-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點摘要如下：我們將目標價上調2美元至23美元，基於2026年FFO（營運資金）預期，遠期本益比（P/FFO）為10.9倍，高於同業及HST三年遠期平均（8.9倍）。這主要得益於2026年更強勁的旅遊前景以及近期翻新的物業推動了今年平均每間可供出租客房收入（RevPAR）的成長。我們將2026年FFO預期上調0.05美元至2.11美元，維持2027年預期不變，仍為2.15美元。舊金山旅遊業在超級盃的推動下實現了顯著復甦，商務旅行的加速成長也帶動了復甦，而佛羅裡達州/鳳凰城的度假村在第一季的業績也優於往年同期水平。夏威夷和東海岸的天氣相關幹擾導致第一季每間可供出租客房收入（RevPAR）下降了120個基點，而2026年下半年的成長預期意味著增速將放緩至1%-2%的區間。生產力的提高在一定程度上抵銷了薪資較去年同期的成長，但成本上漲仍是我們持續關注的風險。目前我們預計不會有任何收購計劃，管理層設定了較高的內部收益率（IRR）目標，並傾向於股票回購和發放特別股息。
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