Host Hotels & Resorts (NASDAQ:HST) Price Target Raised to $27.00

Host Hotels & Resorts (NASDAQ:HST) had its price objective lifted by Cantor Fitzgerald from $24.00 to $27.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also recently issued reports on HST. Wells Fargo & Company increased their price target on Host Hotels & Resorts from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, October 26th. Evercore set a $26.00 price objective on shares of Host Hotels & Resorts in a research note on Monday, October 26th. JPMorgan Chase & Co. upped their price objective on shares of Host Hotels & Resorts from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Truist Financial increased their target price on shares of Host Hotels & Resorts from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. Finally, Weiss Ratings upgraded shares of Host Hotels & Resorts from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.55.

Host Hotels & Resorts Trading Down 1.0%

NASDAQ:HST opened at $25.52 on Tuesday. Host Hotels & Resorts has a 12-month low of $16.77 and a 12-month high of $26.19. The firm has a market capitalization of $17.49 billion, a P/E ratio of 18.63, a P/E/G ratio of 3.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 5.79 and a quick ratio of 2.96. The business has a 50 day simple moving average of $23.50 and a 200 day simple moving average of $22.22.

Host Hotels & Resorts (NASDAQ:HST) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Host Hotels & Resorts had a net margin of 15.01% and a return on equity of 14.33%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts predict that Host Hotels & Resorts will post 2.20 EPS for the current year.

Host Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.1%. Host Hotels & Resorts’s dividend payout ratio (DPR) is currently 58.39%.

Insider Activity at Host Hotels & Resorts

In related news, Director Mary Baglivo sold 13,963 shares of Host Hotels & Resorts stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $24.47, for a total transaction of $341,674.61. Following the transaction, the director directly owned 2,468 shares of the company’s stock, valued at $60,391.96. The trade was a 84.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sourav Ghosh sold 93,863 shares of the business’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $24.76, for a total transaction of $2,324,047.88. Following the completion of the sale, the executive vice president owned 418,147 shares in the company, valued at approximately $10,353,319.72. This trade represents a 18.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 224,174 shares of company stock valued at $5,472,826 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Host Hotels & Resorts

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Host Hotels & Resorts in the 2nd quarter worth $2,096,191,000. Deutsche Bank AG acquired a new stake in Host Hotels & Resorts during the 2nd quarter worth about $296,560,000. Bank of America Corp DE acquired a new stake in Host Hotels & Resorts during the 2nd quarter worth about $295,807,000. Dimensional Fund Advisors LP lifted its stake in Host Hotels & Resorts by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 10,492,832 shares of the company’s stock valued at $201,042,000 after buying an additional 118,043 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Host Hotels & Resorts during the second quarter valued at about $143,770,000. Institutional investors and hedge funds own 98.52% of the company’s stock.

About Host Hotels & Resorts

Host Hotels & Resorts is a real estate investment trust that owns a portfolio of luxury and upper-upscale hotels and resorts. Its properties serve business and leisure travelers and are located primarily in the United States, with additional properties in international markets. The company’s hotels are operated under a range of well-known brands, including Marriott, Hilton, Hyatt and Four Seasons. Host generally relies on brand companies and other third-party operators to manage its properties, while focusing on hotel ownership and real estate investment.