Xenia Hotels & Resorts (NYSE:XHR) Rating Increased to Strong-Buy at Zacks Investment Research

Xenia Hotels & Resorts (NYSE:XHR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday, Zacks.com reports. The firm presently has a $24.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.67% from the stock’s previous close.

According to Zacks, “Xenia Hotels & Resorts, Inc. is a self-advised and self-administered REIT. The company invests primarily in premium full service, lifestyle, urban upscale hotels, lodging markets as well as leisure destinations primarily in the United States. Xenia Hotels & Resorts, Inc. is based in Orlando, Florida. “

Several other research firms have also issued reports on XHR. BMO Capital Markets initiated coverage on shares of Xenia Hotels & Resorts in a report on Wednesday. They set a “market perform” rating and a $21.00 target price for the company. KeyCorp initiated coverage on shares of Xenia Hotels & Resorts in a report on Tuesday, June 25th. They set an “overweight” rating and a $24.00 target price for the company. Finally, Jefferies Financial Group lowered shares of Xenia Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their target price for the company from $26.00 to $22.00 in a report on Thursday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Xenia Hotels & Resorts currently has a consensus rating of “Hold” and an average target price of $22.00.

XHR traded up $0.27 on Friday, hitting $20.57. The company had a trading volume of 660,390 shares, compared to its average volume of 519,303. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.40 and a quick ratio of 2.40. Xenia Hotels & Resorts has a 52-week low of $16.47 and a 52-week high of $23.33. The stock has a fifty day simple moving average of $20.93 and a 200-day simple moving average of $21.24. The firm has a market capitalization of $2.32 billion, a P/E ratio of 9.27, a P/E/G ratio of 1.95 and a beta of 1.03.

Xenia Hotels & Resorts (NYSE:XHR) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Xenia Hotels & Resorts had a net margin of 12.44% and a return on equity of 7.82%. The business had revenue of $304.30 million during the quarter, compared to analyst estimates of $292.57 million. During the same period last year, the business posted $0.66 earnings per share. Xenia Hotels & Resorts’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that Xenia Hotels & Resorts will post 2.08 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in shares of Xenia Hotels & Resorts by 11.8% during the second quarter. CWM LLC now owns 4,925 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 520 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Xenia Hotels & Resorts by 0.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 78,111 shares of the real estate investment trust’s stock valued at $1,628,000 after acquiring an additional 700 shares in the last quarter. Profund Advisors LLC increased its position in shares of Xenia Hotels & Resorts by 4.6% during the second quarter. Profund Advisors LLC now owns 16,822 shares of the real estate investment trust’s stock valued at $351,000 after acquiring an additional 740 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Xenia Hotels & Resorts by 8.5% during the third quarter. Envestnet Asset Management Inc. now owns 18,955 shares of the real estate investment trust’s stock valued at $400,000 after acquiring an additional 1,491 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Xenia Hotels & Resorts by 1.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 110,141 shares of the real estate investment trust’s stock valued at $2,296,000 after acquiring an additional 1,518 shares in the last quarter. Hedge funds and other institutional investors own 87.58% of the company’s stock.

Xenia Hotels & Resorts Company Profile

Xenia Hotels & Resorts, Inc is a self-advised and self-administered REIT that invests primarily in uniquely positioned luxury and upper upscale hotels and resorts, with a focus on the top 25 U.S. lodging markets as well as key leisure destinations in the United States. The Company owns 40 hotels comprising 11,167 rooms across 17 states.

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