Cowen and Company Increases Host Hotels and Resorts Price Target to $26.00 (HST)
Equities research analysts at Cowen and Company upped their target price on shares of Host Hotels and Resorts (NYSE:HST) from $24.00 to $26.00 in a research note issued to investors on Tuesday. Cowen and Company’s target price would indicate a potential upside of 19.68% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Host Hotels and Resorts from $23.00 to $25.00 in a research note on Tuesday. Separately, analysts at JMP Securities reiterated a “market outperform” rating on shares of Host Hotels and Resorts in a research note on Friday. They now have a $24.00 price target on the stock, up previously from $23.00. Finally, analysts at Raymond James raised their price target on shares of Host Hotels and Resorts from $23.00 to $24.00 in a research note on Friday. They now have an “outperform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $23.26.
Host Hotels and Resorts (NYSE:HST) traded down 0.50% on Tuesday, hitting $21.85. 635,369 shares of the company’s stock traded hands. Host Hotels and Resorts has a one year low of $16.40 and a one year high of $23.25. The stock’s 50-day moving average is $22.42 and its 200-day moving average is $20.92. The company has a market cap of $16.546 billion and a P/E ratio of 35.25. Host Hotels and Resorts also saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 35,368,756 shares, a drop of 13.9% from the June 30th total of 41,070,891 shares. Based on an average trading volume of 5,476,079 shares, the short-interest ratio is presently 6.5 days. Currently, 4.8% of the company’s stock are short sold.
Host Hotels and Resorts (NYSE:HST) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.43 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.43. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the company posted $0.45 earnings per share. Host Hotels and Resorts’s revenue was up 2.3% compared to the same quarter last year. Analysts expect that Host Hotels and Resorts will post $1.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Friday, September 26th. This is a positive change from Host Hotels and Resorts’s previous quarterly dividend of $0.15.
Host Hotels & Resorts, Inc (NYSE:HST), incorporated on September 28, 1998 operates as a self-managed and self-administered REIT.
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