Host Hotels & Resorts (HST)
Market Price (10/22/2026): $24.97 | Market Cap: $17.1 BilSector: Real Estate | Industry: Hotel & Resort REITs
Host Hotels & Resorts (HST)
Market Price (10/22/2026): $24.97Market Cap: $17.1 BilSector: Real EstateIndustry: Hotel & Resort REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.8%, Dividend Yield is 3.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.9%, FCF Yield is 5.9% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% Low stock price volatilityVol 12M is 25% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Travel & Leisure Tech, Show more. | Trading close to highsDist 52W High is -0.9%, Dist 3Y High is -0.9% | Key risksHST key risks include [1] significant exposure to rising interest rates and reliance on external capital due to its REIT structure and floating-rate debt, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.8%, Dividend Yield is 3.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.9%, FCF Yield is 5.9% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% |
| Low stock price volatilityVol 12M is 25% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include Travel & Leisure Tech, Show more. |
| Trading close to highsDist 52W High is -0.9%, Dist 3Y High is -0.9% |
| Key risksHST key risks include [1] significant exposure to rising interest rates and reliance on external capital due to its REIT structure and floating-rate debt, Show more. |
Qualitative Assessment
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Host Hotels & Resorts (HST) stock has gained about 5% since 6/30/2026 because of the following key factors:
1. Strong Performance in Fiscal Q2 2026 Earnings and Optimistic Outlook. Host Hotels & Resorts reported its fiscal Second Quarter 2026 results on August 5, 2026, showing a marginal increase of 0.1% in comparable hotel portfolio Revenue Per Available Room (RevPAR) over the prior quarter. The company maintained a robust average occupancy rate of 74.7% and a consistent average room rate of approximately $305, indicating solid demand across its urban and resort markets. The positive impact of insurance proceeds from the Ritz-Carlton Naples, coupled with increased group business and food & beverage spending, further contributed to a favorable outlook for the company.
2. Consistent Shareholder Returns through Dividend Distribution. Host Hotels & Resorts reinforced investor confidence by announcing a third quarter 2026 dividend on September 15, 2026. The company paid a quarterly dividend of $0.20 per share on October 15, 2026, to shareholders of record as of September 30, 2026.
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Host Hotels & Resorts (HST) stock has gained about 5% since 6/30/2026 because of the following key factors:
1. Strong Performance in Fiscal Q2 2026 Earnings and Optimistic Outlook. Host Hotels & Resorts reported its fiscal Second Quarter 2026 results on August 5, 2026, showing a marginal increase of 0.1% in comparable hotel portfolio Revenue Per Available Room (RevPAR) over the prior quarter. The company maintained a robust average occupancy rate of 74.7% and a consistent average room rate of approximately $305, indicating solid demand across its urban and resort markets. The positive impact of insurance proceeds from the Ritz-Carlton Naples, coupled with increased group business and food & beverage spending, further contributed to a favorable outlook for the company.
2. Consistent Shareholder Returns through Dividend Distribution. Host Hotels & Resorts reinforced investor confidence by announcing a third quarter 2026 dividend on September 15, 2026. The company paid a quarterly dividend of $0.20 per share on October 15, 2026, to shareholders of record as of September 30, 2026.
3. Favorable Trends in the Luxury and Upper-Upscale Hospitality Market. The broader hospitality market, particularly the luxury segment in which Host Hotels & Resorts predominantly operates, experienced continued strength during the period. Luxury chains were forecasted for double-digit RevPAR growth in both fiscal Q2 and Q3 2026, with full-year Average Daily Rate (ADR) growth projected at +5.9%. Additionally, the domestic hotel industry maintained strong momentum in September 2026, driven by higher room rates, which increased by approximately 13% year-on-year, and resilient domestic travel and MICE (Meetings, Incentives, Conferences, and Exhibitions) activity, leading to an approximate 6% increase in occupancy.
4. Positive Analyst Sentiment and Upgraded Price Targets. Analysts covering Host Hotels & Resorts maintained a "Buy" consensus rating for the stock, with a 12-month average price target of $25.54, representing a 2.98% upside from the recent trading price. Notably, firms such as Barclays and Morgan Stanley raised their price targets for HST, signaling increased optimism regarding the company's prospects.
