Host Hotels Earnings: HOST Stock Unmoved Despite Strong Q4
Host Hotels (NYSE:HST) released its quarterly earnings to the public and the company’s results were a touch above what analysts were calling for in the Wall Street consensus estimate, but shares were relatively unchanged after hours on Tuesday.
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The hotel operator, based out of Bethesda, Maryland, said that it brought in funds from operations that reached $315 million, which is a metric that helps to indicate the level of profitability of a business in the REIT sphere. This amounted to roughly 43 cents per share for the period for the company’s fourth quarter.
The figure was better than what Zacks Investment Research was guiding for as the average estimate of 10 analysts who were surveyed by the publication was for Host Hotels to amass funds from operations of 41 cents per share. The metric is an important one in the industry because it takes into account a combination of net income with the addition of back items, including depreciation and amortization.
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The company also said it had net income of $303 million for the period, or 41 cents per share. Host Hotels also said its revenue for the quarter amounted to $1.36 billion, below the Wall Street consensus estimate of $1.37 billion, per a survey of eight analysts that Zacks conducted.
HST stock was down about 0.6% on Tuesday during regular trading hours before the company reported for the quarter. After hours, shares were unmoved despite the company’s profit topping the guidance.
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