Zacks Investment Research Lowers Hospitality Properties Trust (HPT) to Hold
Hospitality Properties Trust (NYSE:HPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Hospitality Properties Trust is a real estate investment trust. The company owns and leases hotels to unaffiliated hotel operators. The company’s principal strategy is to expand its investments in hotels and to set minimum rents which produce income in excess of the company’s cost of raising capital. The company seeks to provide capital to unaffiliated hotel operators who wish to divest their properties while remaining in the hotel business as tenants and in doing so, ensure stability of cash flow through dependable and diversified revenue sources. “
A number of other brokerages also recently issued reports on HPT. Janney Montgomery Scott started coverage on shares of Hospitality Properties Trust in a research report on Tuesday, October 18th. They set a “buy” rating and a $31.00 price objective for the company. Canaccord Genuity restated a “hold” rating and set a $33.00 target price on shares of Hospitality Properties Trust in a research note on Wednesday, August 10th. Finally, FBR & Co cut shares of Hospitality Properties Trust from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $31.00 to $32.00 in a research note on Wednesday, August 10th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Hospitality Properties Trust currently has an average rating of “Hold” and an average price target of $30.57.
Hospitality Properties Trust (NYSE:HPT) opened at 28.74 on Monday. The stock’s 50 day moving average price is $28.24 and its 200-day moving average price is $28.62. Hospitality Properties Trust has a 52 week low of $20.69 and a 52 week high of $32.32.
Hospitality Properties Trust (NYSE:HPT) last issued its quarterly earnings data on Wednesday, November 9th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by $0.01. The firm had revenue of $543.52 million for the quarter, compared to analysts’ expectations of $549.70 million. During the same period last year, the firm posted $0.99 earnings per share. Hospitality Properties Trust’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts predict that Hospitality Properties Trust will post $3.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Friday, October 21st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 7.10%. The ex-dividend date is Wednesday, October 19th. Hospitality Properties Trust’s payout ratio is currently 196.16%.
Hedge funds have recently made changes to their positions in the company. Acrospire Investment Management LLC boosted its stake in shares of Hospitality Properties Trust by 35.3% in the third quarter. Acrospire Investment Management LLC now owns 3,450 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 900 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Hospitality Properties Trust during the third quarter valued at approximately $117,000. Winslow Evans & Crocker Inc. boosted its stake in shares of Hospitality Properties Trust by 14.2% in the third quarter. Winslow Evans & Crocker Inc. now owns 4,032 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 500 shares during the last quarter. RS Investment Management Co. LLC bought a new stake in shares of Hospitality Properties Trust during the second quarter valued at approximately $131,000. Finally, Independent Portfolio Consultants Inc. boosted its stake in shares of Hospitality Properties Trust by 0.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,240 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 15 shares during the last quarter.
About Hospitality Properties Trust
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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