Victory Capital Management Inc. Increases Position in Xenia Hotels & Resorts, Inc. (NYSE:XHR)

Key Points

• Victory Capital Management Inc. significantly increased its stake in Xenia Hotels & Resorts by 223.7% in Q1, owning approximately $3.96 million in shares.
• Xenia Hotels & Resorts recently announced a stock buyback plan allowing for the repurchase of up to $100 million in shares, indicating the board's belief in the stock's undervaluation.
• The company reported a quarterly earnings per share (EPS) of $0.51, exceeding analysts' expectations, with revenues rising 8.0% year-over-year to $288.93 million.

Victory Capital Management Inc. boosted its holdings in Xenia Hotels & Resorts, Inc. (NYSE:XHR - Free Report) by 223.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 337,051 shares of the real estate investment trust's stock after purchasing an additional 232,918 shares during the period. Victory Capital Management Inc. owned approximately 0.33% of Xenia Hotels & Resorts worth $3,964,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in XHR. Alyeska Investment Group L.P. lifted its stake in Xenia Hotels & Resorts by 258.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,655,365 shares of the real estate investment trust's stock worth $24,599,000 after purchasing an additional 1,193,990 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in Xenia Hotels & Resorts in the fourth quarter worth $15,982,000. Invesco Ltd. lifted its stake in Xenia Hotels & Resorts by 73.5% in the fourth quarter. Invesco Ltd. now owns 1,126,703 shares of the real estate investment trust's stock worth $16,743,000 after purchasing an additional 477,231 shares during the last quarter. Northern Trust Corp lifted its stake in Xenia Hotels & Resorts by 37.5% in the fourth quarter. Northern Trust Corp now owns 1,671,155 shares of the real estate investment trust's stock worth $24,833,000 after purchasing an additional 455,757 shares during the last quarter. Finally, BROOKFIELD Corp ON bought a new stake in Xenia Hotels & Resorts in the fourth quarter worth $6,218,000. 92.43% of the stock is owned by institutional investors.

Xenia Hotels & Resorts Trading Down 0.7%

Shares of NYSE XHR traded down $0.09 during midday trading on Thursday, hitting $12.61. 144,115 shares of the company traded hands, compared to its average volume of 930,836. Xenia Hotels & Resorts, Inc. has a 12-month low of $8.55 and a 12-month high of $16.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50-day moving average price of $12.58 and a 200 day moving average price of $12.59. The firm has a market cap of $1.24 billion, a P/E ratio of 57.30 and a beta of 1.64.

Xenia Hotels & Resorts (NYSE:XHR - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.09. Xenia Hotels & Resorts had a net margin of 2.19% and a return on equity of 1.80%. The company had revenue of $288.93 million for the quarter, compared to analysts' expectations of $276.51 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. Xenia Hotels & Resorts's quarterly revenue was up 8.0% on a year-over-year basis. As a group, analysts expect that Xenia Hotels & Resorts, Inc. will post 1.46 earnings per share for the current year.

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

Xenia Hotels & Resorts Dividend Announcement

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 $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Monday, June 30th. Xenia Hotels & Resorts's dividend payout ratio is currently 254.55%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on XHR shares. Morgan Stanley lowered their price target on shares of Xenia Hotels & Resorts from $11.00 to $9.00 and set an "underweight" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen raised shares of Xenia Hotels & Resorts from a "sell" rating to a "hold" rating in a research note on Monday, May 5th. Wells Fargo & Company upped their price objective on shares of Xenia Hotels & Resorts from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group downgraded shares of Xenia Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price objective for the company from $18.00 to $10.00 in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.90.

Xenia Hotels & Resorts Company 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.