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Host Hotels & Resorts, Inc.

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Host Hotels disclosed third-quarter 2015 adjusted FFO per share of $0.34, exceeding the Zacks Consensus Estimate of $0.32 and reflecting improvements in the average room rate and occupancy. The company also announced an additional $500 million share repurchase authorization. It is currently focused on strategic asset repositioning and rebranding initiatives. It has also commenced the execution of its exit strategy from the Asia-Pacific market. Going forward, we expect the company to gain from its solid portfolio of upscale hotels across lucrative markets, strategic capital recycling program and an improved balance sheet. Yet, asset dispositions would lead to near-term earnings dilution, while a strong U.S. dollar and any rise in interest rate would add to its woes.

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