Professional
Added to YB: 2024-06-14
Pitch date: 2024-06-06
HST [bullish]
Host Hotels & Resorts, Inc.
+24.59%
current return
Author Info
No bio for this author
Company Info
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.
Market Cap
$13.9B
Pitch Price
$16.11
Price Target
24.00 (+20%)
Dividend
4.69%
EV/EBITDA
11.22
P/E
18.42
EV/Sales
3.10
Sector
Hotel and Resort REITs
Category
turnaround
Host Hotels & Resorts, Inc.: Despite Flat Occupancy Growth Over Past Two Years, Hotel REITs Should See Better Years Ahead
HST: Despite flat occupancy over 2yrs, hotel REITs to see better years ahead. Stagnant leisure travel offset by recovering biz & group. HST portfolio renovations finishing, boosting revPAR growth to 4% vs industry 3%. No moat on low pricing power but bullish on economic recovery, bearish on supply growth & Airbnb. Slightly lower $24 FVE on 8.5% cap rate. Standard capital allocation: 2.3x debt/EBITDA, fair investments, 50% dividend payout. Lags peers but new mgmt executing well.
Read full article (11 min)