Xenia Hotels & Resorts (NYSE:XHR) Downgraded by Wall Street Zen to "Hold"

Key Points

• Xenia Hotels & Resorts has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, with analysts expressing a cautious outlook on the stock.
• The company's recent quarterly earnings exceeded estimates, reporting $0.57 earnings per share and revenue of $287.58 million, indicating growth compared to the previous year.
• Following the downgrades, Xenia Hotels & Resorts holds an average consensus rating of "Hold" and a target price of $12.90, according to MarketBeat.

Wall Street Zen downgraded shares of Xenia Hotels & Resorts (NYSE:XHR - Free Report) from a buy rating to a hold rating in a research report report published on Saturday morning.

XHR has been the subject of several other research reports. Jefferies Financial Group downgraded shares of Xenia Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their target price for the stock from $18.00 to $10.00 in a report on Wednesday, April 9th. Morgan Stanley decreased their target price on shares of 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. Finally, Wells Fargo & Company upped their target price on shares of Xenia Hotels & Resorts from $12.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Xenia Hotels & Resorts has a consensus rating of "Hold" and a consensus price target of $12.90.

Xenia Hotels & Resorts Stock Down 0.4%

NYSE XHR traded down $0.06 during mid-day trading on Friday, reaching $12.74. The stock had a trading volume of 852,923 shares, compared to its average volume of 950,417. The stock has a market cap of $1.26 billion, a PE ratio of 20.21 and a beta of 1.72. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.96 and a quick ratio of 1.95. The company has a fifty day moving average price of $12.64 and a 200 day moving average price of $12.52. Xenia Hotels & Resorts has a 1 year low of $8.55 and a 1 year high of $16.50.

Xenia Hotels & Resorts (NYSE:XHR - Get Free Report) last announced its earnings results on Friday, August 1st. The real estate investment trust reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.14. The business had revenue of $287.58 million during the quarter, compared to analyst estimates of $273.43 million. Xenia Hotels & Resorts had a net margin of 5.86% and a return on equity of 4.95%. The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. On average, research analysts expect that Xenia Hotels & Resorts will post 1.46 earnings per share for the current year.

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

Xenia Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.14 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.4%. Xenia Hotels & Resorts's dividend payout ratio (DPR) is currently 88.89%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in Xenia Hotels & Resorts during the fourth quarter worth about $28,000. Allworth Financial LP boosted its holdings in Xenia Hotels & Resorts by 231.4% in the 1st quarter. Allworth Financial LP now owns 2,575 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 1,798 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Xenia Hotels & Resorts in the 4th quarter valued at about $47,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Xenia Hotels & Resorts in the 1st quarter valued at about $68,000. Finally, GAMMA Investing LLC boosted its holdings in Xenia Hotels & Resorts by 288.8% in the 2nd quarter. GAMMA Investing LLC now owns 6,438 shares of the real estate investment trust's stock valued at $81,000 after purchasing an additional 4,782 shares during the last quarter. Hedge funds and other institutional investors own 92.43% of the company's stock.

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.