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Stock Movement Drivers
Fundamental Drivers
The 6.8% change in HST stock from 6/30/2026 to 10/21/2026 was primarily driven by a 4.7% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10212026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.50 | 25.09 | 6.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,165 | 6,219 | 0.9% |
| Net Income Margin (%) | 16.4% | 16.5% | 0.7% |
| P/E Multiple | 16.0 | 16.7 | 4.7% |
| Shares Outstanding (Mil) | 688 | 685 | 0.4% |
| Cumulative Contribution | 6.8% |
Market Drivers
6/30/2026 to 10/21/2026| Return | Correlation | |
|---|---|---|
| HST | 6.8% | |
| Market (SPY) | 3.5% | 19.4% |
| Sector (XLRE) | -4.5% | 38.9% |
Fundamental Drivers
The 37.2% change in HST stock from 3/31/2026 to 10/21/2026 was primarily driven by a 32.0% change in the company's Net Income Margin (%).| (LTM values as of) | 3312026 | 10212026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.29 | 25.09 | 37.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,114 | 6,219 | 1.7% |
| Net Income Margin (%) | 12.5% | 16.5% | 32.0% |
| P/E Multiple | 16.4 | 16.7 | 1.7% |
| Shares Outstanding (Mil) | 688 | 685 | 0.4% |
| Cumulative Contribution | 37.2% |
Market Drivers
3/31/2026 to 10/21/2026| Return | Correlation | |
|---|---|---|
| HST | 37.2% | |
| Market (SPY) | 19.2% | 28.3% |
| Sector (XLRE) | 3.9% | 43.8% |
Fundamental Drivers
The 59.1% change in HST stock from 9/30/2025 to 10/21/2026 was primarily driven by a 48.5% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10212026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.77 | 25.09 | 59.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,927 | 6,219 | 4.9% |
| Net Income Margin (%) | 11.1% | 16.5% | 48.5% |
| P/E Multiple | 16.6 | 16.7 | 1.0% |
| Shares Outstanding (Mil) | 692 | 685 | 1.1% |
| Cumulative Contribution | 59.1% |
Market Drivers
9/30/2025 to 10/21/2026| Return | Correlation | |
|---|---|---|
| HST | 59.1% | |
| Market (SPY) | 17.0% | 36.7% |
| Sector (XLRE) | 2.5% | 44.2% |
Fundamental Drivers
The 88.1% change in HST stock from 9/30/2023 to 10/21/2026 was primarily driven by a 33.7% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10212026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.34 | 25.09 | 88.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,226 | 6,219 | 19.0% |
| Net Income Margin (%) | 14.5% | 16.5% | 13.9% |
| P/E Multiple | 12.5 | 16.7 | 33.7% |
| Shares Outstanding (Mil) | 711 | 685 | 3.9% |
| Cumulative Contribution | 88.1% |
Market Drivers
9/30/2023 to 10/21/2026| Return | Correlation | |
|---|---|---|
| HST | 88.1% | |
| Market (SPY) | 87.1% | 58.3% |
| Sector (XLRE) | 35.7% | 52.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HST Return | 19% | -5% | 28% | -5% | 7% | 48% | 117% |
| Peers Return | 17% | -23% | 28% | -0% | -11% | 59% | 60% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| HST Win Rate | 50% | 50% | 58% | 50% | 58% | 80% | |
| Peers Win Rate | 52% | 42% | 53% | 40% | 43% | 76% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| HST Max Drawdown | -19% | -27% | -23% | -23% | -26% | -15% | |
| Peers Max Drawdown | -26% | -36% | -25% | -21% | -34% | -12% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PK, RHP, PEB, SHO, DRH. See HST Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/21/2026 (YTD)
How Low Can It Go
| Event | HST | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -24.6% | -18.8% |
| % Gain to Breakeven | 32.6% | 23.1% |
| Time to Breakeven | 136 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.0% | -7.8% |
| % Gain to Breakeven | 12.3% | 8.5% |
| Time to Breakeven | 44 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -12.9% | -9.5% |
| % Gain to Breakeven | 14.8% | 10.5% |
| Time to Breakeven | 24 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -19.5% | -6.7% |
| % Gain to Breakeven | 24.2% | 7.1% |
| Time to Breakeven | 127 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -12.7% | -24.5% |
| % Gain to Breakeven | 14.5% | 32.4% |
| Time to Breakeven | 34 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -44.8% | -33.7% |
| % Gain to Breakeven | 81.2% | 50.9% |
| Time to Breakeven | 322 days | 140 days |
In The Past
Host Hotels & Resorts's stock fell -24.6% during the 2025 US Tariff Shock. Such a loss loss requires a 32.6% gain to breakeven.
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Asset Allocation
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| Event | HST | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -24.6% | -18.8% |
| % Gain to Breakeven | 32.6% | 23.1% |
| Time to Breakeven | 136 days | 79 days |
| 2020 COVID-19 Crash | ||
| % Loss | -44.8% | -33.7% |
| % Gain to Breakeven | 81.2% | 50.9% |
| Time to Breakeven | 322 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.3% | -19.2% |
| % Gain to Breakeven | 30.4% | 23.8% |
| Time to Breakeven | 1150 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -32.9% | -12.2% |
| % Gain to Breakeven | 49.1% | 13.9% |
| Time to Breakeven | 322 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -40.0% | -6.8% |
| % Gain to Breakeven | 66.8% | 7.3% |
| Time to Breakeven | 638 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -39.9% | -17.9% |
| % Gain to Breakeven | 66.3% | 21.8% |
| Time to Breakeven | 123 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -23.5% | -15.4% |
| % Gain to Breakeven | 30.7% | 18.2% |
| Time to Breakeven | 121 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -79.6% | -53.4% |
| % Gain to Breakeven | 389.6% | 114.4% |
| Time to Breakeven | 413 days | 1085 days |
In The Past
Host Hotels & Resorts's stock fell -24.6% during the 2025 US Tariff Shock. Such a loss loss requires a 32.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Host Hotels & Resorts (HST)
Host Hotels & Resorts (HST) is a leading S&P 500 company and the largest lodging real estate investment trust (REIT), primarily focused on owning high-quality hotel properties. Unlike hotel operators, Host's business model centers on acquiring, owning, and strategically managing a portfolio of luxury and upper-upscale hotel real estate assets. This makes it a real estate landlord in the hospitality sector, generating revenue through its property ownership rather than direct hotel operations.
