Picton Mahoney Asset Management Buys 92,915 Shares of Host Hotels & Resorts, Inc. (NASDAQ:HST)

Key Points

• Picton Mahoney Asset Management has increased its stake in Host Hotels & Resorts by 18.7%, acquiring an additional 92,915 shares, bringing its total ownership to approximately 588,864 shares valued at $8.37 million.
• The company reported an earnings per share of $0.64 for the latest quarter, exceeding analysts' expectations, while also recording an 8.4% year-over-year increase in revenue.
• Host Hotels & Resorts recently declared a quarterly dividend of $0.20 per share, resulting in an annualized dividend yield of 4.88%.

Picton Mahoney Asset Management lifted its stake in Host Hotels & Resorts, Inc. (NASDAQ:HST - Free Report) by 18.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 588,864 shares of the company's stock after purchasing an additional 92,915 shares during the quarter. Picton Mahoney Asset Management owned about 0.08% of Host Hotels & Resorts worth $8,368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its position in shares of Host Hotels & Resorts by 66.0% in the 1st quarter. Mackenzie Financial Corp now owns 142,119 shares of the company's stock worth $2,020,000 after purchasing an additional 56,515 shares in the last quarter. LPL Financial LLC boosted its position in shares of Host Hotels & Resorts by 5.5% in the 1st quarter. LPL Financial LLC now owns 140,729 shares of the company's stock worth $2,000,000 after purchasing an additional 7,299 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Host Hotels & Resorts by 16.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,582,696 shares of the company's stock valued at $22,490,000 after acquiring an additional 228,895 shares in the last quarter. HB Wealth Management LLC bought a new stake in shares of Host Hotels & Resorts during the first quarter valued at approximately $163,000. Finally, TD Asset Management Inc increased its position in shares of Host Hotels & Resorts by 11.0% during the first quarter. TD Asset Management Inc now owns 336,209 shares of the company's stock valued at $4,778,000 after acquiring an additional 33,251 shares in the last quarter. 98.52% of the stock is owned by institutional investors.

Host Hotels & Resorts Trading Down 0.9%

NASDAQ:HST opened at $16.40 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.76. Host Hotels & Resorts, Inc. has a 12 month low of $12.22 and a 12 month high of $19.36. The company has a market cap of $11.38 billion, a PE ratio of 17.08 and a beta of 1.31. The company has a 50 day simple moving average of $15.81 and a two-hundred day simple moving average of $15.52.

Host Hotels & Resorts (NASDAQ:HST - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.08. Host Hotels & Resorts had a net margin of 11.66% and a return on equity of 10.11%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts forecast that Host Hotels & Resorts, Inc. will post 1.88 earnings per share for the current year.

Host Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date was Monday, June 30th. Host Hotels & Resorts's payout ratio is 83.33%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HST. Evercore ISI raised their price target on shares of Host Hotels & Resorts from $19.00 to $20.00 and gave the company an "outperform" rating in a research report on Monday. Jefferies Financial Group downgraded shares of Host Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price target for the company from $20.00 to $14.00 in a research report on Wednesday, April 9th. Morgan Stanley reissued an "outperform" rating on shares of Host Hotels & Resorts in a research report on Tuesday, July 15th. JPMorgan Chase & Co. initiated coverage on shares of Host Hotels & Resorts in a research report on Monday, June 23rd. They set a "neutral" rating and a $16.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Host Hotels & Resorts from $16.00 to $18.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Host Hotels & Resorts currently has a consensus rating of "Hold" and a consensus target price of $18.12.

About Host Hotels & Resorts

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.

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