Victory Capital Management Inc. Has $3.96 Million Holdings 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. lifted its position in shares of Xenia Hotels & Resorts, Inc. (NYSE:XHR - Free Report) by 223.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 337,051 shares of the real estate investment trust's stock after buying an additional 232,918 shares during the quarter. Victory Capital Management Inc. owned about 0.33% of Xenia Hotels & Resorts worth $3,964,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Asset Management One Co. Ltd. boosted its stake in Xenia Hotels & Resorts by 0.8% during the first quarter. Asset Management One Co. Ltd. now owns 153,705 shares of the real estate investment trust's stock worth $1,808,000 after acquiring an additional 1,204 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Xenia Hotels & Resorts by 4.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 31,900 shares of the real estate investment trust's stock worth $375,000 after acquiring an additional 1,327 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Xenia Hotels & Resorts by 8.2% during the first quarter. QRG Capital Management Inc. now owns 19,963 shares of the real estate investment trust's stock worth $235,000 after buying an additional 1,518 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Xenia Hotels & Resorts by 2.6% during the fourth quarter. MetLife Investment Management LLC now owns 65,000 shares of the real estate investment trust's stock worth $966,000 after buying an additional 1,661 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Xenia Hotels & Resorts by 231.4% during the first quarter. Allworth Financial LP now owns 2,575 shares of the real estate investment trust's stock worth $30,000 after buying an additional 1,798 shares during the last quarter. 92.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

XHR has been the subject of several analyst reports. Wells Fargo & Company increased their target price 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 lowered 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 report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Xenia Hotels & Resorts from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Finally, Jefferies Financial Group downgraded shares of Xenia Hotels & Resorts from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $18.00 to $10.00 in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.90.

Xenia Hotels & Resorts Trading Up 1.1%

NYSE:XHR opened at $13.26 on Monday. The company has a fifty day moving average of $12.52 and a 200 day moving average of $12.60. Xenia Hotels & Resorts, Inc. has a 52 week low of $8.55 and a 52 week high of $16.50. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $1.31 billion, a P/E ratio of 60.25 and a beta of 1.64.

Xenia Hotels & Resorts (NYSE:XHR - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, topping 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 business had revenue of $288.93 million during the quarter, compared to analyst estimates of $276.51 million. During the same period in the prior year, the business earned $0.44 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts predict that Xenia Hotels & Resorts, Inc. will post 1.46 earnings per share for the current year.

Xenia Hotels & Resorts announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 14th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

Xenia Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.56 annualized dividend and a dividend yield of 4.22%. Xenia Hotels & Resorts's payout ratio is 254.55%.

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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