FelCor Lodging Trust Inc. (FCH) Downgraded by Zacks Investment Research to “Sell”
According to Zacks, “FelCor Lodging Trust Inc., a real estate investment trust, is one of the nation’s largest owners of upper-upscale, all-suite hotels. FelCor’s diversified portfolio of hotels and resorts are flagged under global brands such as: Doubletree ®, Embassy Suites Hotels®, Hilton®, Fairmont®, Marriott®, Renaissance®, Sheraton®, Westin® and Holiday Inn®. FelCor Lodging Trust Inc., formerly known as FelCor Suite Hotels, Inc., is based in Irving, Texas. “
A number of other brokerages have also recently weighed in on FCH. Janney Montgomery Scott began coverage on shares of FelCor Lodging Trust in a research note on Monday, September 26th. They set a buy rating and a $7.50 price objective on the stock. JMP Securities cut shares of FelCor Lodging Trust from an outperform rating to a market perform rating in a research note on Friday, September 16th. Finally, Deutsche Bank AG restated a hold rating and set a $8.00 price objective on shares of FelCor Lodging Trust in a research note on Monday, June 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. FelCor Lodging Trust currently has an average rating of Hold and a consensus price target of $7.90.
FelCor Lodging Trust (NYSE:FCH) traded up 1.89% during midday trading on Tuesday, hitting $6.47. 53,920 shares of the company’s stock traded hands. The company’s market capitalization is $894.24 million. The company has a 50 day moving average of $6.57 and a 200-day moving average of $6.78. FelCor Lodging Trust has a 52 week low of $5.47 and a 52 week high of $8.63.
FelCor Lodging Trust (NYSE:FCH) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. FelCor Lodging Trust had a negative net margin of 0.44% and a negative return on equity of 151.76%. The company had revenue of $237.90 million for the quarter, compared to the consensus estimate of $240.19 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. FelCor Lodging Trust’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities research analysts predict that FelCor Lodging Trust will post $0.90 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 14th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.24 dividend on an annualized basis and a yield of 3.74%. FelCor Lodging Trust’s dividend payout ratio is currently -120.00%.
A number of institutional investors have recently modified their holdings of FCH. Vanguard Group Inc. boosted its position in shares of FelCor Lodging Trust by 0.7% in the second quarter. Vanguard Group Inc. now owns 20,248,146 shares of the company’s stock worth $126,145,000 after buying an additional 141,366 shares in the last quarter. Land & Buildings Investment Management LLC boosted its position in shares of FelCor Lodging Trust by 79.2% in the first quarter. Land & Buildings Investment Management LLC now owns 5,441,369 shares of the company’s stock worth $44,184,000 after buying an additional 2,404,588 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of FelCor Lodging Trust by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,227,653 shares of the company’s stock worth $42,449,000 after buying an additional 79,092 shares in the last quarter. Real Estate Management Services LLC boosted its position in shares of FelCor Lodging Trust by 21.2% in the second quarter. Real Estate Management Services LLC now owns 4,407,500 shares of the company’s stock worth $27,459,000 after buying an additional 770,800 shares in the last quarter. Finally, State Street Corp boosted its position in shares of FelCor Lodging Trust by 2.2% in the first quarter. State Street Corp now owns 4,223,167 shares of the company’s stock worth $34,296,000 after buying an additional 91,498 shares in the last quarter. 81.01% of the stock is currently owned by hedge funds and other institutional investors.
About FelCor Lodging Trust
FelCor Lodging Trust Incorporated is a real estate investment trust. The Company, through its subsidiary, FelCor Lodging Limited Partnership, holds ownership interests in approximately 40 hotels with over 12,440 rooms. The Company sells, acquires, rebrands and redevelops hotels. The Company’s hotels are located in approximately 20 states of the United States.
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