Vestcor Inc Invests $320,000 in Xenia Hotels & Resorts, Inc. (NYSE:XHR)

Key Points

• Vestcor Inc has acquired 27,183 shares of Xenia Hotels & Resorts, valued at approximately $320,000, highlighting ongoing interest from institutional investors in the real estate investment trust.
• Recent analyst ratings have been mixed, with Wall Street Zen downgrading XHR to a "hold," while Wells Fargo raised their price target from $12.00 to $14.00, indicating varied investor sentiment.
• Xenia Hotels & Resorts reported better-than-expected quarterly earnings, with $0.57 EPS and revenue of $287.58 million, surpassing consensus estimates and reflecting a 5.4% increase year-over-year.

Vestcor Inc bought a new position in shares of Xenia Hotels & Resorts, Inc. (NYSE:XHR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 27,183 shares of the real estate investment trust's stock, valued at approximately $320,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of XHR. Alyeska Investment Group L.P. boosted its holdings in shares of Xenia Hotels & Resorts by 258.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,655,365 shares of the real estate investment trust's stock worth $24,599,000 after buying an additional 1,193,990 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new position in shares of Xenia Hotels & Resorts in the 4th quarter worth $15,982,000. Invesco Ltd. raised its position in Xenia Hotels & Resorts by 73.5% in the 4th quarter. Invesco Ltd. now owns 1,126,703 shares of the real estate investment trust's stock valued at $16,743,000 after buying an additional 477,231 shares during the last quarter. Northern Trust Corp increased its position in shares of Xenia Hotels & Resorts by 37.5% during the 4th quarter. Northern Trust Corp now owns 1,671,155 shares of the real estate investment trust's stock valued at $24,833,000 after purchasing an additional 455,757 shares during the last quarter. Finally, BROOKFIELD Corp ON purchased a new stake in shares of Xenia Hotels & Resorts during the 4th quarter valued at $6,218,000. Institutional investors and hedge funds own 92.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on XHR shares. Morgan Stanley decreased their price objective on Xenia Hotels & Resorts from $11.00 to $9.00 and set an "underweight" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lifted their price target on Xenia Hotels & Resorts from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen downgraded Xenia Hotels & Resorts from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Xenia Hotels & Resorts currently has an average rating of "Hold" and an average target price of $12.25.

Xenia Hotels & Resorts Trading Down 1.7%

Xenia Hotels & Resorts stock traded down $0.22 during trading hours on Friday, reaching $12.57. The company had a trading volume of 846,372 shares, compared to its average volume of 962,880. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.96 and a quick ratio of 1.95. The company has a 50-day moving average price of $12.68 and a 200 day moving average price of $12.50. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 19.94 and a beta of 1.72. Xenia Hotels & Resorts, Inc. has a 12-month low of $8.55 and a 12-month high of $16.50.

Xenia Hotels & Resorts (NYSE:XHR - Get Free Report) last posted its earnings results on Friday, August 1st. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.14. Xenia Hotels & Resorts had a return on equity of 4.95% and a net margin of 5.86%. The firm had revenue of $287.58 million for the quarter, compared to analysts' expectations of $273.43 million. During the same period in the previous year, the firm earned $0.52 earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. Equities analysts forecast that Xenia Hotels & Resorts, Inc. will post 1.46 earnings per share for the current year.

Xenia Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, June 30th. Xenia Hotels & Resorts's payout ratio is 88.89%.

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

Xenia Hotels & Resorts Profile

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.