Analysts have been eager to weigh in on the Financial sector with new ratings on Xenia Hotels & Resorts (NYSE:XHR), Monmouth Real Estate ate (NYSE:MNR) and Hannon Armstrong (NYSE:HASI).
Xenia Hotels & Resorts (XHR)
In a report released yesterday, Bryan Maher from B.Riley FBR upgraded Xenia Hotels & Resorts to Hold, with a price target of $26. The company’s shares opened today at $24.81, close to its 52-week high of $25.90.
Maher wrote:
“Xenia Hotels & Resorts reported solid results for 2Q18, driven by an 8.5% increase in total portfolio RevPAR. Adjusted EBITDAre came in at $89.8M, above our estimate of $85.3M and the consensus estimate of $85.8M, while AFFO/share came in at $0.66 versus our estimate of $0.65 and the consensus estimate of $0.65. From a same-property perspective, RevPAR increased by 3.4%, driven by occupancy growth of 190 bps and ADR growth of 1.0%. The company was active from a financing perspective, issuing roughly 5.1M shares of stock through its ATM program for proceeds of approximately $122.2M, while also paying off approximately $200.0M in mortgage loans that were collateralized by five separate hotels.”
According to TipRanks.com, Maher is a 4-star analyst with an average return of 4.4% and a 63.3% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Government Properties Income Trust, and Senior Housing Properties Trust.
Currently, the analyst consensus on Xenia Hotels & Resorts is a Moderate Buy with an average price target of $26.50.
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Monmouth Real Estate ate (MNR)
In a report released today, Craig Kucera from B.Riley FBR maintained a Hold rating on Monmouth Real Estate ate, with a price target of $17.50. The company’s shares opened today at $16.84.
Kucera wrote:
“We are raising our price target and earnings estimates for Corporation (MNR) post an in-line 3Q18. MNR saw a surprising (~$174M) increase in its acquisition pipeline in the quarter, much of which is expected to close in the company’s fiscal 4Q18. We are raising our price target from $16.50 to $17.50, as our 2018E core FFO is increasing by $0.01 to $0.90 and our 2019E core FFO is increasing from $0.93 to $1.02. We are also increasing our NAV estimate from $15.52 to $17.30 (5.4% portfolio cap rate assumption to FY19E NOI vs. our prior 2018E NOI), which has increased due to a substantial pickup in cash flow from anticipated acquisitions as well as a $23M ($0.27) increase in MNR’s securities portfolio as equity REIT share prices rallied in calendar 2Q18.”
According to TipRanks.com, Kucera is a 4-star analyst with an average return of 6.0% and a 68.1% success rate. Kucera covers the Financial sector, focusing on stocks such as NexPoint Residential Trust Inc, National Retail Properties, and Gladstone Commercial Corp.
Currently, the analyst consensus on Monmouth Real Estate ate is a Moderate Buy with an average price target of $17.67.
Hannon Armstrong (HASI)
B.Riley FBR analyst Carter Driscoll maintained a Buy rating on Hannon Armstrong today and set a price target of $26. The company’s shares opened today at $19.61.
Driscoll commented:
“2Q beat; on track to meet annual guidance. Hannon Armstrong (HASI) reported core EPS of $0.39, which beat our forecast as well as the $0.33, respectively). Revenue of $35.8M grew 27% Y/Y as gains on sales from securitizations almost doubled Y/Y . In 3Q17, management opted to take advantage of the relatively low interest rates to term out ~94% of its debt (see our more in-depth note about fixing out debt from 11/2/17). As of the end of 2Q18, HASI’s fixed rate debt now stands at 89%. While we believe this was the correct move with rising rates, it erodes near term and makes holding assets in its portfolio less attractive. HASI is pursuing a strategy of securitizing more transactions, which clips EPS growth and adds some Q/Q earnings volatility.”
According to TipRanks.com, Driscoll has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.7% and a 35.6% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Canadian Solar Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Hannon Armstrong with a $24.50 average price target, implying a 24.9% upside from current levels. In a report released today, Oppenheimer also maintained a Buy rating on the stock with a $25 price target.
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