Latin American Hotel Construction Pipeline for Q2 2022
Skift Take
- Membership Collective Group shares took it on the chin today, announcing 2Q results on a day when investors were not in the mood for anything.
- Host Hotels’ price target was raised to $20 by Citigroup.
- Baird issued a bullish report on Apple Hospitality REIT but removed the Bullish Fresh Pick designation as shares have increased 18% since their positive call in late June.
The DJIA fell 172 points while Nasdaq was down 164, the S&P 500 fell 31 points and the 10 year treasury yield was up .07 to 2.89%. Lodging stocks were lower. SOND plunged -26%, while MCG was down -16%, VCSA was down -8% and AHT was down -6%. SOHO was up another 5%.
Membership Collective Group shares took it on the chin today, announcing 2Q results on a day when investors were not in the mood for anything. They cut their revenue and adjusted EBITDA forecast and the -20% drop in the stock was swift and brutal this morning. They recovered somewhat but was still down -16% by the close.
Host Hotels’ price target was raised to $20 by Citigroup.
Baird issued a bullish report on Apple Hospitality REIT but removed the Bullish Fresh Pick designation as shares have increased 18% since their positive call in late June. APLE announced an increase in their monthly dividend today. Their regular monthly
