Assetmark Inc. Increases Stake in Host Hotels & Resorts, Inc. (NASDAQ:HST)

Posted by Defense World Staff on Aug 9th, 2023

Assetmark Inc. raised its stake in shares of Host Hotels & Resorts, Inc. (NASDAQ:HST – Free Report) by 30.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 141,719 shares of the company’s stock after purchasing an additional 32,768 shares during the period. Assetmark Inc.’s holdings in Host Hotels & Resorts were worth $2,337,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Profund Advisors LLC grew its holdings in shares of Host Hotels & Resorts by 4.2% during the 4th quarter. Profund Advisors LLC now owns 14,407 shares of the company’s stock worth $231,000 after purchasing an additional 578 shares during the period. Cornercap Investment Counsel Inc. grew its stake in Host Hotels & Resorts by 0.7% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 89,345 shares of the company’s stock worth $1,434,000 after buying an additional 633 shares during the period. Allworth Financial LP increased its position in shares of Host Hotels & Resorts by 82.3% in the first quarter. Allworth Financial LP now owns 1,506 shares of the company’s stock worth $25,000 after acquiring an additional 680 shares in the last quarter. Advisor Partners II LLC lifted its holdings in shares of Host Hotels & Resorts by 2.9% during the 4th quarter. Advisor Partners II LLC now owns 26,267 shares of the company’s stock valued at $422,000 after acquiring an additional 749 shares in the last quarter. Finally, Copperwynd Financial LLC lifted its holdings in shares of Host Hotels & Resorts by 2.4% during the 1st quarter. Copperwynd Financial LLC now owns 33,423 shares of the company’s stock valued at $551,000 after acquiring an additional 784 shares in the last quarter. Hedge funds and other institutional investors own 97.92% of the company’s stock.

Insiders Place Their Bets

In other news, Director Walter C. Rakowich sold 3,688 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $17.47, for a total transaction of $64,429.36. Following the completion of the transaction, the director now owns 58,616 shares of the company’s stock, valued at $1,024,021.52. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.14% of the stock is owned by corporate insiders.

Host Hotels & Resorts Trading Down 0.2 %

Host Hotels & Resorts stock opened at $16.76 on Wednesday. Host Hotels & Resorts, Inc. has a 1 year low of $14.51 and a 1 year high of $19.76. The firm’s 50-day moving average is $17.29 and its 200-day moving average is $16.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.44 and a current ratio of 6.57. The company has a market cap of $11.93 billion, a P/E ratio of 15.96 and a beta of 1.28.

Host Hotels & Resorts (NASDAQ:HST – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.27). Host Hotels & Resorts had a return on equity of 11.08% and a net margin of 14.50%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company earned $0.58 EPS. Host Hotels & Resorts’s revenue was up .9% compared to the same quarter last year. On average, equities analysts expect that Host Hotels & Resorts, Inc. will post 1.85 earnings per share for the current year.

Host Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a dividend of $0.15 per share. This is an increase from Host Hotels & Resorts’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Thursday, June 29th. Host Hotels & Resorts’s dividend payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com lowered Host Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Sunday. Truist Financial raised their target price on Host Hotels & Resorts from $20.00 to $21.00 in a report on Thursday, June 1st. Stifel Nicolaus decreased their price target on Host Hotels & Resorts from $21.00 to $19.50 in a report on Thursday, May 4th. Compass Point raised shares of Host Hotels & Resorts from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Friday, May 5th. Finally, Morgan Stanley lowered shares of Host Hotels & Resorts from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $19.00 to $15.50 in a report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.44.

Get Our Latest Analysis on HST

About Host Hotels & Resorts

(Free Report)

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 41,900 rooms.