The company's extensive portfolio includes 74 properties in the United States and five internationally, encompassing approximately 46,100 rooms. Host enhances the value of these assets by partnering with numerous prestigious global brands such as Marriott, Ritz-Carlton, Hyatt, and Hilton, among others. These partnerships ensure that the hotels are managed and branded by experienced operators, offering guests premium lodging services and amenities under well-recognized names.
Host Hotels & Resorts targets the luxury and upper-upscale segments of the hospitality market. Its primary customers are diverse, ranging from business travelers seeking high-end accommodations for corporate trips to leisure guests and groups enjoying premium experiences. With a disciplined approach to capital allocation and asset management, Host strategically invests in properties that appeal to guests prioritizing brand quality, superior service, and prime locations, predominantly across key U.S. markets.
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Here are 1-3 brief analogies for Host Hotels & Resorts (HST):
- Host Hotels & Resorts is like Simon Property Group (SPG) for luxury hotels – they own a vast portfolio of prime hotel real estate and partner with top brands like Marriott and Hyatt to operate them.
- Think of Host Hotels & Resorts as American Tower (AMT) for high-end hotel real estate – they own the valuable buildings and land, while famous hotel brands lease and run the day-to-day operations.
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- Luxury & Upper-Upscale Hotel Properties: Host Hotels & Resorts owns a vast portfolio of premium hotel properties, operated by leading global brands, that offer lodging, dining, and event facilities.
- Hotel Real Estate Asset Management: The company provides strategic oversight and aggressive asset management services to optimize the value and financial performance of its hotel property portfolio.
- Hospitality Joint Venture Investments: Host Hotels & Resorts invests in and manages non-controlling interests in various domestic and international joint ventures within the hospitality sector.
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Host Hotels & Resorts (HST) operates as a lodging real estate investment trust (REIT). Its business model involves owning hotel properties and partnering with major hotel brands to manage and operate these properties. Therefore, its major "customers" are the hotel management companies and brands that lease or operate its properties, from which Host derives its revenue through various agreements (e.g., base rent, percentage rent, or profit-sharing).
The major customer companies for Host Hotels & Resorts, based on the brands they partner with, include:
- Marriott International, Inc. (symbol: MAR)
- Hyatt Hotels Corporation (symbol: H)
- Hilton Worldwide Holdings Inc. (symbol: HLT)
- Accor SA (operates brands like Fairmont, Swissôtel, ibis, Novotel)
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- Marriott International, Inc. (MAR)
- Hyatt Hotels Corporation (H)
- Hilton Worldwide Holdings Inc. (HLT)
- Accor S.A. (ACCYY)
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James F. Risoleo, President, Chief Executive Officer and Director
Mr. Risoleo joined Host Hotels & Resorts in 1996 and has served as its President and Chief Executive Officer since January 2017. His previous roles at Host include Executive Vice President and Managing Director of European business activities, leader of West Coast investment activities, Executive Vice President and Chief Investment Officer, and Senior Vice President for acquisitions. Before joining Host, Mr. Risoleo was Vice President, Development at Interstate Hotels Corporation and a Senior Vice President, Commercial Real Estate at Westinghouse Electric Corporation. He earned a business degree and a Juris Doctor from Duquesne University and is a member of the Pennsylvania Bar. Mr. Risoleo also previously served as a director of Cole Office & Industrial REIT, a public non-listed REIT.
Sourav Ghosh, Executive Vice President, Chief Financial Officer
Mr. Ghosh joined Host Hotels & Resorts in 2009 and has served as Chief Financial Officer since 2020. Prior to his CFO role, he was Executive Vice President, Strategy & Analytics and Vice President, Global Business Intelligence & Portfolio Strategy at Host. Before joining Host, Mr. Ghosh held various positions at Starwood Hotels & Resorts, including Senior Director of Real Estate Investments and Director of Acquisitions & Development, where he was responsible for sourcing, structuring, and negotiating acquisitions and development deals. He is an alumnus of Widener University. Mr. Ghosh serves on the board of directors for the U.S. Travel Association, Uniform System of Accounts for the Lodging Industry, and a.k.a. Brands Holding Corp.
Julie P. Aslaksen, Executive Vice President, General Counsel and Secretary
Ms. Aslaksen joined Host Hotels & Resorts in 2019 and serves as Executive Vice President, General Counsel and Secretary. Her previous experience includes serving as Vice President and General Counsel at General Dynamics Information Technology, and Staff Vice President, Deputy General Counsel and Assistant Secretary at General Dynamics Corporation.
Nathan S. Tyrrell, Executive Vice President, Chief Investment Officer
Mr. Tyrrell joined Host Hotels & Resorts in 2005 and has served as Executive Vice President and Chief Investment Officer since 2017. During his tenure at Host, he held leadership positions including Executive Vice President, Investments; Managing Director, Investments; and Senior Vice President, Treasurer. Before joining Host, Mr. Tyrrell worked in finance and development at The Rouse Company and in investment banking for Alex. Brown Realty, Inc., focusing on real estate and mergers and acquisitions.
