FBR Capital Maintains a 'Market Perform' on Host Hotels (HST); Adjusting Numbers Following Q1
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Price: $22.67 -1%
Rating Summary:
17 Buy, 18 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
17 Buy, 18 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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FBR Capital maintains a 'Market Perform' on Host Hotels (NYSE: HST), new PT $18.
FBR analyst says, "Following 1Q results, we are lowering our price target from $19 to $18, which is based on 14.5x our 2012 estimated EBITDA to account for expectations of slightly higher net debt next year. We are, however, raising our 2011 AFFO estimate to $0.96 from $0.94 and adjusted EBITDA estimate to $1,075M from $1,063M to reflect accretion from recent acquisitions. And, while we are increasing our 2012 adjusted EBITDA estimate to $1,381M from $1,369M previously, our 2012E AFFO/share estimate goes down slightly to $1.35 from $1.37 to reflect slightly higher interest expense on higher debt balance. While 1Q11 RevPAR results were somewhat uninspiring, we believe results get progressively better from here for Host, notably in 2H11."
For more ratings news on Host Hotels click here and for the rating history of Host Hotels click here.
Shares of Host Hotels closed at $17.91 yesterday.
FBR analyst says, "Following 1Q results, we are lowering our price target from $19 to $18, which is based on 14.5x our 2012 estimated EBITDA to account for expectations of slightly higher net debt next year. We are, however, raising our 2011 AFFO estimate to $0.96 from $0.94 and adjusted EBITDA estimate to $1,075M from $1,063M to reflect accretion from recent acquisitions. And, while we are increasing our 2012 adjusted EBITDA estimate to $1,381M from $1,369M previously, our 2012E AFFO/share estimate goes down slightly to $1.35 from $1.37 to reflect slightly higher interest expense on higher debt balance. While 1Q11 RevPAR results were somewhat uninspiring, we believe results get progressively better from here for Host, notably in 2H11."
For more ratings news on Host Hotels click here and for the rating history of Host Hotels click here.
Shares of Host Hotels closed at $17.91 yesterday.
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