Host Hotels & Resorts (NASDAQ:HST) Sets New 1-Year High on Strong Earnings

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

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

Host Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.20 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.2%. Host Hotels & Resorts’s payout ratio is presently 58.39%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company increased their target price on Host Hotels & Resorts from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Weiss Ratings raised Host Hotels & Resorts from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, August 14th. JPMorgan Chase & Co. upped their price target on shares of Host Hotels & Resorts from $22.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Evercore set a $26.00 price target on shares of Host Hotels & Resorts in a research report on Monday, October 26th. Finally, Truist Financial increased their price objective on shares of Host Hotels & Resorts from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.14.

Insiders Place Their Bets

In other Host Hotels & Resorts news, EVP Nathan Tyrrell sold 63,882 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $23.13, for a total transaction of $1,477,590.66. Following the transaction, the executive vice president owned 618,207 shares of the company’s stock, valued at approximately $14,299,127.91. This represents a 9.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Host Hotels & Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. raised its holdings in Host Hotels & Resorts by 44.9% during the third quarter. Eurizon Capital SGR S.p.A. now owns 121,081 shares of the company’s stock worth $2,719,000 after acquiring an additional 37,543 shares in the last quarter. Fifth Third Bancorp grew its stake in Host Hotels & Resorts by 2.4% in the third quarter. Fifth Third Bancorp now owns 53,364 shares of the company’s stock valued at $1,195,000 after purchasing an additional 1,248 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Host Hotels & Resorts by 16.4% in the third quarter. Maryland State Retirement & Pension System now owns 40,864 shares of the company’s stock valued at $915,000 after purchasing an additional 5,757 shares in the last quarter. Ritholtz Wealth Management grew its stake in Host Hotels & Resorts by 3.3% in the third quarter. Ritholtz Wealth Management now owns 247,994 shares of the company’s stock valued at $5,553,000 after purchasing an additional 7,930 shares in the last quarter. Finally, Machina Capital S.A.S. bought a new position in Host Hotels & Resorts in the third quarter valued at approximately $2,847,000. Institutional investors own 98.52% of the company’s stock.

Host Hotels & Resorts Price Performance

The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 3.61 and a beta of 1.09. The company has a 50-day simple moving average of $23.16 and a two-hundred day simple moving average of $22.05. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.96 and a current ratio of 2.96.

About Host Hotels & Resorts

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.