whytestocks
4 years ago
NEWS: $HST Host Hotels & Resorts Publishes New, Expanded Corporate Responsibility Report
BETHESDA, Md., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Host Hotels & Resorts, Inc. (NASDAQ: HST), the nation’s largest lodging real estate investment trust (the “Company”), released its 2020 Corporate Responsibility (CR) Report, an expanded and interactive report tha...
Find out more HST - Host Hotels & Resorts Publishes New, Expanded Corporate Responsibility Report
LasNubes
11 years ago
Host Hotels's 2nd-Quarter Net Up 45% as FFO Climbs
1 hours 27 minutes ago - DJNF
By Saabira Chaudhuri
Host Hotels & Resorts Inc.'s (HST) second-quarter profit jumped 45% as the real-estate investment trust reported stronger revenue, while funds from operations--an important profitability metric--rose to top analyst estimates.
Adjusted to make 2012 results comparable with those reported in 2013, Host said its net income rose 92%.
For 2013, Host narrowed its per-share earnings view, now expecting 34 cents to 38 cents versus its prior boosted view of 31 cents to 39 cents.
The company, whose portfolio leans toward higher-priced hotels, has posted higher revenue in recent quarters as demand for lodging remains robust. However Host has also grappled with rising expenses, in the latest period posting a 5.5% rise in operating costs and expenses.
For the quarter ended June 30, Host reported a profit of $119 million, or 16 cents a share, compared with a year-earlier profit of $82 million, or 11 cents a share.
Revenue rose 7.1% to $1.42 billion.
Analysts polled by Thomson Reuters expected a profit of 16 cents a share on $1.44 billion in revenue.
Funds from operations was 39 cents from 31 cents a year earlier. On an adjusted basis, FFO was 45 cents compared with 33 cents. Analysts expected 42 cents.
Comparable hotel revenue per available room jumped 6.1% from a year earlier, as the average-room rate increased 6.5% to $204.39 when adjusted to make periods comparable. Average occupancy rates grew to 79.4% from 77.7% a year ago.
Last month, Host sold the Ritz-Carlton in San Francisco to investors led by Thayer Lodging Group for $161 million, with the lodging real-estate investment trust earmarking the proceeds for any future acquisitions and for other purposes.
Shares closed Thursday at $18.16 and were inactive in recent premarket trading. The stock has edged down 1.4% in the past three months.
Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com
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(END) Dow Jones Newswires
August 02, 2013 06:33 ET (10:33 GMT)
Copyright (c) 2013 Dow Jones & Company, Inc.
Penny Roger$
13 years ago
Host Hotels & Resorts, Inc. (Host Inc.) operates as a self-managed and self-administered real estate investment trust (REIT). Host Inc. owns properties and conducts operations through Host Hotels & Resorts, L.P. (Host L.P.), of which Host Inc. is the sole general partner and in which it holds approximately 98.4% of the partnership interests (OP units). The remaining approximate 1.6% partnership interests are owned by various unaffiliated limited partners. As the sole general partner of Host L.P., Host Inc. has the exclusive and complete responsibility for Host L.P.’s day-to-day management and control. As of February 18, 2011, it had 120 hotels in its portfolio, consisting of luxury and upper upscale hotels containing approximately 63,000 rooms. As of February 18, 2011, it also owned a 25% interest in an Asian joint venture that is in the process of acquiring a 36% interest in a joint venture that is developing seven properties totaling approximately 1,750 rooms in India.
http://www.google.com/finance?q=HST