On 12 Nov 2026 our base value for Host Hotels & Resorts is $19.81 a share, 22.4% below its $25.52 close; 0 of 1 valuation methods put it above the price.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Exit multiple (P/E) | — | — | not used for REITs: depreciation of property makes earnings and free cash flow understate what a REIT earns; see price to FFO |
| Sum of the parts | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to sales | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Tangible book | — | — | not used for REITs: REITs are valued on funds from operations; see price to FFO |
| Price to FFO (REITs) | $19.81 | -22.4% | funds from operations $2.25 a share (FY2025) at its own 5-year median of 8.8× (today 11.4×) |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
| Fiscal year | Net income | Depreciation | FFO | Shares | FFO per share | Year-end close | P/FFO |
|---|---|---|---|---|---|---|---|
| 2021 | $-11.00m | $762.00m | $751.00m | 710.30m | $1.06 | $17.39 | 16.4× |
| 2022 | $643.00m | $664.00m | $1.31bn | 717.50m | $1.82 | $16.05 | 8.8× |
| 2023 | $752.00m | $697.00m | $1.45bn | 712.80m | $2.03 | $19.47 | 9.6× |
| 2024 | $697.00m | $762.00m | $1.46bn | 705.90m | $2.07 | $17.52 | 8.5× |
| 2025 | $765.00m | $795.00m | $1.56bn | 693.90m | $2.25 | $17.73 | 7.9× |
| Median P/FFO | 8.8× |
| Latest FFO per share (FY2025) | $2.25 |
| Value per share = median × latest FFO per share | $19.81 |
For a REIT the base value is the price-to-FFO value: $19.81 a share.
Bear $19.06 · Base $19.81 · Bull $21.53 (the REIT's own lower and upper quartile price-to-FFO)
One-year price simulation: a 62% chance the price is higher than today's $25.52 in a year, from 22.34% volatility. The simulation assumes the price drifts up at our discount rate of 9.59% a year.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $22.56 | $19.81 |
| 9 Oct 2026 | $22.65 | $19.81 |
| 16 Oct 2026 | $23.97 | $19.81 |
| 23 Oct 2026 | $24.72 | $19.81 |
| 30 Oct 2026 | $25.30 | $19.81 |
| 6 Nov 2026 | $24.62 | $19.81 |
| 12 Nov 2026 | $25.52 | $19.81 |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
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