UPDATE: Morgan Stanley Downgrades Host Hotels & Resorts to Equal-Weight

According to Morgan Stanley, Host Hotels & Resorts

is downgraded to Equal-Weight. Morgan Stanley said that given lagging group rates and muted margin gains, it believes the potential for positive estimate revisions and multiple expansion, the keys for continued stock outperformance, is low. “Our revised 2012 estimates are now 2% below cons.” Host Hotels & Resorts closed on Friday at $16.40.