Montecito Bank & Trust Has $480,000 Stake in Host Hotels and Resorts Inc (HST)
Montecito Bank & Trust raised its stake in Host Hotels and Resorts Inc (NYSE:HST) by 37.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,779 shares of the real estate investment trust’s stock after purchasing an additional 6,246 shares during the quarter. Montecito Bank & Trust’s holdings in Host Hotels and Resorts were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. NuWave Investment Management LLC purchased a new stake in shares of Host Hotels and Resorts in the second quarter worth approximately $169,000. Newman Dignan & Sheerar Inc. purchased a new stake in shares of Host Hotels and Resorts in the second quarter worth approximately $202,000. Park Avenue Securities LLC purchased a new stake in shares of Host Hotels and Resorts in the second quarter worth approximately $214,000. Hexavest Inc. raised its stake in shares of Host Hotels and Resorts by 26.6% in the third quarter. Hexavest Inc. now owns 12,754 shares of the real estate investment trust’s stock worth $269,000 after purchasing an additional 2,677 shares during the last quarter. Finally, Lourd Capital LLC purchased a new stake in shares of Host Hotels and Resorts in the second quarter worth approximately $274,000. 99.44% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented on the company. Zacks Investment Research downgraded Host Hotels and Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Robert W. Baird increased their price objective on Host Hotels and Resorts from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $21.87.
Host Hotels and Resorts (NYSE:HST) last released its earnings results on Tuesday, August 7th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.23). The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.49 billion. Host Hotels and Resorts had a net margin of 12.05% and a return on equity of 9.27%. Analysts anticipate that Host Hotels and Resorts Inc will post 1.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Thursday, September 27th. Host Hotels and Resorts’s dividend payout ratio is presently 47.34%.
Host Hotels and 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 89 properties in the United States and six properties internationally totaling approximately 52,500 rooms.
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