Tag: host hotels

Host Hotels & Resorts, Inc. (NASDAQ:HST) Shares Sold by Truist Financial Corp


Truist Financial Corp trimmed its stake in shares of Host Hotels & Resorts, Inc. (NASDAQ:HSTGet Rating) by 17.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,792 shares of the company’s stock after selling 6,239 shares during the period. Truist Financial Corp’s holdings in Host Hotels & Resorts were worth $578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HST. Desjardins Global Asset Management Inc. acquired a new stake in shares of Host Hotels & Resorts during the 4th quarter valued at approximately $40,000. Riverview Trust Co raised its position in shares of Host Hotels & Resorts by 83.6% during the 1st quarter. Riverview Trust Co now owns 2,389 shares of the company’s stock worth $46,000 after purchasing an additional 1,088 shares during the last quarter. CWM LLC acquired a new position in shares of Host Hotels & Resorts during the 4th quarter worth approximately $48,000. UMB Bank N A MO acquired a new position in shares of Host Hotels & Resorts during the 4th quarter worth approximately $50,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Host Hotels & Resorts by 80.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,030 shares of the company’s stock worth $52,000 after purchasing an additional 1,350 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HST. Deutsche Bank Aktiengesellschaft lifted their price objective on Host Hotels & Resorts from $23.00 to $26.00 in a research report on Friday, May 6th. Jefferies Financial Group upgraded Host Hotels & Resorts from a “hold” rating to

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Host Hotels & Resorts: Rebound In Upside, Risks Remain (HST)

Modern Hotel Room With Double Bed, Night Tables, Tv Set And Cityscape From The Window

onurdongel

Investment Thesis: While Host Hotels & Resorts could see some upside if RevPAR levels improve, high debt and a decline in cash levels remain risk factors.

In a previous article back in April, I made the argument that Host Hotels & Resorts (NASDAQ:HST) could be set to benefit from rising real estate prices as a result of inflation. However, I also cautioned that the company would also need to ensure that it maintains sufficient cash reserves to continue funding its expansion.

Since April, the stock has seen a significant decline – in line with that of the broader market.

investing.com

investing.com

The purpose of this article is to determine whether Host Hotels & Resorts can potentially see a rebound in upside going forward.

Performance

From a revenue standpoint, we can see that while Host Hotels & Resorts has yet to see a rebound to 2019 levels – revenue growth is still far above what it was in the quarter of March 2021.

Host Hotels & Resorts: First Quarter 2022 Operating Results

Host Hotels & Resorts: First Quarter 2022 Operating Results

However, I previously cautioned that the company also needs to control its cash to total debt levels – as this will be necessary to fund the purchases of new properties before prices rise further.

From the below, we can see that the portion of cash relative to total debt has decreased significantly since the last quarter – meaning that the company has less immediate cash available to meet its liabilities.

December 2021 March 2022
Cash and cash equivalents 807 266
Total debt 4891 4210
Cash to total debt (%) 16.49% 6.32%

Source: Figures sourced from Host Hotels & Resorts First Quarter 2022 Operating Results. Cash to total debt calculated by author.

In this regard, while the company has seen diluted earnings per share rebound to positive territory

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