Host Hotels & Resorts Inc. (HST) Downgraded to “Sell” at Zacks Investment Research
According to Zacks, “Host Hotels & Resorts came up with in line results in the last quarter. Although productivity and efficiency improved across the portfolio, results included lower-than-expected revenue performance. It lowered its projected range for revenue per available room (RevPAR) growth for comparable properties on account of uncertain economic outlook. Further, the dilutive impact on earnings from disposition of assets, rise in supply in certain key markets, currency fluctuations and any hike in interest rate would add to its woes. However, Host Hotels has the scope to gain from its solid portfolio, high efficiency and capital-recycling efforts.”
HST has been the subject of a number of other research reports. Goldman Sachs Group Inc. initiated coverage on shares of Host Hotels & Resorts in a research report on Monday, September 26th. They set a neutral rating and a $15.00 price objective for the company. Argus lifted their target price on shares of Host Hotels & Resorts from $21.00 to $23.00 and gave the company a buy rating in a research note on Wednesday, August 24th. Morgan Stanley restated a hold rating and set a $16.00 target price on shares of Host Hotels & Resorts in a research note on Tuesday, August 2nd. RBC Capital Markets cut shares of Host Hotels & Resorts from an outperform rating to a sector perform rating and decreased their target price for the company from $19.00 to $18.00 in a research report on Monday, August 1st. Finally, Royal Bank Of Canada cut shares of Host Hotels & Resorts from an outperform rating to a sector perform rating and decreased their target price for the company from $19.00 to $18.00 in a research report on Monday, August 1st. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $17.89.
Host Hotels & Resorts (NYSE:HST) traded down 0.13% during midday trading on Monday, hitting $15.56. The company’s stock had a trading volume of 740,159 shares. The firm has a market cap of $11.55 billion, a P/E ratio of 14.99 and a beta of 1.57. Host Hotels & Resorts has a 12 month low of $12.17 and a 12 month high of $18.56. The company’s 50 day moving average price is $16.94 and its 200 day moving average price is $16.43.
Host Hotels & Resorts (NYSE:HST) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. Host Hotels & Resorts had a net margin of 14.34% and a return on equity of 10.97%. The company earned $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts expect that Host Hotels & Resorts will post $1.66 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend is Wednesday, September 28th. Host Hotels & Resorts’s dividend payout ratio (DPR) is currently 76.92%.
In related news, SVP Brian G. Macnamara sold 6,000 shares of Host Hotels & Resorts stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $17.51, for a total value of $105,060.00. Following the completion of the transaction, the senior vice president now owns 59,172 shares in the company, valued at $1,036,101.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gregory J. Larson sold 40,000 shares of Host Hotels & Resorts stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $18.22, for a total transaction of $728,800.00. Following the completion of the transaction, the chief financial officer now owns 124,929 shares of the company’s stock, valued at approximately $2,276,206.38. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in HST. Creative Planning boosted its position in shares of Host Hotels & Resorts by 5.5% in the second quarter. Creative Planning now owns 6,651 shares of the company’s stock worth $108,000 after buying an additional 345 shares during the period. Meeder Asset Management Inc. purchased a new position in Host Hotels & Resorts during the first quarter valued at approximately $110,000. Johnson Financial Group Inc. boosted its position in Host Hotels & Resorts by 63.4% in the second quarter. Johnson Financial Group Inc. now owns 6,913 shares of the company’s stock valued at $112,000 after buying an additional 2,683 shares during the period. First Personal Financial Services boosted its position in Host Hotels & Resorts by 17.7% in the second quarter. First Personal Financial Services now owns 9,404 shares of the company’s stock valued at $153,000 after buying an additional 1,411 shares during the period. Finally, Capital Analysts LLC boosted its position in Host Hotels & Resorts by 134.4% in the second quarter. Capital Analysts LLC now owns 9,591 shares of the company’s stock valued at $1,093,000 after buying an additional 5,499 shares during the period.
Host Hotels & Resorts Company Profile
Host Hotels & Resorts, Inc (Host Inc) operates as a self-managed and self-administered real estate investment trust. The Company operates through hotel ownership segment. The Company owns properties and conducts operations through Host Hotels & Resorts, L.P., in which the Company holds approximately 99% of the partnership interests (OP units).
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