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Host Hotels & Resorts
(NASDAQ:HST)
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Rating:79Outperform
Price Target:
$29.00
â–²(18.37% Upside)
Action:Reiterated
Date:08/06/26
HST scores well primarily due to strong technical uptrend and a positive earnings update featuring raised 2026 RevPAR/EBITDA guidance and expected margin expansion. Financial performance is solid with strong cash generation, but the score is tempered by historical volatility in margins/free cash flow and higher reinvestment/reconstruction spending that can create near-term variability. Valuation is reasonable with a supportive dividend yield, though not a clear deep-value setup.
Positive Factors
Strong cash generation
Consistent trailing‑12‑month operating cash flow (~$1.54B) and FCF (~$1.05B) provide durable funding for dividends, renovations and debt service. Reliable FCF underpins reinvestment programs and capital returns, supporting long‑term asset value and financial flexibility.
Negative Factors
Elevated near‑term capital spend
Substantial ongoing reinvestment and storm‑reconstruction commitments will meaningfully consume free cash flow in the coming years. High sustained capex needs increase earnings variability and reduce discretionary capacity for acquisitions or larger shareholder returns in downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent trailing‑12‑month operating cash flow (~$1.54B) and FCF (~$1.05B) provide durable funding for dividends, renovations and debt service. Reliable FCF underpins reinvestment programs and capital returns, supporting long‑term asset value and financial flexibility.
Read all positive factors
Host Hotels & Resorts Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down revenue by different business segments, highlighting which areas are driving growth and which may need strategic adjustments.
Breaks down revenue by different business segments, highlighting which areas are driving growth and which may need strategic adjustments.
Data provided by:
The Fly
The FlyHost Hotels & Resorts (HST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$17.21B
Dividend Yield3.64%
Average Volume (3M)9.12M
Price to Earnings (P/E)17.3
Beta (1Y)0.78
Revenue Growth6.16%
EPS Growth51.96%
CountryUS
Employees162
SectorReal Estate
Sector Strength53
IndustryREIT - Hotel & Motel
Share Statistics
EPS (TTM)1.45
Shares Outstanding684,879,300
10 Day Avg. Volume8,581,211
30 Day Avg. Volume9,117,806
Financial Highlights & Ratios
PEG Ratio1.45
Price to Book (P/B)1.87
Price to Sales (P/S)2.01
P/FCF Ratio14.31
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$25.21Price Target Upside2.92% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)1.36
Revenue Forecast (FY)$6.14B
Host Hotels & Resorts Business Overview & Revenue Model
Company Description
Host Hotels & Resorts, Inc., a distinguished member of the S&P 500 index, stands as the world's foremost lodging real estate investment trust (REIT) and a leading proprietor of luxury and upper-upscale hotel properties. The company boasts an exten...
How the Company Makes Money
Host Hotels & Resorts makes money primarily by earning property-level cash flows from the hotels and resorts it owns. Its core revenue model is based on (1) hotel operating revenue generated at each property—most importantly room revenue from nigh...
Host Hotels & Resorts Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call portrayed a strong operational quarter with multiple upside drivers: beats on EBITDA and FFO, RevPAR and margin expansion, raised full-year guidance, successful transformational capital programs, robust resort and Maui recoveries, and disciplined capital returns. Lowlights were largely timing- and event-related: incentive fees and higher commissions compressed near-term flow-through, condo closing timing reduced 2026 condo EBITDA, and sizable reinvestment and storm-driven reconstruction add near-term spend. Overall, the positives (organic growth, margin improvement, guidance raise, capital returns and balance sheet flexibility) materially outweigh the limited and largely manageable negatives.Positive Updates
Strong Q2 Operating & Earnings Beat
Adjusted EBITDAre of $525 million, up 5.8% year-over-year; adjusted FFO per share $0.63, up 8.6% year-over-year. Comparable hotel RevPAR +7% and comparable hotel total RevPAR +5.9% driven by rate growth and higher F&B revenue.
Negative Updates
Flow-Through Pressure from Incentive Fees and Commissions
Flow-through of RevPAR to EBITDA in Q2 was less than expected due partly to incentive management fees (IMF) triggered at outperforming properties and higher travel agent commissions tied to short-window World Cup bookings; management expects some of this to abate in H2.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Q2 Operating & Earnings Beat
Adjusted EBITDAre of $525 million, up 5.8% year-over-year; adjusted FFO per share $0.63, up 8.6% year-over-year. Comparable hotel RevPAR +7% and comparable hotel total RevPAR +5.9% driven by rate growth and higher F&B revenue.