Michael E. Lentz, Executive Vice President, Development, Design & Construction
Mr. Lentz joined Host Hotels & Resorts in 2016 and has served as Executive Vice President, Development, Design & Construction since 2019. Prior to Host, Mr. Lentz was Senior Vice President and Head of Global Development for Las Vegas Sands Corp., a global gaming company, and Vice President of Project Development at Walt Disney Imagineering, where he oversaw the development, design, and construction of theme parks, timeshare, and resort hotels.
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- Cyclicality of the Lodging Industry and Sensitivity to Economic Downturns: As the largest lodging real estate investment trust, Host Hotels & Resorts is highly susceptible to the cyclical nature of the hotel industry. Its focus on luxury and upper-upscale properties makes it particularly vulnerable to economic slowdowns, as both high-end leisure and business travelers tend to curtail spending during such periods. This can lead to significant volatility in the company's financial performance, affecting occupancy levels and room rates.
- Exposure to External Economic, Political, and Environmental Factors: Host Hotels & Resorts' operations are influenced by a broad range of external factors. These include shifts in travel patterns, geopolitical tensions, and the continuing threat of pandemics, all of which can disrupt travel and negatively impact revenue streams. Furthermore, climate change poses increasing risks, such as more frequent and intense severe weather events in coastal markets, potential limitations on water usage in other areas, rising property insurance costs, and increased operating expenses to protect and repair hotels.
- Intense Competition and Market Saturation: The lodging industry is highly competitive, with Host Hotels & Resorts facing rivals from other luxury and upper-upscale hotels, as well as alternative lodging options like short-term rentals. Market saturation in key urban and resort destinations can limit growth opportunities and exert downward pressure on room rates and occupancy levels, impacting the company's profitability and market share.
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The U.S. luxury and upscale hotel market was estimated at approximately $160.56 billion in 2024.
The global luxury hotel market size was valued at $170.77 billion in 2025, with projections to grow to $189.68 billion in 2026.
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Host Hotels & Resorts (symbol: HST) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market trends:
- Growth in Group and Business Transient Demand: The company has observed significant growth in group room nights and an increased pace in total group revenue. For instance, in Q1 2024, group revenue per available room (RevPAR) grew 4% driven by room nights, with definite group room nights on the books for 2024 totaling 3.6 million, and total group revenue pace up 7% compared to the prior year. Business transient RevPAR also grew 5% in Q1 2024, driven by both rate and room nights. The company maintained an optimistic outlook for 2024 due to reasons including business transient's gradual improvement.
- Strong Leisure Segment Performance and Pricing Power: Host Hotels & Resorts anticipates continued robust performance from its leisure segment, particularly at its luxury and upper-upscale resorts. Transient rates at comparable resorts were up 52% in Q1 2024 compared to 2019, reflecting strong leisure demand and pricing power. This trend is supported by affluent consumers prioritizing spending on experiences, as highlighted in the company's outlook.
- Revenue Generation from Strategic Renovations and Asset Management: The company's disciplined approach to capital allocation includes transformational renovations aimed at enhancing property value and market share. Since 2018, Host has completed 24 such renovations. The 12 hotels that have stabilized post-renovation operations have shown an average RevPAR index share gain of 8.5 points, exceeding the targeted gain of 3 to 5 points, indicating meaningful tailwinds for the portfolio. These strategic investments are designed to improve both the top line and EBITDA.
- Growth in Ancillary Spending (Out-of-Room Revenue): Host Hotels & Resorts is benefiting from elevated levels of out-of-room spending by guests. This includes strong growth in food and beverage, golf, and spa revenues. In Q4 2025, comparable hotel food and beverage revenue grew approximately 6%, and other revenue, including golf and spa, saw a 10% increase. This increased ancillary spending contributes to overall total RevPAR growth.
- Strategic Portfolio Expansion through Acquisitions: The company actively pursues opportunistic acquisitions to enhance its portfolio quality and expand its footprint. Host seeks larger, more complex transactions in hotels with diverse demand generators (group, business transient, and leisure) and multiple revenue outlets. An example is the recently announced acquisition of a two-hotel complex in Nashville for approximately $530 million, which is expected to further improve the quality of its portfolio and rank among its top assets based on estimated 2024 results.
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Share Repurchases
- Host Hotels & Resorts repurchased $100 million of common stock in Q1 2025, buying 6.3 million shares at an average price of $15.79 per share.
- Since 2022, the company has repurchased $415 million of stock at an average price of $16.16 per share.
- As of February 2026, the company had a remaining capacity of $585 million under its Board-authorized share repurchase program.
Share Issuance
- No significant dollar amount of share issuances as a capital allocation decision was found for Host Hotels & Resorts within the last 3-5 years.
Inbound Investments
- No information regarding large inbound investments made in Host Hotels & Resorts by third-parties was found within the last 3-5 years.
Outbound Investments
- No instances where Host Hotels & Resorts made a strategic investment in another company were found within the last 3-5 years. The company's capital allocation in this area has focused on portfolio recycling through dispositions.
Capital Expenditures
- Host Hotels & Resorts reported total capital expenditures of $644 million for the full year 2025.
