Allianz Asset Management GmbH Has $6.16 Million Position in Xenia Hotels & Resorts, Inc. (NYSE:XHR)

Key Points

• Allianz Asset Management GmbH increased its holdings in Xenia Hotels & Resorts by 21.9%, owning approximately 0.52% of the company's stock valued at $6.16 million after purchasing additional shares in the first quarter.
• Xenia Hotels & Resorts reported a quarterly earnings per share of $0.51, exceeding expectations, with a revenue increase of 8% year-over-year.
• The company has authorized a $100 million share buyback plan, indicating that its board believes the stock is undervalued.

Allianz Asset Management GmbH lifted its position in shares of Xenia Hotels & Resorts, Inc. (NYSE:XHR - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 523,783 shares of the real estate investment trust's stock after acquiring an additional 94,204 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.52% of Xenia Hotels & Resorts worth $6,160,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Asset Management One Co. Ltd. raised its stake in Xenia Hotels & Resorts by 0.8% during the first quarter. Asset Management One Co. Ltd. now owns 153,705 shares of the real estate investment trust's stock worth $1,808,000 after buying an additional 1,204 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Xenia Hotels & Resorts by 4.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 31,900 shares of the real estate investment trust's stock worth $375,000 after acquiring an additional 1,327 shares in the last quarter. QRG Capital Management Inc. grew its position in Xenia Hotels & Resorts by 8.2% in the 1st 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 in the last quarter. MetLife Investment Management LLC increased its position in shares of Xenia Hotels & Resorts by 2.6% during 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. Finally, Allworth Financial LP grew its position in shares of Xenia Hotels & Resorts by 231.4% during the 1st quarter. Allworth Financial LP now owns 2,575 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 1,798 shares during the period. Institutional investors own 92.43% of the company's stock.

Wall Street Analysts Forecast Growth

XHR has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Xenia Hotels & Resorts from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Morgan Stanley lowered their price objective on shares of Xenia Hotels & Resorts from $11.00 to $9.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company increased their price objective on shares of 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, Jefferies Financial Group lowered Xenia Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $18.00 to $10.00 in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Xenia Hotels & Resorts presently has a consensus rating of "Hold" and an average price target of $12.90.

Xenia Hotels & Resorts Stock Performance

Shares of NYSE:XHR traded down $0.09 during midday trading on Thursday, reaching $12.60. The company's stock had a trading volume of 144,115 shares, compared to its average volume of 930,836. The firm has a market capitalization of $1.24 billion, a PE ratio of 57.30 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 moving average of $12.58 and a 200 day moving average of $12.59. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.14.

Xenia Hotels & Resorts (NYSE:XHR - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.09. The firm had revenue of $288.93 million during the quarter, compared to analysts' expectations of $276.51 million. Xenia Hotels & Resorts had a net margin of 2.19% and a return on equity of 1.80%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, equities analysts expect that Xenia Hotels & Resorts, Inc. will post 1.46 EPS for the current fiscal year.

Xenia Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Monday, June 30th. Xenia Hotels & Resorts's dividend payout ratio (DPR) is presently 254.55%.

Xenia Hotels & Resorts announced that its board has initiated a share repurchase program on Wednesday, May 14th that authorizes the company to repurchase $100.00 million in 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 board of directors believes its shares are undervalued.

Xenia Hotels & Resorts Company 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.