Mackenzie Financial Corp Raises Stake in Host Hotels & Resorts, Inc. (NASDAQ:HST)

Key Points

• Mackenzie Financial Corp increased its stake in Host Hotels & Resorts by 66.0% in the first quarter, owning 142,119 shares worth approximately $2,020,000.
• Host Hotels & Resorts reported $0.58 earnings per share, exceeding analysts' estimates of $0.51, and showed a 8.2% year-over-year revenue increase to $1.59 billion.
• The company's recent quarterly dividend of $0.20 per share offers a yield of 5.2%, with a payout ratio of 85.11%.

Mackenzie Financial Corp lifted its stake in shares of Host Hotels & Resorts, Inc. (NASDAQ:HST - Free Report) by 66.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 142,119 shares of the company's stock after purchasing an additional 56,515 shares during the quarter. Mackenzie Financial Corp's holdings in Host Hotels & Resorts were worth $2,020,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HST. Mirae Asset Global Investments Co. Ltd. grew its holdings in Host Hotels & Resorts by 3.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,836 shares of the company's stock valued at $1,582,000 after purchasing an additional 3,732 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Host Hotels & Resorts in the 1st quarter worth about $1,453,000. Cerity Partners LLC grew its stake in Host Hotels & Resorts by 32.9% in the 1st quarter. Cerity Partners LLC now owns 38,425 shares of the company's stock valued at $546,000 after acquiring an additional 9,508 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Host Hotels & Resorts by 0.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 792,420 shares of the company's stock valued at $11,260,000 after acquiring an additional 6,592 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in Host Hotels & Resorts by 48.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 50,983 shares of the company's stock valued at $724,000 after acquiring an additional 16,694 shares in the last quarter. Hedge funds and other institutional investors own 98.52% of the company's stock.

Host Hotels & Resorts Price Performance

HST stock opened at $15.53 on Monday. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 16.52 and a beta of 1.34. The company has a quick ratio of 2.08, a current ratio of 2.20 and a debt-to-equity ratio of 0.76. Host Hotels & Resorts, Inc. has a 52-week low of $12.22 and a 52-week high of $19.36. The stock's fifty day simple moving average is $15.89 and its 200-day simple moving average is $15.48.

Host Hotels & Resorts (NASDAQ:HST - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.07. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.51 billion. Host Hotels & Resorts had a return on equity of 9.90% and a net margin of 11.12%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. Equities research analysts expect that Host Hotels & Resorts, Inc. will post 1.88 EPS for the current year.

Host Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.80 annualized dividend and a yield of 5.2%. Host Hotels & Resorts's dividend payout ratio is 85.11%.

Wall Street Analyst Weigh In

HST has been the topic of several recent research reports. JPMorgan Chase & Co. started coverage on shares of Host Hotels & Resorts in a report on Monday, June 23rd. They issued a "neutral" rating and a $16.00 price target on the stock. Stifel Nicolaus lifted their price objective on Host Hotels & Resorts from $17.00 to $18.50 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley reaffirmed an "outperform" rating on shares of Host Hotels & Resorts in a research note on Tuesday, July 15th. Wells Fargo & Company increased their target price on Host Hotels & Resorts from $16.00 to $18.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Jefferies Financial Group cut Host Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price target for the stock from $20.00 to $14.00 in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Host Hotels & Resorts has an average rating of "Hold" and a consensus price target of $17.96.

Host Hotels & Resorts Profile

Host Hotels & Resorts, Inc is a real estate investment trust, which engages in the management of luxury and upper-upscale hotels. It operates through the following geographical segments: United States, Brazil, and Canada. The company was founded in 1927 and is headquartered in Bethesda, MD.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.