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Host Hotels & Resorts Inc HST

Morningstar Rating
$20.00 −0.35 (1.72%)
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Company Report

The Hotel Industry's Continued Recovery Should Drive Growth for Host Hotels Portfolio

Host Hotels & Resorts, the largest lodging real estate investment trust in the United States, has entered an unprecedented mature stage of its growth cycle. Hotels have one of the highest betas among all REITs and trade up or down on any indication that the U.S. economy is picking up or slowing down, respectively. People need to travel for business when the economy is expanding and want to travel when jobs and income are steady, but travel is one of the first things cut as confidence in the economy falls. Since hotel lease terms are for a single night, occupancy and rates get reset each day and quickly reflect changes in the economy. Prior economic cycles have seen two to three years of falling revenue per available room during a recession followed by five to six years of high-single- to low-double-digit revPAR growth. Typically, as growth slows, the economy enters a new recession and the pattern repeats.

Price vs Fair Value

HST is trading at a 20% discount.
Price
$20.00
Fair Value
$79.00
Uncertainty
High
1-Star Price
$91.68
5-Star Price
$92.00
Economic Moat
Xzhc
Capital Allocation
Wdwjrfht

Bulls Say, Bears Say

Bulls

An economic recovery should provide strong revenue and EBITDA growth for Host’s portfolio.

Bears

Significant new supply throughout several of Host’s core markets and a rising interest-rate environment will pressure the firm’s performance and valuation.

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News

Trading Information

Previous Close Price
$20.35
Day Range
$19.9020.33
52-Week Range
$14.9221.31
Bid/Ask
$19.85 / $20.87
Market Cap
$14.07 Bil
Volume/Avg
1 / 6.0 Mil

Key Statistics

Price/Earnings (Normalized)
21.22
Price/Sales
2.78
Dividend Yield (Trailing)
3.52%
Dividend Yield (Forward)
3.86%
Total Yield
4.90%

Company Profile

Host Hotels & Resorts owns 77 predominantly urban and resort upper-upscale and luxury hotel properties representing nearly 42,000 rooms, mainly in the United States. Host recently sold off the company's interests in a joint venture owning a portfolio of hotels throughout Europe and also sold other joint ventures that owned properties in Asia and the United States. The majority of Host’s portfolio operates under the Marriott and Starwood brands.
Sector
Real Estate
Industry
REIT - Hotel & Motel
Stock Style Box
Mid Core
Total Number of Employees
163

Competitors

Valuation

Metric
HST
PEB
PK
Price/Earnings (Normalized)
21.2265.33
Price/Book Value
2.200.670.97
Price/Sales
2.781.321.40
Price/Cash Flow
9.507.699.50
Price/Earnings
HST
PEB
PK

Financial Strength

Metric
HST
PEB
PK
Quick Ratio
0.920.292.15
Current Ratio
1.070.302.28
Interest Coverage
4.810.321.42
Quick Ratio
HST
PEB
PK

Profitability

Metric
HST
PEB
PK
Return on Assets (Normalized)
5.85%0.64%2.60%
Return on Equity (Normalized)
10.55%1.34%6.02%
Return on Invested Capital (Normalized)
7.02%2.18%4.58%
Return on Assets
HST
PEB
PK
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REIT - Hotel & Motel Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
RHP
Ryman Hospitality Properties IncDpgdj$6.7 Bil
APLE
Apple Hospitality REIT IncWtv$3.8 Bil
PK
Park Hotels & Resorts IncMpzycgdsrPpwx$3.7 Bil
NIPOF
Japan Hotel REIT Investment CorpHxjrnwn$2.4 Bil
SHO
Sunstone Hotel Investors IncWchn$2.3 Bil
DRH
Diamondrock Hospitality CoKwsrfwgqJyb$2.0 Bil
PEB
Pebblebrook Hotel TrustVxzypmckvdFkrh$1.8 Bil
RLJ
RLJ Lodging Trust Registered Shs of Benef InterestLnbj$1.8 Bil
XHR
Xenia Hotels & Resorts IncBnpt$1.6 Bil

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