Host Hotels & Resorts (HST)
Market Price (9/7/2026): $22.08 | Market Cap: $15.1 BilSector: Real Estate | Industry: Hotel & Resort REITs
Host Hotels & Resorts (HST)
Market Price (9/7/2026): $22.08Market Cap: $15.1 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 11%, Dividend Yield is 4.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.8%, FCF Yield is 6.7% 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. | Weak multi-year price returns3Y Excs Rtn is -4.6% | 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 11%, Dividend Yield is 4.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.8%, FCF Yield is 6.7% |
| 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. |
| Weak multi-year price returns3Y Excs Rtn is -4.6% |
| 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
AI Analysis | Feedback
Host Hotels & Resorts (HST) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Strong Q2 Fiscal 2026 Earnings Performance Followed by Price Pullback: Host Hotels & Resorts reported robust financial results for fiscal Q2 2026 (ended June 30, 2026), with Adjusted Funds From Operations (AFFO) per share increasing 8.6% year-over-year to $0.63, surpassing analyst estimates. Total revenues also grew 3.4% to $1.64 billion, exceeding expectations. Despite these strong results, the stock experienced an approximate 7% decline immediately following the earnings release around early August 2026, suggesting that the positive news was largely anticipated and priced in, leading to profit-taking by investors.
2. Raised Fiscal 2026 Guidance Tempered by Anticipated RevPAR Deceleration: Management increased its full-year fiscal 2026 AFFO guidance to a range of $2.15–$2.18 per share, a 4.3% increase at the midpoint from previous guidance, reflecting the strong first-half performance. However, management also indicated an expectation for comparable hotel RevPAR growth to decelerate in the second half of fiscal 2026 compared to the Q2 2026 growth of 7.0%. This anticipated slowdown, particularly as the significant boost from events like the World Cup (which contributed approximately 160 basis points to Q2 RevPAR growth) fades, likely contributed to a stabilization of the stock price rather than sustained upward momentum.
Show more
Host Hotels & Resorts (HST) stock has remained largely at the same level since 5/31/2026 because of the following key factors:
1. Strong Q2 Fiscal 2026 Earnings Performance Followed by Price Pullback: Host Hotels & Resorts reported robust financial results for fiscal Q2 2026 (ended June 30, 2026), with Adjusted Funds From Operations (AFFO) per share increasing 8.6% year-over-year to $0.63, surpassing analyst estimates. Total revenues also grew 3.4% to $1.64 billion, exceeding expectations. Despite these strong results, the stock experienced an approximate 7% decline immediately following the earnings release around early August 2026, suggesting that the positive news was largely anticipated and priced in, leading to profit-taking by investors.
2. Raised Fiscal 2026 Guidance Tempered by Anticipated RevPAR Deceleration: Management increased its full-year fiscal 2026 AFFO guidance to a range of $2.15–$2.18 per share, a 4.3% increase at the midpoint from previous guidance, reflecting the strong first-half performance. However, management also indicated an expectation for comparable hotel RevPAR growth to decelerate in the second half of fiscal 2026 compared to the Q2 2026 growth of 7.0%. This anticipated slowdown, particularly as the significant boost from events like the World Cup (which contributed approximately 160 basis points to Q2 RevPAR growth) fades, likely contributed to a stabilization of the stock price rather than sustained upward momentum.
3. Ongoing Capital Expenditure Programs and Renovation Impact: Host Hotels is continuing its substantial capital investment strategy, having reinvested approximately $2.1 billion into comprehensive renovations across 34 hotels. While these programs are designed to enhance future performance and are expected to contribute 60% of hotel EBITDA in fiscal 2026, ongoing large-scale renovations, such as the Manchester Grand Hyatt San Diego project extending until fiscal Q1 2027, create a temporary drag on earnings. The long-term nature of these projects, with the full renovation program not completing until 2029, implies a sustained investment horizon that may temper short-term growth expectations.
4. Analyst Consensus Reflects Moderate Upside: While analysts generally maintain a "Moderate Buy" or "Buy" rating for Host Hotels & Resorts, the average 1-year price target is in the range of $24.33 to $25.07. This represents a modest upside of approximately 8% to 9% from the stock's trading levels during the specified period. The market's perception of the stock as fairly valued, despite positive company-specific developments and a healthy industry outlook, may have limited significant price appreciation.
