.32B$2.39B$2.44B$2.28B$2.23B$2.75B$885.2M$996.3M
Total liabilities $2.79B$2.91B$2.97B$3.05B$3.10B$2.81B$2.87B$3.21B$1.09B$1.20B
Retained earnings -$1.50B-$1.39B—————-$308.8M-$191.0M-$169.2M
Total equity $2.47B$2.70B$2.85B$3.08B$3.16B$3.26B$3.63B$3.77B$1.50B$1.61B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $249.7M$275.0M$236.2M$278.7M$70.8M-$201.8M$395.2M$135.7M$193.6M$240.0M
Stock-based compensation $13.7M$13.6M$12.5M$11.3M$11.4M$22.8M$8.2M$6.2M$5.6M$8.5M
Capital expenditure $97.4M$128.8M$200.6M——$0$752.0K$164.0K$40.0K$74.0K
Investing cash flow $10.3M-$92.8M$142.0M-$109.4M-$81.6M$250.1M$300.0M-$1.78B$132.3M$297.9M
Financing cash flow -$281.4M-$158.2M-$236.8M-$209.3M-$33.2M$31.1M-$746.1M$1.72B-$334.2M-$532.9M
Dividends paid $4.8M$4.9M$5.0M$5.3M$5.3M$54.0M$184.8M$105.7M$107.3M$105.3M
Buybacks $72.6M$16.9M$92.8M$70.7M$720.0K$1.3M$4.0M$2.5M$96.0M$2.5M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001474098-26-000030.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B Revenue, FY2016: 816.4M Gross profit, FY2016: 332.5M Net income, FY2016: 73.7M Revenue, FY2017: 769.3M Gross profit, FY2017: 301.3M Net income, FY2017: 99.9M Revenue, FY2018: 828.7M Gross profit, FY2018: 316.8M Net income, FY2018: 13.4M Revenue, FY2019: 1.6B Net income, FY2019: 115.4M Revenue, FY2020: 442.9M Net income, FY2020: -391.7M Revenue, FY2021: 733M Net income, FY2021: -186.4M Revenue, FY2022: 1.4B Net income, FY2022: -85M Revenue, FY2023: 1.4B Net income, FY2023: -74.3M Revenue, FY2024: 1.5B Net income, FY2024: 16K Revenue, FY2025: 1.5B Net income, FY2025: -62.2M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $816.4M $769.3M $828.7M $1.61B $442.9M $733.0M $1.39B $1.42B $1.45B $1.48B
Gross profit $332.5M $301.3M $316.8M — — — — — — —
Net income $73.7M $99.9M $13.4M $115.4M -$391.7M -$186.4M -$85.0M -$74.3M $16.0K -$62.2M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event Item 8.01
  • Regulation FD disclosure Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 6798

TickerCompanyMarket capP/ERevenue growth
WELL WELLTOWER INC. $167.53B 170.7x 40.2%
PLD Prologis, Inc. $117.89B 35.5x 7.2%
EQIX EQUINIX INC $94.23B 69.4x 5.4%
AMT AMERICAN TOWER CORP /MA/ $88.04B 35.0x 20.8%
SPG SIMON PROPERTY GROUP INC. $68.57B 14.9x 6.7%
DLR DIGITAL REALTY TRUST, INC. $60.57B 48.1x 10.0%
PSA Public Storage $54.42B 34.4x 2.7%
O REALTY INCOME CORP $53.83B 48.6x 9.1%