FBR & Co Upgrades Hospitality Properties Trust (HPT) to Outperform
Hospitality Properties Trust (NYSE:HPT) was upgraded by equities research analysts at FBR & Co from a “market perform” rating to an “outperform” rating in a research note issued to investors on Friday. The firm presently has a $33.00 price target on the real estate investment trust’s stock. FBR & Co’s target price would suggest a potential upside of 14.82% from the stock’s current price.
HPT has been the subject of a number of other reports. Canaccord Genuity restated a “hold” rating and issued a $33.00 price target on shares of Hospitality Properties Trust in a report on Tuesday, August 16th. Zacks Investment Research upgraded shares of Hospitality Properties Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 11th. Finally, Janney Montgomery Scott began coverage on shares of Hospitality Properties Trust in a report on Tuesday, October 18th. They issued a “buy” rating and a $31.00 price target for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $30.57.
Hospitality Properties Trust (NYSE:HPT) opened at 28.74 on Friday. The stock’s 50 day moving average is $0.00 and its 200 day moving average is $0.00. Hospitality Properties Trust has a 1-year low of $20.69 and a 1-year high of $32.32.
Hospitality Properties Trust (NYSE:HPT) last posted its quarterly earnings results on Wednesday, November 9th. The real estate investment trust reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $543.52 million for the quarter, compared to analyst estimates of $549.70 million. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.99 EPS. Equities research analysts forecast that Hospitality Properties Trust will post $3.53 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Friday, October 21st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date of this dividend is Wednesday, October 19th. Hospitality Properties Trust’s payout ratio is currently 196.16%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HPT. Kemper Corp Master Retirement Trust increased its stake in Hospitality Properties Trust by 13.2% in the third quarter. Kemper Corp Master Retirement Trust now owns 8,550 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 1,000 shares during the period. Panagora Asset Management Inc. increased its stake in Hospitality Properties Trust by 11.7% in the third quarter. Panagora Asset Management Inc. now owns 189,312 shares of the real estate investment trust’s stock worth $5,626,000 after buying an additional 19,756 shares during the period. Moors & Cabot Inc. increased its stake in Hospitality Properties Trust by 25.1% in the third quarter. Moors & Cabot Inc. now owns 18,225 shares of the real estate investment trust’s stock worth $543,000 after buying an additional 3,654 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Hospitality Properties Trust during the third quarter worth about $6,670,000. Finally, UBS Group AG increased its stake in Hospitality Properties Trust by 0.5% in the third quarter. UBS Group AG now owns 403,678 shares of the real estate investment trust’s stock worth $11,997,000 after buying an additional 1,855 shares during the period.
Hospitality Properties Trust Company Profile
Hospitality Properties Trust is a real estate investment trust. The Company owns approximately 300 hotels with over 45,860 rooms or suites, and approximately 190 travel centers. The Company’s segments include hotel investments, travel center investments and corporate. The Company’s properties are located in approximately 50 states in the United States, Canada and Puerto Rico.
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