Bank of New York Mellon Corp Sells 48,353 Shares of Xenia Hotels & Resorts, Inc. (NYSE:XHR)

Bank of New York Mellon Corp lowered its stake in Xenia Hotels & Resorts, Inc. (NYSE:XHR - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 844,885 shares of the real estate investment trust's stock after selling 48,353 shares during the period. Bank of New York Mellon Corp owned 0.83% of Xenia Hotels & Resorts worth $9,936,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. 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 valued at $24,599,000 after buying an additional 1,193,990 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in shares of Xenia Hotels & Resorts during the 4th quarter valued at $15,982,000. Invesco Ltd. raised its position in shares of 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 worth $16,743,000 after purchasing an additional 477,231 shares during the last quarter. Northern Trust Corp raised its position in shares of Xenia Hotels & Resorts by 37.5% in the 4th quarter. Northern Trust Corp now owns 1,671,155 shares of the real estate investment trust's stock worth $24,833,000 after purchasing an additional 455,757 shares during the last quarter. Finally, BROOKFIELD Corp ON purchased a new position in shares of Xenia Hotels & Resorts in the 4th quarter worth about $6,218,000. Institutional investors own 92.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on XHR shares. Jefferies Financial Group lowered Xenia Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price target for the stock from $18.00 to $10.00 in a research report on Wednesday, April 9th. KeyCorp lowered their price target on Xenia Hotels & Resorts from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Morgan Stanley lowered their price target on Xenia Hotels & Resorts from $11.00 to $9.00 and set an "underweight" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen raised Xenia Hotels & Resorts from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company lifted their price target on Xenia Hotels & Resorts from $12.00 to $14.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $12.90.

Xenia Hotels & Resorts Trading Up 0.4%

NYSE:XHR opened at $12.79 on Tuesday. The stock has a market cap of $1.26 billion, a P/E ratio of 58.12 and a beta of 1.64. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.95 and a current ratio of 1.95. Xenia Hotels & Resorts, Inc. has a 1 year low of $8.55 and a 1 year high of $16.50. The stock has a 50-day simple moving average of $12.44 and a 200-day simple moving average of $12.64.

Xenia Hotels & Resorts (NYSE:XHR - Get Free Report) last announced its earnings results on Friday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) 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 return on equity of 1.80% and a net margin of 2.19%. The business's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. As a group, analysts anticipate that Xenia Hotels & Resorts, Inc. will post 1.46 earnings per share for the current fiscal year.

Xenia Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.14 per share. The ex-dividend date was Monday, June 30th. This represents a $0.56 dividend on an annualized basis and a yield of 4.38%. Xenia Hotels & Resorts's payout ratio is 254.55%.

Xenia Hotels & Resorts announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 8.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

About Xenia Hotels & Resorts

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.

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