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

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

Xenia Hotels & Resorts Stock Down 0.2%

Shares of NYSE:XHR opened at $12.22 on Friday. Xenia Hotels & Resorts has a 52 week low of $8.55 and a 52 week high of $16.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 2.20 and a current ratio of 2.20. The company’s fifty day moving average is $11.20 and its 200-day moving average is $13.59. The company has a market capitalization of $1.21 billion, a PE ratio of 53.13 and a beta of 1.60.

Xenia Hotels & Resorts (NYSE:XHR) last issued its earnings results on Friday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, beating the consensus estimate of $0.42 by $0.09. Xenia Hotels & Resorts had a net margin of 2.37% and a return on equity of 1.86%. The company had revenue of $288.93 million for the quarter, compared to the consensus estimate of $276.51 million. During the same quarter in the previous year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts predict that Xenia Hotels & Resorts will post 1.46 earnings per share for the current fiscal year.

Xenia Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.14 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.56 annualized dividend and a dividend yield of 4.58%. Xenia Hotels & Resorts’s dividend payout ratio is presently 254.55%.

Analyst Ratings Changes

XHR has been the topic of several analyst reports. KeyCorp lowered their price target 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. Morgan Stanley lowered their price target on shares of Xenia Hotels & Resorts from $11.00 to $9.00 and set an “underweight” rating on the stock in a report on Tuesday, April 22nd. StockNews.com raised shares of Xenia Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Monday, May 5th. Jefferies Financial Group lowered shares of Xenia Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their price target for the company from $18.00 to $10.00 in a report on Wednesday, April 9th. Finally, Wells Fargo & Company lowered their price target 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 given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.50.

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.