Host Hotels & Resorts (NASDAQ:HST) Issues FY 2024 Earnings Guidance

Host Hotels & Resorts (NASDAQ:HST - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 1.970-2.050 for the period, compared to the consensus EPS estimate of 1.980. The company issued revenue guidance of $5.7 billion-$5.8 billion, compared to the consensus revenue estimate of $5.6 billion. Host Hotels & Resorts also updated its FY24 guidance to $1.97-$2.05 EPS.

Host Hotels & Resorts Price Performance

Shares of HST stock traded down $0.03 during mid-day trading on Wednesday, hitting $18.84. 8,868,266 shares of the stock were exchanged, compared to its average volume of 5,985,332. The firm has a fifty day moving average of $20.21 and a 200 day moving average of $18.98. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.63. Host Hotels & Resorts has a 52-week low of $14.92 and a 52-week high of $21.31. The company has a market cap of $13.26 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.71 and a beta of 1.31.

Host Hotels & Resorts (NASDAQ:HST - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.25). The company had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.29 billion. Host Hotels & Resorts had a net margin of 13.93% and a return on equity of 10.82%. The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 earnings per share. Research analysts anticipate that Host Hotels & Resorts will post 1.97 earnings per share for the current year.

Host Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.25%. This is a positive change from Host Hotels & Resorts's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, March 27th. Host Hotels & Resorts's dividend payout ratio (DPR) is 76.92%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Jefferies Financial Group raised their price target on shares of Host Hotels & Resorts from $21.00 to $24.00 and gave the stock a buy rating in a report on Tuesday, January 2nd. Wells Fargo & Company lifted their target price on shares of Host Hotels & Resorts from $22.00 to $23.00 and gave the company an overweight rating in a report on Thursday, March 21st. Bank of America upgraded shares of Host Hotels & Resorts from an underperform rating to a buy rating and lifted their target price for the company from $18.00 to $23.00 in a report on Monday, January 8th. Stifel Nicolaus lifted their target price on shares of Host Hotels & Resorts from $20.00 to $21.00 and gave the company a buy rating in a report on Wednesday, January 24th. Finally, Barclays lifted their target price on shares of Host Hotels & Resorts from $23.00 to $25.00 and gave the company an overweight rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Host Hotels & Resorts presently has an average rating of Moderate Buy and a consensus price target of $21.33.

Insider Buying and Selling at Host Hotels & Resorts

In other news, CEO James F. Risoleo sold 28,136 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $21.04, for a total transaction of $591,981.44. Following the transaction, the chief executive officer now directly owns 2,225,577 shares in the company, valued at $46,826,140.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

About Host Hotels & Resorts

Host Hotels & Resorts, Inc is an S&P 500 company and is the largest lodging real estate investment trust and one of the largest owners of luxury and upper-upscale hotels. The Company currently owns 72 properties in the United States and five properties internationally totaling approximately 42,000 rooms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.