Zacks: Brokerages Anticipate Hospitality Properties Trust (HPT) Will Post Quarterly Sales of $574.21 Million
Brokerages predict that Hospitality Properties Trust (NASDAQ:HPT) will report $574.21 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Hospitality Properties Trust’s earnings, with estimates ranging from $549.45 million to $583.77 million. Hospitality Properties Trust posted sales of $543.52 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The business is expected to announce its next earnings results on Wednesday, November 8th.
On average, analysts expect that Hospitality Properties Trust will report full year sales of $574.21 million for the current year, with estimates ranging from $2.09 billion to $2.16 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.23 billion per share, with estimates ranging from $2.10 billion to $2.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Hospitality Properties Trust.
Hospitality Properties Trust (NASDAQ:HPT) last issued its earnings results on Wednesday, August 9th. The real estate investment trust reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.03). The business had revenue of $570.60 million during the quarter, compared to the consensus estimate of $557.61 million. Hospitality Properties Trust had a return on equity of 7.53% and a net margin of 10.22%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share.
HPT has been the subject of several research analyst reports. Canaccord Genuity restated a “hold” rating and set a $30.00 price target (down previously from $32.00) on shares of Hospitality Properties Trust in a research report on Friday, August 11th. FBR & Co reiterated a “buy” rating and issued a $33.00 price objective (down previously from $35.00) on shares of Hospitality Properties Trust in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of Hospitality Properties Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Robert W. Baird set a $30.00 price target on shares of Hospitality Properties Trust and gave the stock a “hold” rating in a report on Tuesday. Finally, BidaskClub upgraded shares of Hospitality Properties Trust from a “sell” rating to a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Hospitality Properties Trust currently has a consensus rating of “Buy” and an average price target of $32.17.
Shares of Hospitality Properties Trust (HPT) remained flat at $29.27 during midday trading on Monday. The company had a trading volume of 498,123 shares. The company has a 50-day moving average price of $28.31 and a 200-day moving average price of $29.31. The stock has a market cap of $4.81 billion, a P/E ratio of 24.87 and a beta of 1.04. Hospitality Properties Trust has a 12-month low of $26.06 and a 12-month high of $32.68.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Monday, October 23rd will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 20th. This represents a $2.08 annualized dividend and a yield of 7.11%. Hospitality Properties Trust’s dividend payout ratio is currently 176.27%.
A number of large investors have recently made changes to their positions in HPT. UBS Asset Management Americas Inc. raised its stake in Hospitality Properties Trust by 20.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 361,470 shares of the real estate investment trust’s stock worth $11,397,000 after acquiring an additional 61,025 shares in the last quarter. Neuberger Berman Group LLC raised its stake in Hospitality Properties Trust by 30.9% during the 1st quarter. Neuberger Berman Group LLC now owns 10,241 shares of the real estate investment trust’s stock worth $323,000 after acquiring an additional 2,417 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Hospitality Properties Trust by 23.6% during the 1st quarter. OppenheimerFunds Inc. now owns 97,024 shares of the real estate investment trust’s stock worth $3,059,000 after acquiring an additional 18,553 shares in the last quarter. Wellington Management Group LLP raised its stake in Hospitality Properties Trust by 107.9% during the 1st quarter. Wellington Management Group LLP now owns 224,545 shares of the real estate investment trust’s stock worth $7,080,000 after acquiring an additional 116,543 shares in the last quarter. Finally, FMR LLC acquired a new stake in Hospitality Properties Trust during the 1st quarter worth $1,009,000. Hedge funds and other institutional investors own 76.26% of the company’s stock.
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Hospitality Properties Trust Company Profile
Hospitality Properties Trust is a real estate investment trust. The Company’s segments include hotel investments, travel center investments and corporate. As of December 31, 2016, the Company owned 306 hotels with 46,583 rooms or suites, and 198 travel centers. As of December 31, 2016, the Company’s properties were located in 45 states in the United States, Canada and Puerto Rico.
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