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 EPS guidance of 1.920-1.920 for the period, compared to the consensus EPS 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.

Host Hotels & Resorts Stock Performance

NASDAQ:HST traded up $0.01 during trading on Friday, reaching $18.01. The company’s stock had a trading volume of 8,591,568 shares, compared to its average volume of 5,947,194. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 4.55 and a current ratio of 4.55. The firm has a 50 day moving average of $17.65 and a 200-day moving average of $17.76. Host Hotels & Resorts has a 12 month low of $15.71 and a 12 month high of $21.31.

Host Hotels & Resorts Dividend Announcement

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

Wall Street Analyst Weigh In

HST has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut 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. Oppenheimer dropped their target price on Host Hotels & Resorts from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Compass Point upgraded Host Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their target price for the company from $18.00 to $22.00 in a research report on Thursday, October 17th. Wells Fargo & Company dropped their target price 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. Finally, Evercore ISI decreased their price objective on shares of Host Hotels & Resorts from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Host Hotels & Resorts currently has an average rating of “Moderate Buy” and an average price target of $21.29.

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.