Bank of America Corp DE Acquires 128,721 Shares of Xenia Hotels & Resorts, Inc. (NYSE:XHR)

Bank of America Corp DE boosted its holdings in shares of Xenia Hotels & Resorts, Inc. (NYSE:XHR - Free Report) by 89.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 272,368 shares of the real estate investment trust's stock after buying an additional 128,721 shares during the period. Bank of America Corp DE owned approximately 0.27% of Xenia Hotels & Resorts worth $4,047,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its stake in Xenia Hotels & Resorts by 500.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,988 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 1,657 shares during the period. Creekmur Asset Management LLC bought a new stake in Xenia Hotels & Resorts during the fourth quarter valued at $30,000. Fifth Third Bancorp boosted its stake in Xenia Hotels & Resorts by 2,492.9% during the fourth quarter. Fifth Third Bancorp now owns 2,541 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 2,443 shares during the period. KBC Group NV raised its position in Xenia Hotels & Resorts by 67.1% during the fourth quarter. KBC Group NV now owns 6,365 shares of the real estate investment trust's stock valued at $95,000 after purchasing an additional 2,557 shares in the last quarter. Finally, IFP Advisors Inc raised its position in Xenia Hotels & Resorts by 16.5% during the fourth quarter. IFP Advisors Inc now owns 8,817 shares of the real estate investment trust's stock valued at $131,000 after purchasing an additional 1,250 shares in the last quarter. Institutional investors own 92.43% of the company's stock.

Xenia Hotels & Resorts Trading Up 2.6%

Shares of XHR traded up $0.31 during trading hours on Tuesday, hitting $12.22. The company had a trading volume of 925,617 shares, compared to its average volume of 817,667. The firm has a market cap of $1.21 billion, a P/E ratio of 53.13 and a beta of 1.60. The stock's 50 day moving average price is $11.05 and its 200 day moving average price is $13.32. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.07. Xenia Hotels & Resorts, Inc. has a 52-week low of $8.55 and a 52-week high of $16.50.

Xenia Hotels & Resorts (NYSE:XHR - Get Free Report) last posted its earnings results on Friday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.09. The company had revenue of $288.93 million for the quarter, compared to analysts' expectations of $276.51 million. Xenia Hotels & Resorts had a return on equity of 1.86% and a net margin of 2.37%. Xenia Hotels & Resorts's quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, research analysts predict that Xenia Hotels & Resorts, Inc. will post 1.46 EPS for the current year.

Xenia Hotels & Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.56 annualized dividend and a dividend yield of 4.58%. Xenia Hotels & Resorts's payout ratio is presently 254.55%.

Xenia Hotels & Resorts announced that its board has initiated a stock buyback program on Wednesday, May 14th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase up to 8.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on XHR shares. Jefferies Financial Group downgraded Xenia Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price target for the company from $18.00 to $10.00 in a research report on Wednesday, April 9th. KeyCorp lowered their price target on Xenia Hotels & Resorts from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Wall Street Zen upgraded Xenia Hotels & Resorts from a "sell" rating to a "hold" rating in a research report on Monday, May 5th. Wells Fargo & Company lowered their price target on Xenia Hotels & Resorts from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 18th. Finally, Morgan Stanley lowered their price target on Xenia Hotels & Resorts from $11.00 to $9.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $13.50.

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.