B.Riley FBR analyst Bryan Maher maintained a Hold rating on Xenia Hotels & Resorts (XHR) today and set a price target of $24. The company’s shares closed on Friday at $21.10.
Maher wrote:
“We are increasing our estimates on Xenia Hotels & Resorts (XHR) slightly for 2019-2021 as the REIT, and its operators, have been doing a superb job of controlling costs in the face of low single-digit RevPAR growth. Xenia’s 2Q19 results were generally in line to slightly above estimates, although AFFO/share missed our estimate. Adjusted EBITDAre came in at $89.5M, just above our $89.4M estimate and handily above the consensus estimate of $87.5M. AFFO/ share was $0.63, in line with the consensus estimate, but below our $0.65 estimate. Same- property RevPAR improved 1.3% Y/Y (industry wide RevPAR improved 1.1% in 2Q19), driven by ADR growth of 0.5% and a 63-bps increase in occupancy. The key reason for the miss to our AFFO/share estimate was higher than expected income tax expense.”
According to TipRanks.com, Maher is a 4-star analyst with an average return of 8.3% and a 52.6% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Senior Housing Properties Trust, and Office Properties Income Trust.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Xenia Hotels & Resorts with a $24 average price target.
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Xenia Hotels & Resorts’ market cap is currently $2.38B and has a P/E ratio of 17.24. The company has a Price to Book ratio of 1.34.
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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.
