Host Hotels and Resorts (HST) Cut to “Underperform” at Wolfe Research

Wolfe Research cut shares of Host Hotels and Resorts (NYSE:HST) from a market perform rating to an underperform rating in a research report released on Tuesday morning, MarketBeat reports. The brokerage currently has $19.16 price target on the real estate investment trust’s stock.

Several other research firms have also issued reports on HST. Deutsche Bank reissued a buy rating and issued a $22.00 price objective on shares of Host Hotels and Resorts in a research report on Sunday, February 24th. Wells Fargo & Co set a $22.00 price target on shares of Host Hotels and Resorts and gave the company a buy rating in a report on Tuesday, November 13th. Zacks Investment Research reaffirmed a hold rating on shares of Host Hotels and Resorts in a report on Tuesday, November 13th. Citigroup lowered shares of Host Hotels and Resorts from a buy rating to a neutral rating and lowered their price target for the company from $24.00 to $19.50 in a report on Wednesday, December 12th. Finally, Barclays raised shares of Host Hotels and Resorts from an equal weight rating to an overweight rating and lowered their price target for the company from $23.00 to $22.00 in a report on Tuesday, December 18th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Host Hotels and Resorts currently has a consensus rating of Hold and a consensus target price of $21.39.

Host Hotels and Resorts stock opened at $19.22 on Tuesday. Host Hotels and Resorts has a 52-week low of $15.94 and a 52-week high of $22.47. The firm has a market capitalization of $14.19 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22. The company has a quick ratio of 5.51, a current ratio of 5.51 and a debt-to-equity ratio of 0.51.

Host Hotels and Resorts (NYSE:HST) last released its quarterly earnings data on Tuesday, February 19th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.41. Host Hotels and Resorts had a net margin of 19.68% and a return on equity of 14.86%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the prior year, the business earned $0.12 earnings per share. Research analysts anticipate that Host Hotels and Resorts will post 1.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date is Thursday, March 28th. Host Hotels and Resorts’s payout ratio is 45.20%.

In other Host Hotels and Resorts news, CFO Michael D. Bluhm sold 18,360 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $19.84, for a total transaction of $364,262.40. Following the completion of the transaction, the chief financial officer now directly owns 176,618 shares of the company’s stock, valued at approximately $3,504,101.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in HST. Oregon Public Employees Retirement Fund grew its holdings in Host Hotels and Resorts by 1,610.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,133,693 shares of the real estate investment trust’s stock worth $1,088,000 after acquiring an additional 17,073,795 shares in the last quarter. Norges Bank acquired a new position in Host Hotels and Resorts during the 4th quarter worth $123,703,000. Panagora Asset Management Inc. grew its holdings in Host Hotels and Resorts by 518.2% during the 3rd quarter. Panagora Asset Management Inc. now owns 6,749,551 shares of the real estate investment trust’s stock worth $142,415,000 after acquiring an additional 5,657,711 shares in the last quarter. PGGM Investments grew its holdings in Host Hotels and Resorts by 37.3% during the 4th quarter. PGGM Investments now owns 18,593,209 shares of the real estate investment trust’s stock worth $309,949,000 after acquiring an additional 5,053,489 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Host Hotels and Resorts by 475.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 5,418,411 shares of the real estate investment trust’s stock worth $114,328,000 after acquiring an additional 4,476,843 shares in the last quarter. 96.74% of the stock is owned by institutional investors.

About Host Hotels and Resorts

Host Hotels & Resorts, Inc is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 88 properties in the United States and five properties internationally totaling approximately 52,000 rooms.

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Analyst Recommendations for Host Hotels and Resorts (NYSE:HST)

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