On June 12, 2023, it was reported that CIBC Asset Management Inc had increased its position in Host Hotels & Resorts, Inc by 6.4% during the fourth quarter. According to the company’s Form 13F filing with the Securities and Exchange Commission, the institutional investor now holds 102,590 shares of Host Hotels & Resorts’ stock worth $1,647,000 as of its most recent SEC filing.
Host Hotels & Resorts is a real estate investment trust specializing in luxury and upper-upscale hotels. With operations in the United States, Brazil, and Canada, this company has been providing quality hotel services to guests for decades. Its headquarters are located in Bethesda, MD where it was founded in 1927.
In another news story related to Host Hotels & Resorts on June 5th, Director Walter C. Rakowich sold 3,688 shares of the company’s stock at an average price of $17.47 per share, resulting in a total transaction value of $64,429.36. Following the sale completion, Mr. Rakowich now directly owns 58,616 shares of Host Hotels & Resorts’ stock with a value estimated at $1,024,021.52.
These transactions suggest that there is still confidence in Host Hotels & Resorts from investors despite challenging economic conditions and pandemic-driven travel restrictions over recent years. With insider ownership accounting for only a small percentage (1.14%) of the company’s shares outstanding as well as strong institutional backing through companies like CIBC Asset Management Inc., this stock may be one to watch for potential investors looking to diversify their portfolios with exposure to high-quality hotel investments.
In conclusion, while uncertainties still exist within the hotel industry due to global events beyond any single company’s control such as pandemics or geopolitical shifts; Host Hotels & Resorts appears positioned well both fundamentally and according to investors’ interest levels who continue buying its shares cautiously on the market.
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Institutional Investors Adjust Positions in Host Hotels & Resorts, Inc.
Host Hotels & Resorts: A Look at the Company’s Recent Institutional Investor Changes
Institutional investors have been making notable changes to their positions in Host Hotels & Resorts, Inc., a publicly traded American company that specialises in owning and operating upscale lodging establishments. According to recent reports, Bessemer Group, Nomura Asset Management, Lido Advisors, Veritable L.P. and ING Groep NV are among the latest institutions to adjust their holdings in the popular hospitality enterprise.
Bessemer Group recently lifted its position in Host Hotels & Resorts shares by 20.1% during Q3 2023. The investment services firm now owns 5,117 shares of the stock worth $81,000 after purchasing an additional 856 shares in the last quarter. Nomura Asset Management also increased its stake in the same period by 6.3%, while Lido Advisors grew its position by 2.7%. Veritable L.P., meanwhile, bought a new position worth about $185k.
ING Groep NV grew its position in shares of Host Hotels & Resorts by a staggering 256.9% during Q4 2023 alone; it now holds approximately 399,872 shares valued at $6,418m.
Reports suggest that increased institutional investor interest has contributed to a resurgence of positive commentary around HST shares from some equity analysts. Morgan Stanley recently upped its target price on HST stocks from $18 to $19 per share after observing upward momentum for HST over several weeks.
However, not all reviews have been so glowing: Raymond James lowered their price target on shares of Host Hotels & Resorts from $21 to $19 and set an “outperform” rating for the company earlier this year based on different factors entirely; but it seems more analysts have drawn positive conclusions so far.
All of this spells good news for Host Hotels & Resorts, which currently sits with an average rating of “Moderate Buy” and a consensus target price of $20.86.
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NASDAQ HST traded at $17.57 when these reports were released, with trading volume reaching 1,491,197 shares; the stock has seen a low of $14.51 and a high of $19.76 in the past year alone, with market capitalisation currently sitting at $12.50bn.
As always, however, investors should keep in mind that any advice given here is based on multiple factors which combine to generate volatility and long-term returns cannot be guaranteed or predicted.