Host Hotels & Resorts, Inc. logo HST - Host Hotels & Resorts, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 22
HOLD 18
SELL 2
STRONG
SELL
0
| PRICE TARGET: $20.67 DETAILS
HIGH: $23.00
LOW: $18.00
MEDIAN: $20.50
CONSENSUS: $20.67
DOWNSIDE: 7.64%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Real Estate Investment Trust 85% confidence

Primary model: P/FFO × Default REIT Multiple

Valuation Signal Undervalued Strong
Trading 46.0% below fair value
Current Price $22.38
Bear Case $34.13 52.5% upside ($34.13 - $22.38) / $22.38 = 52.5% $2.28 FFO × 18x
Fair Value $41.44 85.2% upside ($41.44 - $22.38) / $22.38 = 85.2% $2.28 FFO × 22x
Bull Case $48.75 117.8% upside ($48.75 - $22.38) / $22.38 = 117.8% $2.28 FFO × 26x

Adjust Assumptions

22.1x
2.28$

Key Value Driver

FFO/share ($2.28) × default P/FFO multiple

Implied Market Multiple 9.8x

Plain-Language Summary

Our base-case estimate uses P/FFO × Default REIT Multiple. We then blend that result with the average analyst price target of $20.67 from 42 analysts, using a 30% weight on analyst consensus. That produces an estimated intrinsic value of $41.44 per share.

Warnings

Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.
Dividend yield of 7.5% is unusually high — make sure the company generates enough cash to keep paying it.
Wall Street's average price target is $20.67 (from 42 analysts). Our estimate is 144% above the consensus -- consider that gap carefully.

Key Risks

  • P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
  • Interest rate sensitivity: REIT multiples compress when rates rise
  • FFO approximation (NI + D&A) may include gains on property sales — verify