Host Hotels & Resorts, Inc. $HST Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments cut its Host Hotels & Resorts stake by 40% in the third quarter, selling about 2.04 million shares; it retained roughly 3.05 million shares, worth $68.3 million.
• Company insiders sold a combined 224,174 shares worth approximately $5.47 million over the past three months. Institutional investors collectively own 98.52% of the stock.
• Host reported quarterly earnings of $0.10 per share, slightly above estimates, while revenue of $1.35 billion fell short of forecasts. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $25.55.

Russell Investments Group Ltd. trimmed its holdings in shares of Host Hotels & Resorts, Inc. (NASDAQ:HST - Free Report) by 40.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,051,990 shares of the company's stock after selling 2,038,544 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.45% of Host Hotels & Resorts worth $68,344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Host Hotels & Resorts during the second quarter valued at $2,096,191,000. Deutsche Bank AG acquired a new stake in Host Hotels & Resorts in the 2nd quarter worth about $296,560,000. Bank of America Corp DE purchased a new stake in Host Hotels & Resorts during the 2nd quarter worth approximately $295,807,000. Dimensional Fund Advisors LP increased its stake in Host Hotels & Resorts by 1.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,492,832 shares of the company's stock worth $201,042,000 after buying an additional 118,043 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Host Hotels & Resorts by 253.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,096,636 shares of the company's stock valued at $116,812,000 after acquiring an additional 4,373,449 shares during the last quarter. Hedge funds and other institutional investors own 98.52% of the company's stock.

Insider Activity

In related news, EVP Nathan S. Tyrrell sold 50,000 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $25.34, for a total transaction of $1,267,000.00. Following the completion of the transaction, the executive vice president owned 563,907 shares of the company's stock, valued at approximately $14,289,403.38. This trade represents a 8.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sourav Ghosh sold 93,863 shares of Host Hotels & Resorts stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $24.76, for a total transaction of $2,324,047.88. Following the completion of the sale, the executive vice president owned 418,147 shares of the company's stock, valued at $10,353,319.72. This trade represents a 18.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 224,174 shares of company stock valued at $5,472,826. Company insiders own 1.50% of the company's stock.

Host Hotels & Resorts Trading Down 0.1%

Host Hotels & Resorts stock traded down $0.02 during mid-day trading on Friday, hitting $25.50. The company's stock had a trading volume of 6,027,469 shares, compared to its average volume of 9,503,974. The stock's fifty day moving average is $23.57 and its two-hundred day moving average is $22.26. The company has a current ratio of 5.79, a quick ratio of 2.96 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $17.47 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09. Host Hotels & Resorts, Inc. has a 1 year low of $16.77 and a 1 year high of $26.19.

Host Hotels & Resorts (NASDAQ:HST - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.36 billion. Host Hotels & Resorts had a return on equity of 14.33% and a net margin of 15.01%. The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.35 EPS. On average, analysts anticipate that Host Hotels & Resorts, Inc. will post 2.20 EPS for the current year.

Host Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. Host Hotels & Resorts's dividend payout ratio (DPR) is currently 58.39%.

Analyst Upgrades and Downgrades

HST has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Host Hotels & Resorts from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, October 26th. Weiss Ratings downgraded shares of Host Hotels & Resorts from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, November 9th. Morgan Stanley upped their price objective on shares of Host Hotels & Resorts from $22.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, October 12th. Barclays raised their target price on shares of Host Hotels & Resorts from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 13th. Finally, Truist Financial upped their price target on Host Hotels & Resorts from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $25.55.

Host Hotels & Resorts Profile

Host Hotels & Resorts is a real estate investment trust that owns a portfolio of luxury and upper-upscale hotels and resorts. Its properties serve business and leisure travelers and are located primarily in the United States, with additional properties in international markets. The company's hotels are operated under a range of well-known brands, including Marriott, Hilton, Hyatt and Four Seasons. Host generally relies on brand companies and other third-party operators to manage its properties, while focusing on hotel ownership and real estate investment.

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