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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HST shares. Oppenheimer cut their target price on Host Hotels & Resorts from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. Truist Financial lowered their price target on shares of Host Hotels & Resorts from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Robert W. Baird decreased their price target on Host Hotels & Resorts from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Monday, August 5th. Stifel Nicolaus dropped their price objective on Host Hotels & Resorts from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Finally, Compass Point raised Host Hotels & Resorts from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $22.00 in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.29.

Host Hotels & Resorts Price Performance

Shares of NASDAQ:HST traded up $0.01 during midday trading on Friday, hitting $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 business’s 50 day simple moving average is $17.65 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. The company has a market cap of $12.65 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.32. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.20 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 4.44%. Host Hotels & Resorts’s dividend payout ratio is currently 77.67%.

About Host Hotels & Resorts

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.