Lazard Asset Management LLC Acquires 866,530 Shares of Host Hotels & Resorts, Inc. (NASDAQ:HST)

Lazard Asset Management LLC grew its holdings in Host Hotels & Resorts, Inc. (NASDAQ:HST) by 111.7% in the 1st quarter, HoldingsChannel reports. The firm owned 1,642,387 shares of the company’s stock after buying an additional 866,530 shares during the quarter. Lazard Asset Management LLC’s holdings in Host Hotels & Resorts were worth $33,963,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Miller Howard Investments Inc. NY bought a new position in shares of Host Hotels & Resorts during the 4th quarter worth approximately $38,873,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Host Hotels & Resorts during the 4th quarter worth approximately $1,214,000. Illinois Municipal Retirement Fund raised its stake in shares of Host Hotels & Resorts by 61.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 662,269 shares of the company’s stock worth $12,894,000 after acquiring an additional 251,112 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Host Hotels & Resorts by 7.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,710,175 shares of the company’s stock worth $33,297,000 after acquiring an additional 120,555 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Host Hotels & Resorts by 4.7% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,888,031 shares of the company’s stock worth $39,037,000 after acquiring an additional 84,687 shares in the last quarter. Institutional investors own 98.52% of the company’s stock.

Host Hotels & Resorts Price Performance

Shares of NASDAQ HST traded up $0.26 during mid-day trading on Friday, reaching $17.45. The company’s stock had a trading volume of 6,411,758 shares, compared to its average volume of 5,777,219. The stock has a 50-day moving average of $17.98 and a two-hundred day moving average of $19.15. The stock has a market capitalization of $12.30 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.52 and a beta of 1.33. The company has a debt-to-equity ratio of 0.67, a quick ratio of 6.66 and a current ratio of 6.66. Host Hotels & Resorts, Inc. has a 1-year low of $14.92 and a 1-year high of $21.31.

Host Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Friday, June 28th. Host Hotels & Resorts’s dividend payout ratio (DPR) is 78.43%.

Insider Activity at Host Hotels & Resorts

In related news, Director Walter C. Rakowich sold 3,896 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $18.64, for a total value of $72,621.44. Following the completion of the sale, the director now owns 64,457 shares of the company’s stock, valued at $1,201,478.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Wedbush reissued an “outperform” rating and set a $22.00 target price on shares of Host Hotels & Resorts in a research report on Thursday, May 30th. Barclays dropped their target price on shares of Host Hotels & Resorts from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Truist Financial dropped their target price on shares of Host Hotels & Resorts from $24.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. JPMorgan Chase & Co. downgraded shares of Host Hotels & Resorts from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $20.00 to $18.00 in a research report on Friday, July 19th. Finally, UBS Group dropped their price objective on shares of Host Hotels & Resorts from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten 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 target price of $21.57.

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.