Host Hotels & Resorts (NASDAQ:HST) Updates 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.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HST shares. Compass Point raised Host Hotels & Resorts from a “neutral” rating to a “buy” rating and increased their price target for the stock from $18.00 to $22.00 in a research note on Thursday, October 17th. StockNews.com lowered shares of Host Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday. Evercore ISI cut their price target on shares of Host Hotels & Resorts from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. downgraded Host Hotels & Resorts from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $20.00 to $18.00 in a research report on Friday, July 19th. Finally, Wells Fargo & Company lowered their price target on Host Hotels & Resorts from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.29.

Host Hotels & Resorts Price Performance

Shares of HST traded up $0.01 during midday trading on Friday, hitting $18.01. 8,591,568 shares of the company traded hands, compared to its average volume of 5,947,194. The stock has a 50-day moving average of $17.65 and a 200-day moving average of $17.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.55 and a quick ratio of 4.55. The firm has a market cap of $12.65 billion, a P/E ratio of 17.49, a PEG ratio of 1.61 and a beta of 1.32. Host Hotels & Resorts has a one year low of $15.71 and a one year high of $21.31.

Host Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 4.44%. Host Hotels & Resorts’s dividend payout ratio is presently 77.67%.

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.