Wolverine Asset Management LLC Increases Stock Position in Host Hotels & Resorts, Inc. (NASDAQ:HST)

Key Points

• Wolverine Asset Management LLC has boosted its stake in Host Hotels & Resorts by 29.4%, acquiring an additional 37,323 shares, bringing its total to 164,400 shares valued at approximately $2.3 million.
• Host Hotels & Resorts has seen significant increases in holdings by other hedge funds, with institutional investors collectively owning 98.52% of the company's stock.
• The stock currently holds a consensus rating of "Hold" with a target price of approximately $17.88, following multiple analysts' upgrades and positive earnings performance.

Wolverine Asset Management LLC grew its stake in shares of Host Hotels & Resorts, Inc. (NASDAQ:HST - Free Report) by 29.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 164,400 shares of the company's stock after buying an additional 37,323 shares during the period. Wolverine Asset Management LLC's holdings in Host Hotels & Resorts were worth $2,336,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Freedom Investment Management Inc. lifted its holdings in Host Hotels & Resorts by 2.9% in the fourth quarter. Freedom Investment Management Inc. now owns 22,216 shares of the company's stock valued at $389,000 after buying an additional 622 shares during the period. Evergreen Wealth Solutions LLC raised its holdings in Host Hotels & Resorts by 5.3% in the fourth quarter. Evergreen Wealth Solutions LLC now owns 12,932 shares of the company's stock worth $227,000 after purchasing an additional 651 shares during the period. Ascent Group LLC raised its holdings in Host Hotels & Resorts by 4.4% in the fourth quarter. Ascent Group LLC now owns 16,549 shares of the company's stock worth $290,000 after purchasing an additional 703 shares during the period. Resonant Capital Advisors LLC raised its holdings in Host Hotels & Resorts by 5.2% in the first quarter. Resonant Capital Advisors LLC now owns 15,255 shares of the company's stock worth $220,000 after purchasing an additional 760 shares during the period. Finally, Impact Investors Inc raised its holdings in Host Hotels & Resorts by 1.3% in the first quarter. Impact Investors Inc now owns 59,112 shares of the company's stock worth $840,000 after purchasing an additional 773 shares during the period. Institutional investors own 98.52% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Evercore ISI increased their target price on shares of Host Hotels & Resorts from $19.00 to $20.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. JPMorgan Chase & Co. assumed coverage on shares of Host Hotels & Resorts in a research report on Monday, June 23rd. They issued a "neutral" rating and a $16.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Host Hotels & Resorts from $17.00 to $18.50 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wells Fargo & Company lifted their target price on shares of Host Hotels & Resorts from $16.00 to $18.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, Morgan Stanley restated an "outperform" rating on shares of Host Hotels & Resorts in a research report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Host Hotels & Resorts currently has a consensus rating of "Hold" and a consensus target price of $17.50.

Host Hotels & Resorts Stock Up 1.3%

Shares of Host Hotels & Resorts stock traded up $0.21 during trading on Wednesday, reaching $15.96. 3,337,622 shares of the company traded hands, compared to its average volume of 9,847,771. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.20 and a quick ratio of 2.20. The company has a 50 day moving average price of $15.90 and a 200-day moving average price of $15.41. The firm has a market capitalization of $10.97 billion, a PE ratio of 16.97 and a beta of 1.34. Host Hotels & Resorts, Inc. has a 1-year low of $12.22 and a 1-year high of $19.36.

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

Host Hotels & Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Monday, June 30th. Host Hotels & Resorts's dividend payout ratio (DPR) is currently 85.11%.

Host Hotels & Resorts Company 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.