Federated Hermes Inc. Decreases Holdings in Xenia Hotels & Resorts, Inc. (NYSE:XHR)

Key Points

• Federated Hermes Inc. has reduced its stake in Xenia Hotels & Resorts by 78.8%, selling 427,080 shares and holding only 114,661 shares post-sale.
• Xenia Hotels & Resorts reported a quarterly earnings per share (EPS) of $0.57, surpassing analysts' expectations of $0.43, and its revenue was up 5.4% year-over-year.
• The company announced a $100 million stock repurchase program, indicating management's belief that the stock is undervalued, and it declared a quarterly dividend of $0.14 per share.

Federated Hermes Inc. trimmed its holdings in Xenia Hotels & Resorts, Inc. (NYSE:XHR - Free Report) by 78.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,661 shares of the real estate investment trust's stock after selling 427,080 shares during the period. Federated Hermes Inc. owned 0.11% of Xenia Hotels & Resorts worth $1,348,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Asset Management One Co. Ltd. increased its stake in Xenia Hotels & Resorts by 0.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 153,705 shares of the real estate investment trust's stock worth $1,808,000 after acquiring an additional 1,204 shares during the period. Oppenheimer Asset Management Inc. grew its position in Xenia Hotels & Resorts by 4.3% during the 1st 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 during the last quarter. QRG Capital Management Inc. grew its position in Xenia Hotels & Resorts by 8.2% during the 1st quarter. QRG Capital Management Inc. now owns 19,963 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 1,518 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Xenia Hotels & Resorts by 2.6% in 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 buying 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% in the 1st quarter. Allworth Financial LP now owns 2,575 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 1,798 shares during the last quarter. 92.43% of the stock is owned by institutional investors and hedge funds.

Xenia Hotels & Resorts Price Performance

NYSE XHR traded down $0.28 during trading hours on Friday, reaching $12.51. 1,615,632 shares of the stock traded hands, compared to its average volume of 1,221,225. The stock has a 50 day simple moving average of $12.68 and a two-hundred day simple moving average of $12.47. Xenia Hotels & Resorts, Inc. has a 1 year low of $8.55 and a 1 year high of $16.50. 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 market cap of $1.20 billion, a price-to-earnings ratio of 19.85 and a beta of 1.72.

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

Xenia Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, June 30th. Xenia Hotels & Resorts's payout ratio is currently 88.89%.

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

Wall Street Analyst Weigh In

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

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.