Stock Monitor: Condor Hospitality Trust Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 04, 2018 / Active-Investors.com has just released a free earnings report on Host Hotels & Resorts, Inc. (NYSE: HST) ("Host Hotels"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=HST. The Company released its financial results on February 21, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company reported a y-o-y growth of 2.4% in its adjusted funds from operations (FFO) per share; beating market expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Condor Hospitality Trust, Inc. (NASDAQ: CDOR), which also belongs to the Financial sector as the Company Host Hotels & Resorts. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=CDOR
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Host Hotels & Resorts most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=HST
Earnings Highlights and Summary
For Q4 FY17, Host Hotels reported total revenues of $1.34 billion, which grew 0.5% y-o-y. However, the Company's total revenue numbers for the reported quarter fell short of market consensus estimates of $1.35 billion. During the reported quarter, the Company's room revenues grew to $847 million from $837 million in the year ago same quarter. The Company's food and beverage revenues fell to $409 million in Q4 FY17 from $416 million in Q4 FY16. Furthermore, the Company's other revenues were $88 million in Q4 FY17 compared to $84 million in Q4 FY16.
The lodging real estate investment trust reported an income attributable to common shareholders of $92 million, or $0.12 per diluted share, in Q4 FY17 compared to $126 million, or $0.17 per diluted share, in the previous year's corresponding quarter. Meanwhile, the Company's adjusted FFO increased to $312 million, or $0.42 per diluted share, in Q4 FY17 from $304 million, or $0.41 per diluted share, in Q4 FY16. Moreover, Wall Street had expected the Company to report adjusted FFO of $0.39 per diluted share.
For the full year FY17, the Bethesda, Maryland-based Company's total revenues were $5.39 billion compared to $5.43 billion in FY16. The Company posted a net income of $571 million, or $0.76 per diluted share, in FY17 compared to $771 million, or $1.02 per diluted share, in FY16. Additionally, the Company's adjusted FFO came in flat at $1.25 billion, or $1.69 per diluted share, in FY17.
Operating Metrics
In Q4 FY17, the Company's room expenses were $223 million versus $219 million in the last year's comparable quarter. The Company's food and beverage expenses were $277 million in Q4 FY17 compared to $284 million in Q4 FY16. The Company's total operating costs and expenses increased to $1.21 billion in Q4 FY17 from $1.19 billion in Q4 FY16. The Company's operating profit was $134 million, or 10% of total revenues, in the reported quarter compared to $150 million, or 11.2% of total revenues, in Q4 FY16.
The Company's comparable revenue per available room (RevPAR) on a constant dollar basis increased 2.2% to $175.52 y-o-y in Q4 FY17, due to a 0.3% increase in average room rate and a 140-basis point increase in occupancy. The occupancy rate was 76.6% in Q4 FY17 compared to 75.2% in the year ago same quarter. Furthermore, comparable hotel earnings before interest, tax, depreciation, and amortization (EBITDA) came in at $332 million in Q4 FY17 compared to $324 million in Q4 FY16.
Balance Sheet
Host Hotels had cash and cash equivalents worth $913 million at the close of its books on December 31, 2017, compared to $372 million as on December 31, 2016. The Company had reported debt of $2.78 billion as on December 31, 2017, compared to $2.38 billion as on December 31, 2016.
Dividend and Share Repurchase
In its earnings press release, Host Hotels' Board of Directors authorized a regular quarterly cash dividend of $0.20 per share on its common stock. The dividend will be paid on April 16, 2018, to stockholders of record as on March 29, 2018.
Outlook
In its outlook for the full year FY18, the Company forecasts net income to be between $547 million and $616 million. The Company's adjusted EBITDA is anticipated to be in the range of $1.47 billion to $1.54 billion for FY18. Furthermore, the Company's adjusted FFO per diluted share is expected to be in the band of $1.60 to $1.70 for FY18.
Stock Performance Snapshot
April 03, 2018 - At Tuesday's closing bell, Host Hotels & Resorts' stock climbed 1.97%, ending the trading session at $18.65.
Volume traded for the day: 4.96 million shares.
Stock performance in the last month - up 1.14%; previous six-month period - up 1.12%; and past twelve-month period - up 0.20%
After yesterday's close, Host Hotels & Resorts' market cap was at $13.78 billion.
Price to Earnings (P/E) ratio was at 24.19.
The stock has a dividend yield of 4.29%.
The stock is part of the Financial sector, categorized under the REIT - Hotel/Motel industry. This sector was up 1.0% at the end of the session.
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