Show less
Stock Movement Drivers
Fundamental Drivers
The -0.4% change in HST stock from 5/31/2026 to 9/6/2026 was primarily driven by a -2.3% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9062026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.14 | 22.05 | -0.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,165 | 6,219 | 0.9% |
| Net Income Margin (%) | 16.4% | 16.5% | 0.7% |
| P/E Multiple | 15.1 | 14.7 | -2.3% |
| Shares Outstanding (Mil) | 688 | 685 | 0.4% |
| Cumulative Contribution | -0.4% |
Market Drivers
5/31/2026 to 9/6/2026| Return | Correlation | |
|---|---|---|
| HST | -0.4% | |
| Market (SPY) | 1.8% | 16.0% |
| Sector (XLRE) | -0.1% | 40.5% |
Fundamental Drivers
The 18.1% change in HST stock from 2/28/2026 to 9/6/2026 was primarily driven by a 32.0% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9062026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.67 | 22.05 | 18.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6,114 | 6,219 | 1.7% |
| Net Income Margin (%) | 12.5% | 16.5% | 32.0% |
| P/E Multiple | 16.8 | 14.7 | -12.4% |
| Shares Outstanding (Mil) | 688 | 685 | 0.4% |
| Cumulative Contribution | 18.1% |
Market Drivers
2/28/2026 to 9/6/2026| Return | Correlation | |
|---|---|---|
| HST | 18.1% | |
| Market (SPY) | 12.6% | 38.3% |
| Sector (XLRE) | 0.9% | 47.5% |
Fundamental Drivers
The 38.6% change in HST stock from 8/31/2025 to 9/6/2026 was primarily driven by a 48.5% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9062026 | Change |
|---|---|---|---|
| Stock Price ($) | 15.91 | 22.05 | 38.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,927 | 6,219 | 4.9% |
| Net Income Margin (%) | 11.1% | 16.5% | 48.5% |
| P/E Multiple | 16.7 | 14.7 | -12.0% |
| Shares Outstanding (Mil) | 692 | 685 | 1.1% |
| Cumulative Contribution | 38.6% |
Market Drivers
8/31/2025 to 9/6/2026| Return | Correlation | |
|---|---|---|
| HST | 38.6% | |
| Market (SPY) | 20.4% | 36.2% |
| Sector (XLRE) | 6.5% | 44.3% |
Fundamental Drivers
The 68.6% change in HST stock from 8/31/2023 to 9/6/2026 was primarily driven by a 19.8% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9062026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.08 | 22.05 | 68.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,226 | 6,219 | 19.0% |
| Net Income Margin (%) | 14.5% | 16.5% | 13.9% |
| P/E Multiple | 12.3 | 14.7 | 19.8% |
| Shares Outstanding (Mil) | 711 | 685 | 3.9% |
| Cumulative Contribution | 68.6% |
Market Drivers
8/31/2023 to 9/6/2026| Return | Correlation | |
|---|---|---|
| HST | 68.6% | |
| Market (SPY) | 77.1% | 58.3% |
| Sector (XLRE) | 30.3% | 52.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HST Return | 19% | -5% | 28% | -5% | 7% | 30% | 91% |
| Peers Return | 17% | -23% | 28% | -0% | -11% | 40% | 42% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| HST Win Rate | 50% | 50% | 58% | 50% | 58% | 78% | |
| Peers Win Rate | 52% | 42% | 53% | 40% | 43% | 64% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
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 9/4/2026 (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.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| 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 | 389.7% | 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.
AI Analysis | Feedback
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.
AI Analysis | Feedback
- 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.
AI Analysis | Feedback
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)
AI Analysis | Feedback
- Marriott International, Inc. (MAR)
- Hyatt Hotels Corporation (H)
- Hilton Worldwide Holdings Inc. (HLT)
- Accor S.A. (ACCYY)
AI Analysis | Feedback
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.
AI Analysis | Feedback
- 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.
AI Analysis | Feedback
AI Analysis | Feedback
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.
AI Analysis | Feedback
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.
