Xenia Hotels & Resorts (NYSE: XHR) reduces ownership to Zacks Investment Research
Xenia Hotels & Resorts (NYSE: XHR) was downgraded by Zacks Investment Research from a “buy” rating to a “keep” rating in a research note released Saturday, Zacks.com reports.
According to Zacks, “Xenia Hotels & Resorts, Inc. is a self-advised, self-managed REIT. The company invests primarily in high-end full-service, lifestyle, urban high-end hotels, accommodation markets as well as leisure destinations primarily in the United States. Xenia Hotels & Resorts, Inc. is based in Orlando, Florida. “
XHR has been the subject of several other research reports. BMO Capital Markets upgraded Xenia Hotels & Resorts from a “market performance” rating to an “outperformance” rating and raised its share price target from $ 22.00 to $ 23.00 in a research report published on Tuesday, May 25. B. Riley increased its target price on Xenia Hotels & Resorts from $ 18.00 to $ 20.00 and gave the company a “neutral” rating in a research note on Tuesday, June 15. One analyst assigned a sell rating to the stock, two assigned a conservation rating and four assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $ 18.86.
NYSE: XHR shares opened at $ 17.78 on Friday. The stock has a market cap of $ 2.02 billion, a PE ratio of -10.98 and a beta of 1.67. The company has a leverage ratio of 0.91, a rapid ratio of 6.55, and a current ratio of 6.55. Xenia Hotels & Resorts has a 12-month minimum of $ 7.56 and a 12-month maximum of $ 21.40. The company’s 50-day moving average is $ 19.13.
Xenia Hotels & Resorts (NYSE: XHR) last reported its results on Thursday, May 6. The REIT reported ($ 0.50) earnings per share (EPS) for the quarter, missing ($ 0.27) Thomson Reuters consensus estimate of ($ 0.23). The company posted revenue of $ 87.90 million for the quarter, compared to analysts’ expectations of $ 80.35 million. Xenia Hotels & Resorts posted a negative net margin of 75.76% and a negative return on equity of 11.84%. The company’s quarterly revenue was down 59.2% year-on-year. During the same period of the previous year, the company earned $ 0.17 per share. As a group, analysts predict that Xenia Hotels & Resorts will post earnings per share of -0.06 for the current year.
In other news from Xenia Hotels & Resorts, insider Taylor C. Kessel sold 11,073 shares of the company in a transaction dated Thursday, May 27. The stock was sold for an average price of $ 19.63, for a total value of $ 217,362.99. As a result of the transaction, the insider now directly owns 62,311 shares of the company, valued at approximately $ 1,223,164.93. The sale was disclosed in a file with the Securities & Exchange Commission, which is available through this link. In addition, insider Marcel Verbaas sold 33,686 shares of the company in a transaction dated Monday, May 17. The stock was sold for an average price of $ 19.07, for a total value of $ 642,392.02. Following the completion of the transaction, the insider now owns 448,491 shares of the company, valued at $ 8,552,723.37. Disclosure of this sale can be found here. During the last quarter, insiders sold 70,379 shares of the company valued at $ 1,559,030. 1.90% of the shares are currently owned by company insiders.
A number of hedge funds and other institutional investors have recently changed their positions in XHR. Amundi Pioneer Asset Management Inc. increased its stake in Xenia Hotels & Resorts shares by 7.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 287,625 real estate investment trust shares worth $ 6,302,000 after purchasing an additional 19,418 shares during the last quarter. Rhumbline Advisers strengthened its positions in Xenia Hotels & Resorts by 11.0% in the 4th quarter. Rhumbline Advisers now owns 416,749 real estate investment trust shares valued at $ 6,335,000 after acquiring an additional 41,199 shares during the period. Teacher Retirement System of Texas purchased a new stake in Xenia Hotels & Resorts during the 4th quarter for a value of approximately $ 158,000. Mercer Global Advisors Inc. ADV purchased a new stake in Xenia Hotels & Resorts during the 4th quarter for a value of approximately $ 185,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Xenia Hotels & Resorts during the 4th quarter for a value of approximately $ 2,674,000. Institutional investors and hedge funds hold 83.66% of the company’s shares.
Xenia Hotels & Resorts Company Profile
Xenia Hotels & Resorts, Inc is a self-advised, self-administered REIT that invests in uniquely positioned luxury and upscale hotels and resorts, focusing on the top 25 accommodation markets in the United States as well as than the major leisure destinations in the United States. The Company owns 37 hotels with 10,749 rooms in 16 states.
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