Federated Hermes Inc. Sells 427,080 Shares of 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. decreased its position in shares of Xenia Hotels & Resorts, Inc. (NYSE:XHR - Free Report) by 78.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,661 shares of the real estate investment trust's stock after selling 427,080 shares during the quarter. Federated Hermes Inc. owned approximately 0.11% of Xenia Hotels & Resorts worth $1,348,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in Xenia Hotels & Resorts during the 4th quarter valued at $28,000. Allworth Financial LP lifted its stake 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 worth $30,000 after purchasing an additional 1,798 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Xenia Hotels & Resorts during the fourth quarter valued at about $47,000. Mackenzie Financial Corp purchased a new position in Xenia Hotels & Resorts in the first quarter valued at about $154,000. Finally, Dark Forest Capital Management LP bought a new position in Xenia Hotels & Resorts in the fourth quarter worth about $157,000. Hedge funds and other institutional investors own 92.43% of the company's stock.

Xenia Hotels & Resorts Stock Performance

Shares of Xenia Hotels & Resorts stock opened at $12.74 on Thursday. The company has a 50 day moving average price of $12.67 and a 200 day moving average price of $12.52. The firm has a market capitalization of $1.22 billion, a P/E ratio of 20.23 and a beta of 1.72. The company has a quick ratio of 1.95, a current ratio of 2.96 and a debt-to-equity ratio of 1.13. Xenia Hotels & Resorts, Inc. has a 52 week low of $8.55 and a 52 week high of $16.50.

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

Xenia Hotels & Resorts declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 14th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Xenia Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders 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 4.4%. The ex-dividend date was Monday, June 30th. Xenia Hotels & Resorts's payout ratio is presently 88.89%.

Wall Street Analyst Weigh In

XHR has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Xenia Hotels & Resorts from $12.00 to $14.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Morgan Stanley decreased their target price on shares of 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. Jefferies Financial Group lowered shares of Xenia Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the stock from $18.00 to $10.00 in a report on Wednesday, April 9th. Finally, Wall Street Zen lowered Xenia Hotels & Resorts from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One 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. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $12.90.

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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