- The company forecasts total capital expenditures for 2026 to be between $525 million and $625 million.
- Primary focus of capital expenditures includes multi-year, comprehensive Marriott and Hyatt Transformational Capital Programs aimed at increasing RevPAR index share and elevating EBITDA growth.
Peer Outperformance in Hotel & Resort REITs
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care REITs | 15 | 10.9% | 57.5% | 51.2% | WELL 217% · OHI 113% · CTRE 112% |
| Retail REITs | 22 | 6.3% | 37.7% | 25.1% | SKT 147% · SPG 86% · MAC 59% |
| Other Specialized REITs | 10 | 2.1% | 23.4% | 17.4% | IRM 203% · LAMR 68% · OUT 62% |
| Hotel & Resort REITs ← | 16 | 52.5% | 53.5% | 10.7% | HST 92% · RHP 84% · DRH 70% |
| Real Estate Development | 6 | -15.3% | 15.5% | 7.0% | JOE 53% |
| Industrial REITs | 11 | 4.5% | 37.2% | -6.7% | EGP 25% · FR 18% · TRNO 6% |
| Diversified REITs | 13 | 1.9% | 26.1% | -20.0% | WPC 9% · LXP 7% · EPRT 5% |
| Single-Family Residential REITs | 4 | -2.7% | 1.0% | -20.4% | AMH -10% · ELS -20% · INVH -21% |
| Multi-Family Residential REITs | 13 | -5.9% | 9.5% | -24.3% | ESS -1% · VMRK -11% · IRT -20% |
| Office REITs | 18 | -11.7% | 27.1% | -35.2% | CDP 46% · HIW -10% · SLG -10% |
| Real Estate Services | 26 | -28.9% | -22.0% | -35.6% | CBRE 32% · JLL 20% · NMRK -19% |
| Telecom Tower REITs | 3 | -10.0% | 7.3% | -43.4% | AMT -25% · CCI -43% · SBAC -45% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 18.69 |
| Mkt Cap | 3.1 |
| Rev LTM | 2,021 |
| Op Inc LTM | 243 |
| FCF LTM | 237 |
| FCF 3Y Avg | 208 |
| CFO LTM | 342 |
| CFO 3Y Avg | 349 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.5% |
| Rev Chg 3Y Avg | 2.1% |
| Rev Chg Q | 3.8% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Inc Chg LTM | 18.0% |
| Op Inc Chg 3Y Avg | 4.6% |
| Op Mgn LTM | 13.2% |
| Op Mgn 3Y Avg | 12.7% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | 20.6% |
| CFO/Rev 3Y Avg | 19.9% |
| FCF/Rev LTM | 15.4% |
| FCF/Rev 3Y Avg | 13.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 3.1 |
| P/S | 2.4 |
| P/Op Inc | 17.4 |
| P/EBIT | 18.9 |
| P/E | 17.6 |
| P/CFO | 11.2 |
| Total Yield | 6.4% |
| Dividend Yield | 3.6% |
| FCF Yield 3Y Avg | 6.7% |
| D/E | 0.5 |
| Net D/E | 0.4 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Hotel ownership | 6,114 | 5,684 | 5,311 | 4,907 | |
| Food and beverage | 674 | ||||
| Other | 358 | ||||
| Rooms | 1,858 | ||||
| Total | 6,114 | 5,684 | 5,311 | 4,907 | 2,890 |
| $ Mil | 1998 | 1997 |
|---|---|---|
| Hotels | 618 | 444 |
| Corporate & Other | 43 | -12 |
| Senior Living | 17 | |
| Total | 661 | 449 |
| $ Mil | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Hotel ownership | 776 | 707 | 752 | 643 |
| Total | 776 | 707 | 752 | 643 |
| $ Mil | 1998 | 1997 |
|---|---|---|
| Hotels | 7,908 | 5,787 |
| Corporate & Other | 360 | 116 |
| Senior Living | 623 | |
| Total | 8,268 | 6,526 |
Price Behavior
| Market Price | $25.09 | |
| Market Cap ($ Bil) | 17.2 | |
| First Trading Date | 04/06/1983 | |
| Distance from 52W High | -0.9% | |
| 50 Days | 200 Days | |
| DMA Price | $22.51 | $21.01 |
| DMA Trend | down | up |
| Distance from DMA | 11.5% | 19.4% |
| 3M | 1YR | |
| Volatility | 24.4% | 24.7% |
| Downside Capture | 105.13 | 55.95 |
| Upside Capture | 90.70 | 101.41 |
| Correlation (S&P 500) | 10.6% | 34.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.76 | 0.46 | 0.39 | 0.53 | 0.71 | 1.00 |
| Up Beta | -0.05 | 0.21 | -0.73 | 0.33 | 0.62 | 1.05 |
| Down Beta | -0.09 | -1.68 | -0.67 | 0.12 | 0.68 | 0.91 |
| Up Capture | 104% | 37% | 81% | 79% | 84% | 97% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 12 | 18 | 32 | 66 | 131 | 389 |
| Down Capture | 69% | 151% | 121% | 64% | 68% | 101% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 10 | 24 | 31 | 58 | 118 | 354 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HST | |
