Principal Financial Group Inc. Boosts Stock Position in Xenia Hotels & Resorts, Inc. (NYSE:XHR)

Principal Financial Group Inc. increased its stake in shares of Xenia Hotels & Resorts, Inc. (NYSE:XHR) by 2.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 507,094 shares of the real estate investment trust’s stock after buying an additional 13,296 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of Xenia Hotels & Resorts worth $5,963,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Asset Management One Co. Ltd. increased its stake in shares of Xenia Hotels & Resorts by 0.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 153,705 shares of the real estate investment trust’s stock worth $1,808,000 after acquiring an additional 1,204 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Xenia Hotels & Resorts by 4.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 31,900 shares of the real estate investment trust’s stock valued at $375,000 after purchasing an additional 1,327 shares during the period. Swiss National Bank increased its position in Xenia Hotels & Resorts by 0.8% during the fourth quarter. Swiss National Bank now owns 200,580 shares of the real estate investment trust’s stock worth $2,981,000 after purchasing an additional 1,500 shares during the last quarter. QRG Capital Management Inc. raised its stake in Xenia Hotels & Resorts by 8.2% during the first quarter. QRG Capital Management Inc. now owns 19,963 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 1,518 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Xenia Hotels & Resorts by 2.6% in the 4th quarter. MetLife Investment Management LLC now owns 65,000 shares of the real estate investment trust’s stock valued at $966,000 after purchasing an additional 1,661 shares during the last quarter. Institutional investors and hedge funds own 92.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on XHR. KeyCorp cut their price target on shares of Xenia Hotels & Resorts from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Morgan Stanley cut their target price on Xenia Hotels & Resorts from $11.00 to $9.00 and set an “underweight” rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised Xenia Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. Jefferies Financial Group cut Xenia Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their price target for the stock from $18.00 to $10.00 in a report on Wednesday, April 9th. Finally, Wells Fargo & Company boosted their price objective on shares of Xenia Hotels & Resorts from $12.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.90.

Xenia Hotels & Resorts Trading Down 0.2%

Shares of NYSE XHR opened at $12.96 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $1.28 billion, a PE ratio of 58.89 and a beta of 1.64. Xenia Hotels & Resorts, Inc. has a twelve month low of $8.55 and a twelve month high of $16.50. The stock has a fifty day simple moving average of $12.38 and a 200-day simple moving average of $12.72.

Xenia Hotels & Resorts (NYSE:XHR) last released its earnings results on Friday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.09. The company had revenue of $288.93 million during the quarter, compared to the consensus estimate of $276.51 million. Xenia Hotels & Resorts had a return on equity of 1.80% and a net margin of 2.19%. Xenia Hotels & Resorts’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. On average, equities analysts forecast that Xenia Hotels & Resorts, Inc. will post 1.46 earnings per share for the current year.

Xenia Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.14 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.56 annualized dividend and a yield of 4.32%. Xenia Hotels & Resorts’s dividend payout ratio is presently 254.55%.

Xenia Hotels & Resorts announced that its board has authorized a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

About Xenia Hotels & Resorts

Xenia Hotels & Resorts, Inc is a real estate investment trust, which engages in the provision of investment in luxury and upper upscale hotels and resorts. It also owns a diversified portfolio of lodging properties operated by Marriott, Kimpton, Hyatt, Aston, Fairmong, and Loews. The company was founded in 2007 and is headquartered in Orlando, FL.