Host Hotels & Resorts (NASDAQ:HST) Upgraded by Zacks Investment Research to “Strong-Buy”

Zacks Investment Research upgraded shares of Host Hotels & Resorts (NASDAQ:HSTGet Rating) from a hold rating to a strong-buy rating in a research note released on Tuesday, Zacks.com reports. The firm currently has $20.50 price objective on the stock.

According to Zacks, “Shares of Host Hotels have outperformed the industry in the past six months. The recent estimate revisions trend for 2022 funds from operations (FFO) per share indicates a favorable outlook for the company as it has been revised northward. With a solid portfolio of luxury and upper-upscale hotels across lucrative markets, Host Hotels is likely to benefit from the relaxation of regulations, acceleration in vaccine distribution and improving supply-demand fundamentals. Strategic acquisitions and value-enhancement initiatives are likely to aid long-term growth in its profitability. The capital-recycling program and a strong balance sheet augur well. Also, the recovery in the transient and group businesses and the continued strength in the leisure business are likely to help the company achieve an improvement in revenue per available room (RevPAR).”

Several other research firms have also issued reports on HST. Raymond James upgraded Host Hotels & Resorts from a market perform rating to an outperform rating and set a $21.00 target price on the stock in a research note on Wednesday, March 16th. Morgan Stanley lifted their target price on Host Hotels & Resorts from $19.00 to $20.00 and gave the stock an equal weight rating in a report on Tuesday, January 18th. Wells Fargo & Company lifted their target price on Host Hotels & Resorts from $18.00 to $19.00 and gave the stock an equal weight rating in a report on Thursday, March 10th. Jefferies Financial Group raised Host Hotels & Resorts from a hold rating to a buy rating and boosted their price target for the company from $20.00 to $25.00 in a report on Wednesday, March 30th. Finally, The Goldman Sachs Group upgraded Host Hotels & Resorts from a sell rating to a neutral rating and boosted their price objective for the company from $17.00 to $18.00 in a research report on Tuesday, December 14th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Buy and an average target price of $20.69.

Shares of HST opened at $18.22 on Tuesday. The business’s 50 day simple moving average is $18.43 and its 200-day simple moving average is $17.52. Host Hotels & Resorts has a 1 year low of $14.67 and a 1 year high of $20.25. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of -607.13 and a beta of 1.27. The company has a debt-to-equity ratio of 0.76, a current ratio of 10.82 and a quick ratio of 10.82.

Host Hotels & Resorts (NASDAQ:HSTGet Rating) last released its earnings results on Wednesday, February 16th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.14. Host Hotels & Resorts had a negative return on equity of 0.18% and a negative net margin of 0.38%. The business had revenue of $998.00 million during the quarter, compared to the consensus estimate of $898.43 million. During the same period last year, the company earned ($0.02) earnings per share. The business’s revenue for the quarter was up 273.8% compared to the same quarter last year. On average, sell-side analysts expect that Host Hotels & Resorts will post 1.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 15th. Stockholders of record on Thursday, March 31st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $0.12 annualized dividend and a dividend yield of 0.66%. Host Hotels & Resorts’s dividend payout ratio is currently -399.87%.

A number of hedge funds have recently modified their holdings of the stock. DNB Asset Management AS raised its holdings in Host Hotels & Resorts by 3.1% during the first quarter. DNB Asset Management AS now owns 121,784 shares of the company’s stock worth $2,366,000 after purchasing an additional 3,637 shares during the last quarter. Fulton Bank N.A. increased its position in Host Hotels & Resorts by 4.5% during the first quarter. Fulton Bank N.A. now owns 171,739 shares of the company’s stock worth $3,337,000 after buying an additional 7,348 shares in the last quarter. Norges Bank purchased a new position in Host Hotels & Resorts during the fourth quarter worth $422,242,000. Wexford Capital LP purchased a new position in Host Hotels & Resorts during the fourth quarter worth $543,000. Finally, William Blair Investment Management LLC purchased a new position in Host Hotels & Resorts during the fourth quarter worth $186,000.

About Host Hotels & Resorts (Get Rating)

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 74 properties in the United States and five properties internationally totaling approximately 46,100 rooms.

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