|---|---|---|---|---|
| HST | 64.5% | 24.7% | 1.96 | - |
| Sector ETF (XLRE) | 1.7% | 14.3% | -0.12 | 43.1% |
| Equity (SPY) | 16.2% | 12.7% | 0.90 | 34.7% |
| Gold (GLD) | -6.0% | 29.0% | -0.22 | 15.9% |
| Commodities (DBC) | 50.2% | 20.7% | 1.85 | -20.2% |
| Real Estate (VNQ) | 3.1% | 13.8% | -0.03 | 46.8% |
| Bitcoin (BTCUSD) | -25.3% | 43.4% | -0.55 | 14.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HST | |
|---|---|---|---|---|
| HST | 14.6% | 30.0% | 0.48 | - |
| Sector ETF (XLRE) | 1.7% | 19.1% | -0.02 | 53.5% |
| Equity (SPY) | 13.6% | 17.1% | 0.61 | 61.1% |
| Gold (GLD) | 17.7% | 18.9% | 0.76 | 6.9% |
| Commodities (DBC) | 9.5% | 19.5% | 0.37 | 14.1% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | 58.0% |
| Bitcoin (BTCUSD) | 7.6% | 51.7% | 0.33 | 29.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HST | |
|---|---|---|---|---|
| HST | 9.4% | 34.0% | 0.35 | - |
| Sector ETF (XLRE) | 6.7% | 20.4% | 0.28 | 54.3% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 57.9% |
| Gold (GLD) | 12.2% | 16.4% | 0.61 | -0.9% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 22.0% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 60.3% |
| Bitcoin (BTCUSD) | 62.6% | 66.2% | 1.02 | 17.8% |
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Returns Analyses
Earnings Returns History
Updated 9/8/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -7.0% | -9.3% | -12.5% |
| 5/6/2026 | -0.0% | -0.6% | 13.6% |
| 2/18/2026 | -0.9% | -2.7% | -5.7% |
| 11/5/2025 | 6.8% | 11.4% | 5.5% |
| 7/30/2025 | -2.5% | -5.1% | 7.2% |
| 4/30/2025 | 2.9% | 3.4% | 9.7% |
| 2/19/2025 | -1.9% | -6.3% | -12.4% |
| 11/6/2024 | 0.1% | 0.1% | 4.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 11 | 15 |
| # Negative | 15 | 13 | 9 |
| Median Positive | 2.9% | 3.4% | 5.5% |
| Median Negative | -2.1% | -5.1% | -12.4% |
| Max Positive | 6.8% | 16.7% | 42.4% |
| Max Negative | -7.4% | -9.3% | -16.8% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/5/2026 | -7.0% | -9.3% | -12.5% |
| 5/6/2026 | -0.0% | -0.6% | 13.6% |
| 2/18/2026 | -0.9% | -2.7% | -5.7% |
| 11/5/2025 | 6.8% | 11.4% | 5.5% |
| 7/30/2025 | -2.5% | -5.1% | 7.2% |
| 4/30/2025 | 2.9% | 3.4% | 9.7% |
| 2/19/2025 | -1.9% | -6.3% | -12.4% |
| 11/6/2024 | 0.1% | 0.1% | 4.5% |
| 7/31/2024 | -4.3% | -8.5% | 0.8% |
| 5/1/2024 | -2.1% | -3.2% | -4.8% |
| 2/21/2024 | 2.2% | 2.1% | 4.7% |
| 11/1/2023 | 4.5% | 3.4% | 13.6% |
| 8/2/2023 | -7.4% | -7.2% | -13.0% |
| 5/3/2023 | 6.4% | 6.5% | 8.2% |
| 2/15/2023 | -5.9% | -5.9% | -16.8% |
| 11/2/2022 | -5.6% | -6.7% | 3.2% |
| 8/3/2022 | 2.0% | 8.1% | 0.2% |
| 5/4/2022 | -1.9% | -4.2% | 2.1% |
| 2/16/2022 | -0.1% | -4.2% | -1.5% |
| 11/3/2021 | 0.7% | 1.3% | -13.2% |
| 8/3/2021 | -4.0% | 2.6% | 3.9% |
| 5/4/2021 | -0.2% | -3.3% | -0.8% |
| 2/18/2021 | 4.4% | 2.1% | 11.2% |
| 11/4/2020 | -0.5% | 16.7% | 42.4% |
| SUMMARY STATS | |||
| # Positive | 9 | 11 | 15 |
| # Negative | 15 | 13 | 9 |
| Median Positive | 2.9% | 3.4% | 5.5% |
| Median Negative | -2.1% | -5.1% | -12.4% |
| Max Positive | 6.8% | 16.7% | 42.4% |
| Max Negative | -7.4% | -9.3% | -16.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/01/2025 | 10-Q |
| 03/31/2025 | 05/02/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/28/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/22/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
| 09/30/2021 | 11/05/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/25/2020 | 10-K |
| 09/30/2019 | 11/07/2019 | 10-Q |
Recent Forward Guidance
Updated 8/6/2026Latest: Q2 2026 Earnings Reported 8/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 NAREIT FFO per diluted share | Reported | 2.11 | 2.13 | 2.14 | ||||
