Zacks Investment Research Downgrades Host Hotels and Resorts (HST) to Sell

Zacks Investment Research cut shares of Host Hotels and Resorts (NYSE:HST) from a hold rating to a sell rating in a research report released on Monday morning.

According to Zacks, “Shares of Host Hotels & Resorts have underperformed its industry, over the past three months. Moreover, the trend in estimate revisions of 2019 funds from operations (FFO) per share does not indicate a favorable outlook for the company. Notably, elevated supply in some of the company’s key markets is expected to affect its pricing power. Moreover, the company is making strategic dispositions to reduce its footprint in non-strategic regions. This is expected to result in dilution of near-term earnings. Further, hike in interest rate add to its woes. Nonetheless, productivity improvement efforts and healthy balance sheet with ample liquidity augur well for Host Hotels & Resorts’ long-term growth.”

Several other analysts have also recently weighed in on HST. Wells Fargo & Co set a $22.00 price objective on shares of Host Hotels and Resorts and gave the stock a buy rating in a research note on Tuesday, November 13th. Evercore ISI raised shares of Host Hotels and Resorts from an in-line rating to an outperform rating in a research note on Tuesday, December 18th. Citigroup cut shares of Host Hotels and Resorts from a buy rating to a neutral rating and decreased their price objective for the stock from $24.00 to $19.50 in a research note on Wednesday, December 12th. Barclays raised shares of Host Hotels and Resorts from an equal weight rating to an overweight rating and decreased their price objective for the stock from $23.00 to $22.00 in a research note on Tuesday, December 18th. Finally, Deutsche Bank set a $23.00 price objective on shares of Host Hotels and Resorts and gave the stock a buy rating in a research note on Saturday, November 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $21.50.

Shares of Host Hotels and Resorts stock opened at $18.21 on Monday. The company has a current ratio of 5.32, a quick ratio of 5.32 and a debt-to-equity ratio of 0.55. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 2.13 and a beta of 1.21. Host Hotels and Resorts has a 1-year low of $15.94 and a 1-year high of $22.47.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.39%. Host Hotels and Resorts’s payout ratio is 47.34%.

Hedge funds have recently made changes to their positions in the company. Crestline Management LP acquired a new position in shares of Host Hotels and Resorts during the third quarter worth approximately $6,720,000. Norinchukin Bank The lifted its holdings in Host Hotels and Resorts by 12.3% in the third quarter. Norinchukin Bank The now owns 100,790 shares of the real estate investment trust’s stock valued at $2,127,000 after buying an additional 11,043 shares during the period. Hartford Investment Management Co. lifted its holdings in Host Hotels and Resorts by 7.2% in the third quarter. Hartford Investment Management Co. now owns 144,703 shares of the real estate investment trust’s stock valued at $3,053,000 after buying an additional 9,763 shares during the period. Morgan Stanley lifted its holdings in Host Hotels and Resorts by 33.1% in the third quarter. Morgan Stanley now owns 13,485,722 shares of the real estate investment trust’s stock valued at $284,549,000 after buying an additional 3,350,658 shares during the period. Finally, Dupont Capital Management Corp lifted its holdings in Host Hotels and Resorts by 92.7% in the third quarter. Dupont Capital Management Corp now owns 254,104 shares of the real estate investment trust’s stock valued at $5,362,000 after buying an additional 122,260 shares during the period. Institutional investors own 98.04% of the company’s stock.

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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