Host Hotels & Resorts (NASDAQ:HST) Hits New 52-Week High on Better-Than-Expected Earnings

Host Hotels & Resorts, Inc. (NASDAQ:HST) shares hit a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $26.05 and last traded at $25.8980, with a volume of 351,793 shares traded. The stock had previously closed at $25.78.

The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. Host Hotels & Resorts had a return on equity of 14.19% and a net margin of 15.01%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 EPS.

Host Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. Host Hotels & Resorts’s dividend payout ratio (DPR) is currently 58.39%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Host Hotels & Resorts from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, October 26th. Cantor Fitzgerald raised their price target on shares of Host Hotels & Resorts from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Truist Financial upped their price objective on shares of Host Hotels & Resorts from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, September 10th. Morgan Stanley increased their price objective on shares of Host Hotels & Resorts from $22.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, October 12th. Finally, Evercore set a $26.00 price objective on shares of Host Hotels & Resorts in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.14.

Insider Activity

In related news, EVP Nathan Tyrrell sold 63,882 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $23.13, for a total value of $1,477,590.66. Following the sale, the executive vice president directly owned 618,207 shares in the company, valued at approximately $14,299,127.91. The trade was a 9.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Host Hotels & Resorts

Several large investors have recently made changes to their positions in the stock. Avail Investment Partners LLC increased its position in Host Hotels & Resorts by 2.5% during the third quarter. Avail Investment Partners LLC now owns 19,299 shares of the company’s stock worth $432,000 after buying an additional 471 shares during the period. CX Institutional boosted its holdings in shares of Host Hotels & Resorts by 4.1% in the third quarter. CX Institutional now owns 12,067 shares of the company’s stock valued at $270,000 after acquiring an additional 474 shares during the period. VestGen Advisors LLC grew its position in shares of Host Hotels & Resorts by 4.3% during the third quarter. VestGen Advisors LLC now owns 14,439 shares of the company’s stock worth $323,000 after acquiring an additional 601 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Host Hotels & Resorts by 14.6% during the second quarter. Parkside Financial Bank & Trust now owns 4,931 shares of the company’s stock worth $117,000 after acquiring an additional 629 shares during the last quarter. Finally, Aprio Wealth Management LLC increased its holdings in shares of Host Hotels & Resorts by 5.6% in the 3rd quarter. Aprio Wealth Management LLC now owns 14,200 shares of the company’s stock valued at $318,000 after acquiring an additional 751 shares during the period. 98.52% of the stock is currently owned by institutional investors and hedge funds.

Host Hotels & Resorts Stock Down 0.1%

The business’s fifty day moving average price is $23.16 and its 200 day moving average price is $22.05. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 3.61 and a beta of 1.09. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 0.80.

Host Hotels & Resorts Company Profile

Host Hotels & Resorts, Inc is a self-managed and self-administered real estate investment trust that owns and operates a portfolio of luxury and upper-upscale hotels. The company’s properties are generally located in high-demand business and leisure destinations and include full-service hotels, resorts and convention-oriented lodging facilities.

Host Hotels typically invests in hotel real estate while relying on hotel management companies and major hospitality brands to operate its properties.