Wednesday, July 5, 2023
North America

Analysts Become Modestly Less Bullish on U.S. Hotel Companies

  • Stock market indices, including the DJIA, Nasdaq, and S&P 500, experienced declines on Friday, while the 10-year treasury yield saw a slight increase.
  • Barclays expects some REITs, such as Pebblebrook Hotel Trust and DiamondRock, to be disproportionately impacted by below-expectation revenue per available room (RevPAR), while they believe Apple Hospitality will outperform.
  • Oppenheimer slashed price targets on several lodging stocks, including Chatham Lodging Trust, RLJ Lodging Trust, Braemar, and Apple Hospitality, while maintaining their Outperform ratings on these companies.

The DJIA fell 0.37% on Friday while Nasdaq was down 0.18%, the S&P 500dropped 0.20%, and the 10-year treasury yield was up .07 to 3.93%. The Dow Jones U.S. Hotels Index was down 1.3% for the year but was still up 8.6% year-to-date.The Federal Reserve was split on whether the U.S. will avoid a recession this year, the WSJ said. Barclays said with headline […]