| 2026 Adjusted FFO per diluted share | Reported | 2.15 | 2.17 | 2.18 | ||||
| 2026 Comparable hotel Total RevPAR growth | Reported | 4.75% | 5.0% | 5.25% | ||||
| 2026 Comparable hotel RevPAR growth | Reported | 4.75% | 5.0% | 5.25% | ||||
| 2026 Comparable hotel EBITDA margin | Reported | 29.6% | 29.65% | 29.7% | 0.1% | Raised | Guidance: 29.55% for 2026 | |
| 2026 Revenue | Reported | 6.12 Bil | 6.14 Bil | 6.15 Bil | -0.0% | Lowered | Guidance: 6.14 Bil for 2026 | |
| 2026 Operating profit margin | Reported | 14.9% | 15.0% | 15.1% | 0.2% | Raised | Guidance: 14.75% for 2026 | |
| 2026 Adjusted EBITDAre | Reported | 1.82 Bil | 1.83 Bil | 1.84 Bil | 1.1% | Raised | Guidance: 1.81 Bil for 2026 | |
| 2026 Net Income | Reported | 944.00 Mil | 953.00 Mil | 962.00 Mil | 2.3% | Raised | Guidance: 931.50 Mil for 2026 | |
| 2026 EPS | Reported | 1.35 | 1.37 | 1.38 | 2.2% | Raised | Guidance: 1.34 for 2026 | |
| 2026 Capital Expenditures | Reported | 550.00 Mil | 590.00 Mil | 630.00 Mil | -1.7% | Lowered | Guidance: 600.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Comparable hotel Total RevPAR | Reported | 386 | 388.5 | 391 | ||||
| 2026 Comparable hotel RevPAR | Reported | 230 | 231.5 | 233 | ||||
| 2026 Comparable hotel EBITDA margin | Reported | 29.4% | 29.55% | 29.7% | 0.4% | Raised | Guidance: 29.2% for 2026 | |
| 2026 Revenue | Reported | 6.10 Bil | 6.14 Bil | 6.18 Bil | 1.1% | Raised | Guidance: 6.08 Bil for 2026 | |
| 2026 Operating Profit Margin | Reported | 14.4% | 14.75% | 15.1% | 0.5% | Raised | Guidance: 14.25% for 2026 | |
| 2026 Adjusted EBITDAre | Reported | 1.78 Bil | 1.81 Bil | 1.83 Bil | 2.3% | Raised | Guidance: 1.77 Bil for 2026 | |
| 2026 Net Income | Reported | 908.00 Mil | 931.50 Mil | 955.00 Mil | 7.9% | Raised | Guidance: 863.50 Mil for 2026 | |
| 2026 EPS | Reported | 1.3 | 1.34 | 1.37 | 8.5% | Raised | Guidance: 1.23 for 2026 | |
| 2026 Capital Expenditures | Reported | 545.00 Mil | 600.00 Mil | 655.00 Mil | 4.3% | Raised | Guidance: 575.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/18/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Comparable hotel Total RevPAR Growth | Reported | 2.5% | 3.25% | 4.0% | -0.2% | Lower New | Actual: 3.4% for 2025 | |
| 2026 Comparable hotel RevPAR Growth | Reported | 2.0% | 2.75% | 3.5% | -0.2% | Lower New | Actual: 3.0% for 2025 | |
| 2026 Comparable hotel EBITDA margin | Reported | 29.0% | 29.2% | 29.4% | 0.4% | Higher New | Actual: 28.8% for 2025 | |
| 2026 Diluted earnings per common share | Reported | 1.19 | 1.23 | 1.27 | 10.8% | Higher New | Actual: 1.11 for 2025 | |
| 2026 NAREIT FFO per diluted share | Reported | 1.99 | 2.03 | 2.07 | 1.5% | Higher New | Actual: 2 for 2025 | |
| 2026 Adjusted FFO per diluted share | Reported | 2.03 | 2.07 | 2.11 | 2.0% | Higher New | Actual: 2.03 for 2025 | |
| 2026 Total revenues | Reported | 6.03 Bil | 6.08 Bil | 6.12 Bil | 0.2% | Higher New | Actual: 6.06 Bil for 2025 | |
| 2026 Operating profit margin | Reported | 13.9% | 14.25% | 14.6% | 0.4% | Higher New | Actual: 13.9% for 2025 | |
| 2026 Adjusted EBITDAre | Reported | 1.74 Bil | 1.77 Bil | 1.80 Bil | 2.3% | Higher New | Actual: 1.73 Bil for 2025 | |
| 2026 Net income | Reported | 836.00 Mil | 863.50 Mil | 891.00 Mil | 10.7% | Higher New | Actual: 780.00 Mil for 2025 | |
| 2026 Total Capital Expenditures | Reported | 525.00 Mil | 575.00 Mil | 625.00 Mil | -7.6% | Lower New | Actual: 622.50 Mil for 2025 | |
Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Comparable hotel Total RevPAR Growth | Reported | 3.4% | ||||||
| 2025 Comparable hotel RevPAR Growth | Reported | 3.0% | ||||||
| 2025 Comparable hotel EBITDA margin | Reported | 28.8% | 0.2% | Raised | Guidance: 28.55% for 2025 | |||
| 2025 Diluted earnings per common share | Reported | 1.11 | 26.9% | Raised | Guidance: 0.88 for 2025 | |||
