Summit Financial LLC Makes New Investment in Host Hotels & Resorts, Inc. (NASDAQ:HST)

Summit Financial LLC purchased a new stake in Host Hotels & Resorts, Inc. (NASDAQ:HST) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 11,685 shares of the company’s stock, valued at approximately $212,000.

A number of other large investors have also recently modified their holdings of HST. Nilsine Partners LLC boosted its stake in shares of Host Hotels & Resorts by 6.1% during the 2nd quarter. Nilsine Partners LLC now owns 48,241 shares of the company’s stock worth $867,000 after acquiring an additional 2,776 shares during the last quarter. Van ECK Associates Corp grew its holdings in Host Hotels & Resorts by 20.0% during the 2nd quarter. Van ECK Associates Corp now owns 121,369 shares of the company’s stock valued at $2,182,000 after buying an additional 20,255 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Host Hotels & Resorts in the second quarter worth $291,000. Commonwealth Equity Services LLC raised its position in shares of Host Hotels & Resorts by 17.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 166,694 shares of the company’s stock valued at $2,997,000 after buying an additional 25,352 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Host Hotels & Resorts by 3.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 196,427 shares of the company’s stock valued at $3,532,000 after purchasing an additional 6,828 shares during the last quarter. Institutional investors own 98.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HST. Barclays cut their price objective on Host Hotels & Resorts from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Wedbush reaffirmed an “outperform” rating and set a $22.00 target price on shares of Host Hotels & Resorts in a research report on Thursday, May 30th. JPMorgan Chase & Co. lowered Host Hotels & Resorts from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $20.00 to $18.00 in a research report on Friday, July 19th. Truist Financial cut 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. Finally, Compass Point lowered shares of Host Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $18.00 in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.31.

Host Hotels & Resorts Price Performance

HST opened at $16.93 on Thursday. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 0.64. The firm has a market cap of $11.89 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.58 and a beta of 1.33. The stock’s 50-day moving average price is $17.29 and its 200 day moving average price is $18.61. Host Hotels & Resorts, Inc. has a 12-month low of $14.92 and a 12-month high of $21.31.

Host Hotels & Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Friday, June 28th. Host Hotels & Resorts’s dividend payout ratio (DPR) is 78.43%.

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.