Read all positive updates
Company Guidance
Host raised its 2026 comparable hotel RevPAR and total RevPAR guidance to 4.75%–5.25% (midpoint ~5%, a 125‑bp raise), expects July comparable RevPAR ≈ +10% YoY and mid‑single‑digit RevPAR in H2, and estimates the World Cup added ~160 bps in Q2 and ~70 bps for the full year (special events net +50 bps FY). At the midpoint management now models comparable hotel EBITDA margin of 29.7% (up 50 bps YoY; guidance range +40–50 bps) and a full‑year adjusted EBITDAre midpoint of $1.83 billion (up ~$20M vs. prior), which includes ~$29M Don CeSar operations, ~$7M of business‑interruption proceeds and $16–20M of 4 Seasons condo EBITDA. Capital spending is guided to ~$550M–$630M (including $250M–$285M reinvestment, ~$25M–$30M Kona reconstruction, ~$2M remediation and ~$17M condo close‑out), Host expects ~$19M of operating‑profit guarantees in 2026 (received $5M in Q2), wage‑rate inflation of ~5% (≈50% of comparable hotel opex), an insurance renewal down 6% (≈$2.5M benefit), Maui to contribute ~45 bps to full‑year RevPAR and ~$120M of EBITDA in 2026, and a balance‑sheet with ~4.7‑year weighted average maturity at ~4.8% rate, ~ $1.5B revolver availability and leverage ~2.2x after the July dividends.Host Hotels & Resorts Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
73
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.17B | 6.11B | 5.68B | 5.31B | 4.91B | 2.89B |
| Gross Profit | 1.71B | 160.00M | 3.03B | 2.85B | 2.71B | 1.49B |
| EBITDA | 2.11B | 1.85B | 1.70B | 1.67B | 1.49B | 851.00M |
| Net Income | 1.01B | 765.00M | 697.00M | 740.00M | 633.00M | -11.00M |
Balance Sheet | ||||||
| Total Assets | 13.15B | 13.05B | 13.05B | 12.24B | 12.27B | 12.35B |
| Cash, Cash Equivalents and Short-Term Investments | 1.70B | 768.00M | 554.00M | 1.14B | 667.00M | 807.00M |
| Total Debt | 5.64B | 5.64B | 5.64B | 4.77B | 4.78B | 5.46B |
| Total Liabilities | 6.14B | 6.32B | 6.27B | 5.42B | 5.39B | 5.78B |
| Stockholders Equity | 6.83B | 6.56B | 6.61B | 6.63B | 6.71B | 6.44B |
Cash Flow | ||||||
| Free Cash Flow | 923.00M | 858.00M | 950.00M | 795.00M | 912.00M | -135.00M |
| Operating Cash Flow | 1.54B | 1.50B | 1.50B | 1.44B | 1.42B | 292.00M |
| Investing Cash Flow | 490.00M | -507.00M | -2.04B | -183.00M | -618.00M | -1.16B |
| Financing Cash Flow | -874.00M | -860.00M | -13.00M | -771.00M | -874.00M | -657.00M |
Host Hotels & Resorts Technical Analysis
Positive
24.50
Price Trends
23.78
Positive
21.72
Positive
19.47
Positive
Market Momentum
0.49
Negative
62.88
Neutral
64.10
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HST, the sentiment is Positive. The current price of 24.5 is above the 20-day moving average (MA) of 24.35, above the 50-day MA of 23.78, and above the 200-day MA of 19.47, indicating a bullish trend. The MACD of 0.49 indicates Negative momentum. The RSI at 62.88 is Neutral, neither overbought nor oversold. The STOCH value of 64.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HST.
Host Hotels & Resorts Risk Analysis
Host Hotels & Resorts disclosed 33 risk factors in its most recent earnings report. Host Hotels & Resorts reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Host Hotels & Resorts Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $17.21B | 17.33 | 15.16% | 3.73% | 6.16% | 51.96% | |
77 Outperform | $3.90B | 22.62 | 5.43% | 5.72% | -0.51% | -8.63% | |
73 Outperform | $2.72B | 18.12 | 10.27% | 3.27% | 1.03% | 159.56% | |
72 Outperform | $8.43B | 33.25 | 33.00% | 3.57% | 10.68% | -17.54% | |
66 Neutral | $3.03B | -13.88 | -6.59% | 6.78% | -2.20% | -280.33% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $2.19B | 83.36 | 1.94% | 3.07% | 6.83% | 23.48% |
* Real Estate Sector Average
HST
Host Hotels & Resorts
23.38
9.27
65.72%
DRH
Diamondrock
12.64
5.25
71.04%
SHO
Sunstone Hotel
11.29
2.82
33.31%
RHP
Ryman
124.23
34.26
38.08%
APLE
Apple Hospitality REIT
15.99
5.07
46.47%
PK
Park Hotels & Resorts
14.35
4.89
51.64%
Host Hotels & Resorts Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Host Hotels Extends At-The-Market Equity Program Agreement
Neutral
May 28, 2026
On May 31, 2023, Host Hotels Resorts, Inc. entered into a distribution agreement with a syndicate of major banks and broker-dealers, allowing the company or designated forward sellers to offer and sell up to $600 million of its common stock from ...
Executive/Board ChangesShareholder Meetings
Host Hotels Shareholders Back Board, Auditor and Pay
Positive
May 22, 2026
Host Hotels Resorts, Inc. held its annual meeting of stockholders on May 20, 2026, where shareholders voted on director elections, auditor ratification, and executive pay. Stockholders elected nine directors, including CEO James F. Risoleo and Ch...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.