J.P. Morgan upgrades, raises PTs on lodging REITs

Host Hotels & Resorts

14/12/2023 13:39

** Brokerage J.P. Morgan upgrades and raises PTs for several
real estate investment trusts (REITs) focused on hotel
properties
    ** Lifts ratings to "neutral" from "underweight" on Park
Hotels & Resorts  PK.N , Host Hotels & Resorts  HST.O  and
Sunstone Hotel Investors  SHO.N 
    ** Increases PTs: 
     Park Hotels & Resorts to $16 from $11 
     Host Hotels & Resorts to $18 from $15
     Sunstone Hotel Investors to $10 from $9
    ** Brokerage cites steady improvement in revenue per
available room (RevPAR) in the U.S. and flags lower "relative
downside" 

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))