Host Hotels & Resorts Earnings: The Recovery Continues
S&P 500 (NYSE:SPY) component Host Hotels & Resorts, Inc. (NYSE:HST) reported its results for the first quarter. Host Hotels & Resorts Inc. is a self-managed and self-administered hospitality real estate investment trust.
Host Hotels & Resorts Earnings Cheat Sheet for the First Quarter
Results: Loss narrowed to $60 million (loss of 9 cents/diluted share) by 28.6% from $84 million (loss of 13 cents/share) in the same quarter a year earlier.
Revenue: Rose 10.7% to $903 million YoY.
Actual vs. Wall St. Expectations: HST‘s funds from operations of 11 cents per share fell short of the mean analyst estimate of 12 cents/share. Estimates ranged from 10 cents per share to 15 cents per share.
Competitors to Watch: Ashford Hospitality Trust, Inc. (NYSE:AHT), MHI Hospitality Corp. (NASDAQ:MDH), Vornado Realty Trust (NYSE:VNO), American Assets Trust, Inc (NYSE:AAT), Boston Properties, Inc. (NYSE:BXP), Federal Realty Inv. Trust (NYSE:FRT), LaSalle Hotel Properties (NYSE:LHO), Strategic Hotels & Resorts Inc. (NYSE:BEE), DiamondRock Hospitality Co. (NYSE:DRH), and Chatham Lodging Trust (NYSE:CLDT).
Today’s Performance: Shares of HST are trading at $18.24 as of April 28, 2011 at 9:53 AM ET, up 0.7% from the previous closing price of $18.11.