Hospitality Properties Trust (NYSE:HPT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday.
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. “
Several other equities analysts also recently issued reports on the stock. Canaccord Genuity reissued a “hold” rating and set a $33.00 price target on shares of Hospitality Properties Trust in a report on Tuesday, August 16th. FBR & Co downgraded shares of Hospitality Properties Trust from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $31.00 to $32.00 in a report on Wednesday, August 10th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $29.50.
Shares of Hospitality Properties Trust (NYSE:HPT) opened at 28.87 on Tuesday. The company has a 50-day moving average of $29.50 and a 200-day moving average of $28.39. Hospitality Properties Trust has a 52 week low of $20.69 and a 52 week high of $32.32. The firm has a market capitalization of $4.38 billion, a PE ratio of 33.85 and a beta of 1.11.
Hospitality Properties Trust (NYSE:HPT) last announced its quarterly earnings results on Tuesday, August 9th. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.04. The firm had revenue of $550.30 million for the quarter, compared to analyst estimates of $544 million. During the same period last year, the firm posted $0.99 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that Hospitality Properties Trust will post $3.60 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Friday, October 21st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date of this dividend is Wednesday, October 19th. Hospitality Properties Trust’s dividend payout ratio is currently 196.16%.
Several large investors have recently modified their holdings of HPT. Capstone Asset Management Co. boosted its stake in shares of Hospitality Properties Trust by 6.6% in the third quarter. Capstone Asset Management Co. now owns 12,195 shares of the real estate investment trust’s stock worth $362,000 after buying an additional 750 shares in the last quarter. Creative Planning boosted its stake in shares of Hospitality Properties Trust by 81.4% in the third quarter. Creative Planning now owns 11,607 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 5,207 shares during the period. Naples Global Advisors LLC boosted its stake in shares of Hospitality Properties Trust by 0.3% in the third quarter. Naples Global Advisors LLC now owns 33,147 shares of the real estate investment trust’s stock valued at $985,000 after buying an additional 100 shares during the period. Eqis Capital Management Inc. acquired a new stake in shares of Hospitality Properties Trust during the third quarter valued at approximately $436,000. Finally, Macquarie Group Ltd. boosted its stake in shares of Hospitality Properties Trust by 0.9% in the second quarter. Macquarie Group Ltd. now owns 158,300 shares of the real estate investment trust’s stock valued at $4,559,000 after buying an additional 1,400 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.