Xenia Hotels & Resorts (NYSE:XHR) Issues Earnings Results

Xenia Hotels & Resorts (NYSE:XHR) announced its quarterly earnings data on Wednesday. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.33), reports. The firm had revenue of $236.81 million during the quarter, compared to analysts’ expectations of $239.25 million. Xenia Hotels & Resorts had a net margin of 2.37% and a return on equity of 1.85%. Xenia Hotels & Resorts updated its FY 2024 guidance to 1.540-1.620 EPS and its FY24 guidance to $1.54-1.62 EPS.

Xenia Hotels & Resorts Price Performance

Shares of NYSE XHR opened at $15.09 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.26 and a quick ratio of 2.26. The stock has a fifty day moving average price of $14.52 and a 200 day moving average price of $14.23. Xenia Hotels & Resorts has a 1-year low of $11.67 and a 1-year high of $15.84. The company has a market cap of $1.54 billion, a PE ratio of 65.61 and a beta of 1.51.

Xenia Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, September 30th. Xenia Hotels & Resorts’s dividend payout ratio is presently 208.70%.

Institutional Investors Weigh In On Xenia Hotels & Resorts

Several hedge funds have recently modified their holdings of XHR. BNP Paribas Financial Markets lifted its holdings in shares of Xenia Hotels & Resorts by 36.0% during the first quarter. BNP Paribas Financial Markets now owns 54,815 shares of the real estate investment trust’s stock worth $823,000 after purchasing an additional 14,516 shares during the period. Daiwa Securities Group Inc. raised its position in Xenia Hotels & Resorts by 5.1% in the first quarter. Daiwa Securities Group Inc. now owns 34,200 shares of the real estate investment trust’s stock worth $513,000 after acquiring an additional 1,672 shares in the last quarter. Russell Investments Group Ltd. raised its position in Xenia Hotels & Resorts by 54.5% in the first quarter. Russell Investments Group Ltd. now owns 137,759 shares of the real estate investment trust’s stock worth $2,068,000 after acquiring an additional 48,576 shares in the last quarter. ProShare Advisors LLC raised its position in Xenia Hotels & Resorts by 5.7% in the first quarter. ProShare Advisors LLC now owns 21,284 shares of the real estate investment trust’s stock worth $319,000 after acquiring an additional 1,143 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Xenia Hotels & Resorts by 24.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 39,695 shares of the real estate investment trust’s stock worth $596,000 after acquiring an additional 7,870 shares in the last quarter. 92.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company upgraded Xenia Hotels & Resorts from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $16.00 to $15.00 in a report on Friday, September 13th. B. Riley reduced their price target on Xenia Hotels & Resorts from $17.00 to $15.50 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Xenia Hotels & Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Xenia Hotels & Resorts Company Profile

Xenia Hotels & Resorts, Inc is a self-advised and self-administered REIT that invests in uniquely positioned luxury and upper upscale hotels and resorts with a focus on the top 25 lodging markets as well as key leisure destinations in the United States. The Company owns 32 hotels and resorts comprising 9,511 rooms across 14 states.