Evergreen Capital Reduces Stake in Wyndham Hotels by 4.2%
Evergreen Capital Management LLC has reduced its holdings in Wyndham Hotels & Resorts (NYSE: WH) by 4.2% during the first quarter of 2023. According to the firm’s latest disclosure with the Securities and Exchange Commission (SEC), Evergreen now owns 3,078 shares of the hotel chain after selling 135 shares in the period. The value of its holdings in Wyndham Hotels & Resorts stood at approximately $279,000 at the end of the recent reporting period.
A number of other institutional investors have also made adjustments to their stakes in Wyndham. Notably, Nuveen LLC acquired a new position valued at around $70.4 million in the same quarter. Additionally, Interval Partners LP and Balyasny Asset Management L.P. made new investments of approximately $31.99 million and $29.85 million, respectively, in the fourth quarter of 2022. Other firms, including Fiera Capital Corp and Long Pond Capital LP, also entered positions valued at $22.07 million and $21.10 million, respectively, during the first quarter of 2023. This indicates a strong trend among institutional investors, who now collectively own 93.46% of the company’s stock.
Current Stock Performance and Market Insights
As of the latest trading session, Wyndham Hotels & Resorts shares opened at $86.00, reflecting a slight decline of 0.4%. The stock has fluctuated within a range, reaching a fifty-two week low of $75.91 and a high of $113.07. The company currently has a market capitalization of $6.57 billion and exhibits a price-to-earnings (P/E) ratio of 20.09. Furthermore, Wyndham’s debt-to-equity ratio is reported at 4.44, with both current and quick ratios at 1.03. The fifty-day moving average price is $86.61, while the two-hundred day moving average is $87.92.
Dividend Announcement and Analyst Opinions
Wyndham Hotels & Resorts has announced a quarterly dividend of $0.41 per share, set to be paid on September 30, 2023. Shareholders of record as of September 15 will receive this distribution, reflecting an annualized dividend of $1.64 and a yield of 1.9%. The firm’s payout ratio is currently 38.32%, indicating a sustainable dividend policy.
Wall Street analysts have expressed positive sentiment regarding Wyndham’s stock. In a recent research report, Morgan Stanley reaffirmed an “overweight” rating with a price target of $105.00. Robert W. Baird upgraded their price target from $98.00 to $99.00 while maintaining an “outperform” rating. Other firms, including JPMorgan Chase & Co. and Barclays, have initiated coverage with similar positive ratings and price objectives ranging from $101.00 to $106.98.
Overall, the stock has garnered a consensus rating of “Moderate Buy” from eleven investment analysts, indicating a generally favorable outlook for Wyndham Hotels & Resorts.
Wyndham Hotels & Resorts, Inc. specializes in the franchise and operation of hotels under the Wyndham brand. The company operates predominantly through its Hotel Franchising and Hotel Management segments, focusing on licensing its lodging brands and providing services to third-party hotel owners.
