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

Host Hotels & Resorts (NASDAQ:HST) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.920-1.920 for the period, compared to the consensus earnings per share estimate of 1.950. The company issued revenue guidance of $5.6 billion-$5.6 billion, compared to the consensus revenue estimate of $5.6 billion. Host Hotels & Resorts also updated its FY24 guidance to $1.92-1.94 EPS.

Analyst Ratings Changes

HST has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered shares of Host Hotels & Resorts from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $20.00 to $18.00 in a report on Friday, July 19th. Wells Fargo & Company decreased their price objective on shares of Host Hotels & Resorts from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Evercore ISI lowered their price objective on shares of Host Hotels & Resorts from $23.00 to $21.00 and set an “outperform” rating for the company in a research report on Tuesday, August 13th. Robert W. Baird cut their target price on Host Hotels & Resorts from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Finally, Compass Point upgraded Host Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.00 to $22.00 in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Host Hotels & Resorts has an average rating of “Moderate Buy” and an average target price of $21.29.

Host Hotels & Resorts Stock Up 1.9 %

Shares of HST traded up $0.34 during midday trading on Wednesday, hitting $17.99. The company had a trading volume of 18,384,271 shares, compared to its average volume of 5,250,203. The company’s 50-day simple moving average is $17.62 and its 200-day simple moving average is $17.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 4.55 and a current ratio of 4.55. Host Hotels & Resorts has a 1 year low of $15.71 and a 1 year high of $21.31. The firm has a market capitalization of $12.64 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.56 and a beta of 1.32.

Host Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend was Monday, September 30th. Host Hotels & Resorts’s dividend payout ratio is presently 74.77%.

Host Hotels & Resorts Company Profile

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.