Nomura Upgrades Host Hotels & Resorts to Buy (HST)
Host Hotels & Resorts (NYSE:HST) was upgraded by analysts at Nomura from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $22.00 price objective on the stock, up from their previous price objective of $21.00. Nomura’s price objective would indicate a potential upside of 21.75% from the stock’s previous close.
The analysts wrote, “We are upgrading HST to Buy and increasing our target to $22 from $21. Using our 2015E EBITDA, there is potential for the stock to reach $25 in 18 months. Total potential return based on our estimates, including dividend, is of 24% in 12 months and 40% in 18-24 months. As a REIT, HST owns, but does not operate hotels, and as such, has the most operating leverage to the lodging cycle. HST has been upgrading and judiciously adding to its owned portfolio in key gateway markets where it expects the greatest RevPAR upside. Opportunities include: Stronger RevPAR growth; HST’s owned margin of ~24% is 400bp below peak in 2007; Increase shareholder returns and REITS in Rising Interest Rate Environments.”
Several other analysts have also recently commented on the stock. Analysts at TheStreet downgraded shares of Host Hotels & Resorts to a “hold” rating in a research note to investors on Monday, December 9th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Host Hotels & Resorts in a research note to investors on Wednesday, December 4th. They now have a $19.00 price target on the stock. Finally, analysts at Raymond James raised their price target on shares of Host Hotels & Resorts from $20.00 to $21.00 in a research note to investors on Wednesday, November 6th. They now have an “outperform” rating on the stock. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $19.88.
Host Hotels & Resorts (NYSE:HST) opened at 18.07 on Monday. Host Hotels & Resorts has a 1-year low of $15.21 and a 1-year high of $19.26. The stock has a 50-day moving average of $18.52 and a 200-day moving average of $17.85. The company has a market cap of $13.666 billion and a price-to-earnings ratio of 66.19.
Host Hotels & Resorts (NYSE:HST) last announced its earnings results on Tuesday, November 5th. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.27 by $0.02. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts expect that Host Hotels & Resorts will post $1.30 EPS for the current fiscal year.
In other Host Hotels & Resorts news, CEO W Edward Walter unloaded 100,000 shares of Host Hotels & Resorts stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $18.48, for a total value of $1,848,000.00. Following the completion of the transaction, the chief executive officer now directly owns 394,818 shares in the company, valued at approximately $7,296,237. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Host Hotels & Resorts, Inc (NYSE:HST), incorporated on September 28, 1998 operates as a self-managed and self-administered REIT.
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