On Wednesday, Host Hotels and Resorts, Inc. (NYSE:HST) released its fourth quarter and full-year earnings report.
After the release, the stock opened Thursday’s session at $14.97.
The company’s hotel Revenue per Available Room (RevPAR) jumped 3.60% year-over-year on a constant dollar basis. The growth is mainly driven by the 1.70% rise in average room rates and the 140 basis-point surge in occupancy to 74%.
Host Hotels and Resorts ended the quarter with $239 million worth of cash and cash equivalents, well below the previous year’s $684 million.
EPS and Revenue
The company reported an earnings per share (EPS) of $0.39, topping analysts’ projections of $0.35. For the period, Host Hotels and Resorts had a total revenue of $1.33, meeting analysts’ forecasts of $1.33 million. During the same quarter last year, it reported an EPS of $0.40. The company’s revenue is up by 1.10% year-over-year. Host Hotels and Resorts gave a guidance of $1.65 to $1.69 EPS for the current fiscal year. Analysts, on the other hand, expect the company to post an EPS of $1.50 for the fiscal year 2016.
According to W. Edward Walter, Host Hotels and Resorts CEO, the company had a solid quarter. In addition, the company took several initiatives for the year, investing on “value-enhancing opportunities”.
Host Hotels and Resorts invested about $100 million for acquisitions, redevelopments, and ROI. Moreover, nearly $91 million was spent to cover replacement and/or renewal expenses.
Currently, Host Hotels and Resorts has a market capitalization of $11.25 billion and a price to earnings (P/E) ratio of 17.37. The stock holds a 12-month high of $22.64 and a 12-month low of $12.17. The company has a 50-day moving average price of $14.09 and a 200-day moving average price of $16.38.
Recently, Host Hotels and Resorts disclosed a quarterly dividend, which will be paid on April 15. Shareholders of record on March 31 will receive a dividend of $0.20 a share. This shows an annualized dividend of $0.80 and a dividend yield of 5.34%.
Several brokerage research firms evaluated the company’s stock performance. Consequently, Host Hotels and Resorts has an average rating of “Hold” and a consensus target price of $19.43.