BUZZ-J.P. Morgan upgrades, raises PTs on lodging REITs
Reuters · 12/14/2023 13:39
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** Brokerage J.P. Morgan upgrades and raises PTs for several real estate investment trusts (REITs) focused on hotel properties
** Lifts ratings to "" 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)
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