Wellington Management Co. LLP recently announced the acquisition of new stake in Host Hotels & Resorts Inc (NASDAQ:HST). The institutional investor has increased its shareholding in the Real Estate company by 15.43% to 50.28 million shares with purchase of 6.72 million shares. This fresh investment now brings its stake to 7.13% valued currently at $878.31 million. In addition, BlackRock Fund Advisors raised its holdings by 1.15 million to 48.99 million shares. And Norges Bank Investment Management has lifted its position by 2.73% or 0.68 million shares – to 25.56 million shares.
With over 7.48 million Host Hotels & Resorts Inc (HST) shares trading Tuesday and a closing price of $20.11 on the day, the dollar volume was approximately $150.38 million. The shares have shown a positive half year performance of 20.93% and its price on 12/26/23 gained nearly 1.72%. Currently, there are 713.40M common shares owned by the public and among those 697.51M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 23 analysts who have offered their price forecasts for HST have a consensus price objective of $20.35. The analysts have set the share’s price value over the next 12 months at a high of $24.00 and a low of $15.00. The average price target is 1.18% above its recent price level and a downside to the estimated low will see the stock lose -34.07% over that period. But an upside of 16.21% will see the stock hit the forecast high price target while median target price for the stock is $21.00.
Insiders at the company have transacted a total of 34 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 772,051 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 158,565 shares.
The top 3 mutual fund holders in Host Hotels & Resorts Inc are Vanguard Real Estate Index Fund, Government Pension Fund – Global, and Vanguard Total Stock Market ETF. Vanguard Real Estate Index Fund owns 29.31 million shares of the company’s stock, all valued at over $512.09 million. The company sold -0.22 million shares recently to bring their total holdings to about 4.16% of the shares outstanding. Government Pension Fund – Global bought 1.27 million shares to see its total holdings expand to 25.39 million shares valued at over $443.54 million and representing 3.60% of the shares outstanding. Vanguard Total Stock Market ETF bought 25517.0 shares to bring its total holdings to over 22.31 million shares at a value of $389.75 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.16% of the shares outstanding.
Shares of Host Hotels & Resorts Inc (NASDAQ: HST) opened at $19.71, down -$0.06 from a prior closing price of $19.77. The company’s stock has a 5-day price change of 4.47% and 26.96% over the past three months. HST shares are trading 25.30% year to date (YTD), with the 12-month market performance up to 26.90% higher. It has a 12-month low price of $14.51 and touched a high of $20.03 over the same period. HST has an average intraday trading volume of 6.80 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.28%, 17.28%, and 20.45% respectively.
Institutional ownership of Host Hotels & Resorts Inc (NASDAQ: HST) shares accounts for 103.09% of the company’s 713.40M shares outstanding. Mutual fund holders own 39.81%, while other institutional holders and individual stakeholders account for 64.31% and 1.94% respectively.
It has a market capitalization of $14.19B and a beta (3y monthly) value of 1.32. The stock’s trailing 12-month PE ratio is 19.03, while the earnings-per-share (ttm) stands at $1.06. The company has a PEG of 0.67 and the debt-to-equity ratio at 0.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.81% over the week and 2.16% over the month.
Analysts forecast that Host Hotels & Resorts Inc (HST) will achieve an EPS of $0.19 for the current quarter, $0.28 for the next quarter and $0.92 for 2024. The lowest estimate earnings-per-share for the quarter is $0.16 while analysts give the company a high EPS estimate of $0.21. Comparatively, EPS for the current quarter was $0.2 a year ago. Earnings per share for the fiscal year are expected to increase by 17.67%, and -11.00% over the next financial year. EPS should grow at an annualized rate of 28.40% over the next five years, compared to 2.94% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 23 brokerage firm advisors rate Host Hotels & Resorts Inc (HST) as a “Strong Buy” at a consensus score of 1.87. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 5 of the 23 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the HST, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on December 14, 2023, with the firm’s price target at $15.
