Xenia Hotels & Resorts (NYSE:XHR) Posts Quarterly Earnings Results, Misses Estimates By $0.33 EPS

Xenia Hotels & Resorts (NYSE:XHR) released its quarterly earnings results on Wednesday. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.33), reports. Xenia Hotels & Resorts had a net margin of 2.37% and a return on equity of 1.85%. The company had revenue of $236.81 million during the quarter, compared to analyst estimates of $239.25 million. Xenia Hotels & Resorts updated its FY 2024 guidance to 1.540-1.620 EPS and its FY24 guidance to $1.54-1.62 EPS.

Xenia Hotels & Resorts Trading Down 2.9 %

Xenia Hotels & Resorts stock opened at $14.96 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.26 and a quick ratio of 2.26. The firm has a 50-day moving average of $14.50 and a 200-day moving average of $14.22. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 65.05 and a beta of 1.51. Xenia Hotels & Resorts has a one year low of $11.66 and a one year high of $15.84.

Xenia Hotels & Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.48 annualized dividend and a yield of 3.21%. Xenia Hotels & Resorts’s dividend payout ratio (DPR) is presently 208.70%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on XHR. Wells Fargo & Company raised shares of Xenia Hotels & Resorts from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $16.00 to $15.00 in a research note on Friday, September 13th. B. Riley cut their price target on Xenia Hotels & Resorts from $17.00 to $15.50 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Xenia Hotels & Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. acquired a new stake in shares of Xenia Hotels & Resorts in the 2nd quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. raised its position in Xenia Hotels & Resorts by 34.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,958 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 1,023 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Xenia Hotels & Resorts in the first quarter valued at $135,000. International Assets Investment Management LLC grew its position in shares of Xenia Hotels & Resorts by 2,559.7% in the 3rd quarter. International Assets Investment Management LLC now owns 9,761 shares of the real estate investment trust’s stock valued at $144,000 after acquiring an additional 9,394 shares during the period. Finally, Algert Global LLC acquired a new position in shares of Xenia Hotels & Resorts during the 2nd quarter worth about $147,000. Institutional investors and hedge funds own 92.43% of the company’s stock.

About Xenia Hotels & Resorts

Xenia Hotels & Resorts, Inc is a self-advised and self-administered REIT that invests in uniquely positioned luxury and upper upscale hotels and resorts with a focus on the top 25 lodging markets as well as key leisure destinations in the United States. The Company owns 32 hotels and resorts comprising 9,511 rooms across 14 states.