In a report released today, Bryan Maher from B.Riley FBR upgraded Xenia Hotels & Resorts (NYSE: XHR) to Hold, with a price target of $26. The company’s shares opened today at $23.91.
Maher said:
“Xenia Hotels & Resorts’ (XHR) solid 2Q18 results benefited from an 8.5% increase in total portfolio RevPAR, driven by capital recycling upgrades over the past couple years, as well as $2.6M in business interruption insurance received in the quarter. Adjusted EBITDAre came in at $89.8M, above our estimate of $85.3M and consensus $85.8M, while AFFO/share came in at $0.66 versus our estimate of $0.65 and consensus $0.65. Same-property 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, strengthening its balance sheet through the issuance of ~5.1M shares of stock through its ATM program for proceeds of $122.2M, while also paying off ~$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 4.1% and a 63.7% 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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Xenia Hotels & Resorts’ market cap is currently $2.68B and has a P/E ratio of 24.46. The company has a Price to Book ratio of 1.52.
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Xenia Hotels & Resorts, Inc. is a real estate investment trust company, which engages in the investment in premium services, lifestyle, and urban upscale hotels. It also owns a diversified portfolio of lodging properties operated by Marriott, Kimpton, Hyatt, Aston, Fairmong, and Loews. The company was founded in 2007 and is headquartered in Orlando, FL.
