Xenia Hotels & Resorts (NYSE:XHR) to Buyback $100.00 million in Shares

Xenia Hotels & Resorts (NYSE:XHR) announced that its Board of Directors has initiated a share buyback plan on Wednesday, May 14th, RTT News reports. The company plans to buyback $100.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase up to 8.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on XHR shares. Morgan Stanley decreased their price objective on Xenia Hotels & Resorts from $11.00 to $9.00 and set an “underweight” rating for the company in a report on Tuesday, April 22nd. StockNews.com upgraded shares of Xenia Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Monday, May 5th. Jefferies Financial Group downgraded shares of Xenia Hotels & Resorts from a “buy” rating to a “hold” rating and cut their price objective for the company from $18.00 to $10.00 in a report on Wednesday, April 9th. KeyCorp cut their price objective on shares of Xenia Hotels & Resorts from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, March 24th. Finally, Wells Fargo & Company cut their price objective on shares of Xenia Hotels & Resorts from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.50.

Xenia Hotels & Resorts Trading Up 0.5%

Xenia Hotels & Resorts stock opened at $12.31 on Friday. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 1.07. Xenia Hotels & Resorts has a 12 month low of $8.55 and a 12 month high of $16.50. The stock’s 50 day simple moving average is $11.19 and its two-hundred day simple moving average is $13.57. The firm has a market cap of $1.21 billion, a PE ratio of 53.50 and a beta of 1.60.

Xenia Hotels & Resorts (NYSE:XHR) last released its quarterly earnings data on Friday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, topping the consensus estimate of $0.42 by $0.09. Xenia Hotels & Resorts had a return on equity of 1.86% and a net margin of 2.37%. The business had revenue of $288.93 million for the quarter, compared to analyst estimates of $276.51 million. During the same quarter in the prior year, the firm posted $0.44 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts anticipate that Xenia Hotels & Resorts will post 1.46 earnings per share for the current year.

Xenia Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, June 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.55%. Xenia Hotels & Resorts’s dividend payout ratio (DPR) is 254.55%.

About Xenia Hotels & Resorts

Xenia Hotels & Resorts, Inc is a real estate investment trust, which engages in the provision of investment in luxury and upper upscale hotels and resorts. 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.