Xenia Hotels & Resorts falls after BMO cuts to 'market perform' - XHR News | RalliesXenia Hotels & Resorts falls after BMO cuts to 'market perform'
X
XHR• BMO cuts rating and target on Xenia Hotels & Resorts
- Shares of luxury lodging REIT Xenia Hotels & Resorts
XHR.N were down nearly 2% at $18.44 in premarket trading.
- BMO downgraded the rating to "market perform" from "outperform" and cut the price target to $20.50 from $22.
- The new price target still implies an upside of 9.3% from the stock's last close.
- The brokerage said the company's higher expenses remain a headwind, reducing the flow-through from stronger RevPAR growth.
- XHR's margins are expected to fall about 35 basis points in 2027, BMO said.
- Three of six brokerages rate the stock "buy" or higher, three "hold"; their median target price is $21, according to data compiled by LSEG.
- As of the last close, the stock had risen 32.6% year to date.