| 2025 NAREIT FFO per diluted share | Reported | 2 | 1.5% | Raised | Guidance: 1.97 for 2025 | |||
| 2025 Adjusted FFO per diluted share | Reported | 2.03 | 1.5% | Raised | Guidance: 2 for 2025 | |||
| 2025 Operating Guarantees | Reported | 24.00 Mil | ||||||
| 2025 Revenue | Reported | 6.06 Bil | -0.4% | Lowered | Guidance: 6.08 Bil for 2025 | |||
| 2025 Operating profit margin | Reported | 13.9% | 0.4% | Raised | Guidance: 13.5% for 2025 | |||
| 2025 Adjusted EBITDAre | Reported | 1.73 Bil | 1.5% | Raised | Guidance: 1.71 Bil for 2025 | |||
| 2025 Net income | Reported | 780.00 Mil | 26.6% | Raised | Guidance: 616.00 Mil for 2025 | |||
| 2025 Total Capital Expenditures | Reported | 605.00 Mil | 622.50 Mil | 640.00 Mil | -0.4% | Lowered | Guidance: 625.00 Mil for 2025 | |
Insider Activity
Updated 10/16/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lentz, Michael E | EVP, Development, D&C | Direct | Sell | 8252026 | 23.26 | 56,757 | 1,320,332 | 6,392,160 | Form |
| 2 | Tyrrell, Nathan S | EVP, Ch. Investment Officer | Direct | Sell | 8212026 | 23.13 | 63,882 | 1,477,756 | 14,300,733 | Form |
| 3 | Tyrrell, Nathan S | EVP, Ch. Investment Officer | Direct | Sell | 5272026 | 23.00 | 15,569 | 358,087 | 15,688,047 | Form |
| 4 | Rakowich, Walter C | Direct | Sell | 5272026 | 22.90 | 3,408 | 78,041 | 1,752,651 | Form | |
| 5 | Tyrrell, Nathan S | EVP, Ch. Investment Officer | Direct | Sell | 5112026 | 22.00 | 58,579 | 1,288,738 | 15,348,476 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lentz, Michael E | EVP, Development, D&C | Direct | Sell | 8252026 | 23.26 | 56,757 | 1,320,332 | 6,392,160 | Form |
| 2 | Tyrrell, Nathan S | EVP, Ch. Investment Officer | Direct | Sell | 8212026 | 23.13 | 63,882 | 1,477,756 | 14,300,733 | Form |
| 3 | Tyrrell, Nathan S | EVP, Ch. Investment Officer | Direct | Sell | 5272026 | 23.00 | 15,569 | 358,087 | 15,688,047 | Form |
| 4 | Rakowich, Walter C | Direct | Sell | 5272026 | 22.90 | 3,408 | 78,041 | 1,752,651 | Form | |
| 5 | Tyrrell, Nathan S | EVP, Ch. Investment Officer | Direct | Sell | 5112026 | 22.00 | 58,579 | 1,288,738 | 15,348,476 | Form |
| 6 | Lentz, Michael E | EVP, Development, D&C | Direct | Sell | 3022026 | 19.95 | 12,673 | 252,826 | 6,614,146 | Form |
| 7 | Tyrrell, Nathan S | EVP, Ch. Investment Officer | Direct | Sell | 12152025 | 18.47 | 9,086 | 167,847 | 12,189,375 | Form |
| 8 | Tyrrell, Nathan S | EVP, Ch. Investment Officer | Direct | Sell | 12152025 | 18.15 | 11,954 | 216,965 | 12,141,025 | Form |
| 9 | Lentz, Michael E | EVP, Development, D&C | Direct | Sell | 11262025 | 17.64 | 35,000 | 617,474 | 4,623,891 | Form |
Investor Activity (13F)
Updated Oct 22, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Hazelview Securities Inc. | $17.3 Mil | 3.2% | 45 | ADD +49.5% | 13F |
| Vert Asset Management LLC | $6.5 Mil | 2.1% | 48 | Hold | 13F |
| Sophron Capital Management L.P. | $6.9 Mil | 2.0% | 41 | New | 13F |
| Lasalle Investment Management Securities LLC | $38.9 Mil | 1.5% | 48 | ADD +25.7% | 13F |
| Resolution Capital Ltd | $40.2 Mil | 0.8% | 40 | ADD +5.9% | 13F |
| Active Manager |
|---|
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Resolution Capital Ltd | $40.2 Mil | 0.8% | 40 | ADD +5.9% | 13F |
| Lasalle Investment Management Securities LLC | $38.9 Mil | 1.5% | 48 | ADD +25.7% | 13F |
| Hazelview Securities Inc. | $17.3 Mil | 3.2% | 45 | ADD +49.5% | 13F |
| Sophron Capital Management L.P. | $6.9 Mil | 2.0% | 41 | New | 13F |
| Vert Asset Management LLC | $6.5 Mil | 2.1% | 48 | Hold | 13F |
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Hotel & Resort REITs Resources |
| Hotel News Now |
| Hospitality Net |
| Lodging Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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