AI Analysis | Feedback
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 | 14 | 19.5% | 60.9% | 61.7% | WELL 213% · CTRE 126% · DHC 120% |
| Retail REITs | 22 | 11.3% | 38.5% | 36.4% | IVT 1599% · SKT 168% · SPG 103% |
| Real Estate Development | 6 | -9.2% | 15.1% | 20.6% | JOE 55% · AXR 44% · FOR 37% |
| Other Specialized REITs | 11 | 5.3% | 22.6% | 17.0% | IRM 193% · LAMR 69% · EPR 68% |
| Hotel & Resort REITs ← | 16 | 28.6% | 28.9% | 5.0% | RHP 78% · HST 72% · DRH 54% |
| Industrial REITs | 11 | 15.0% | 18.2% | 3.8% | FR 28% · EGP 27% · PLD 15% |
| Diversified REITs | 12 | 9.7% | 28.3% | -6.3% | CTO 71% · WPC 21% · LXP 14% |
| Multi-Family Residential REITs | 13 | -4.9% | 5.0% | -17.5% | AIV 17% · ESS 2% · IRT -5% |
| Single-Family Residential REITs | 4 | -2.0% | 1.0% | -17.9% | AMH -10% · ELS -17% · INVH -19% |
| Real Estate Services | 27 | -16.9% | -7.8% | -25.0% | REAX 853% · MDRR 577% · CHCI 281% |
| Office REITs | 18 | -7.3% | 18.5% | -27.9% | PSTL 62% · CDP 54% · SLG 9% |
| Telecom Tower REITs | 3 | -7.9% | -8.9% | -43.6% | AMT -31% · SBAC -44% · CCI -51% |
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 16.64 |
| Mkt Cap | 2.8 |
| 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 | 2.8 |
| P/S | 2.1 |
| P/Op Inc | 15.6 |
| P/EBIT | 17.1 |
| P/E | 15.4 |
| P/CFO | 9.8 |
| Total Yield | 7.0% |
| Dividend Yield | 4.0% |
| FCF Yield 3Y Avg | 6.8% |
| D/E | 0.5 |
| Net D/E | 0.5 |
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 | $22.05 | |
| Market Cap ($ Bil) | 15.1 | |
| First Trading Date | 04/06/1983 | |
| Distance from 52W High | -13.7% | |
| 50 Days | 200 Days | |
| DMA Price | $23.46 | $20.23 |
| DMA Trend | up | up |
| Distance from DMA | -6.0% | 9.0% |
| 3M | 1YR | |
| Volatility | 24.8% | 24.8% |
| Downside Capture | 128.27 | 60.56 |
| Upside Capture | 69.50 | 84.12 |
| Correlation (SPY) | 16.3% | 36.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.33 | 0.26 | 0.29 | 0.69 | 0.70 | 1.00 |
| Up Beta | -0.10 | -1.05 | -0.84 | 0.40 | 0.65 | 1.05 |
| Down Beta | -3.51 | -0.89 | -0.37 | 0.52 | 0.67 | 0.89 |
| Up Capture | -18% | 72% | 89% | 91% | 80% | 102% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 6 | 20 | 33 | 65 | 128 | 388 |
| Down Capture | 321% | 152% | 101% | 81% | 69% | 101% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 15 | 21 | 30 | 60 | 119 | 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 | 35.8% | 24.7% | 1.19 | - |
| Sector ETF (XLRE) | 7.9% | 14.0% | 0.31 | 44.1% |
| Equity (SPY) | 19.7% | 12.8% | 1.13 | 35.9% |
| Gold (GLD) | 24.6% | 29.2% | 0.75 | 13.9% |
| Commodities (DBC) | 43.8% | 20.3% | 1.67 | -18.1% |
| Real Estate (VNQ) | 9.1% | 13.6% | 0.39 | 47.3% |
| Bitcoin (BTCUSD) | -28.1% | 43.8% | -0.63 | 14.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HST | |
|---|---|---|---|---|
| HST | 11.3% | 30.0% | 0.38 | - |
| Sector ETF (XLRE) | 1.9% | 19.2% | -0.00 | 53.1% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 61.1% |
| Gold (GLD) | 19.1% | 18.8% | 0.82 | 6.5% |
| Commodities (DBC) | 10.7% | 19.5% | 0.43 | 14.4% |
| Real Estate (VNQ) | 1.7% | 18.9% | -0.01 | 57.6% |
| Bitcoin (BTCUSD) | 10.2% | 52.6% | 0.38 | 28.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HST | |
|---|---|---|---|---|
| HST | 6.3% | 34.0% | 0.26 | - |
| Sector ETF (XLRE) | 6.2% | 20.4% | 0.26 | 54.4% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 57.9% |
| Gold (GLD) | 12.4% | 16.3% | 0.62 | -0.8% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 22.1% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 60.3% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 17.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/7/2026| 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 | 2.12 | 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 | 1.36 | 1.38 | 2.2% | Raised | Guidance: 1.33 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 | 391 | ||||
| 2026 Comparable hotel RevPAR | Reported | 230 | 232 | 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 | 1.33 | 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 8/25/2026| # | 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 Sep 7, 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 |
Prefer one of these to Trefis? Tell us why.