Hospitality Properties Trust (HPT) Downgraded by Zacks Investment Research to “Strong Sell”
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. “
A number of other analysts have also weighed in on the stock. Canaccord Genuity reaffirmed a “hold” rating and set a $33.00 target price on shares of Hospitality Properties Trust in a report on Tuesday, August 16th. FBR & Co lowered shares of Hospitality Properties Trust from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $31.00 to $32.00 in a report on Wednesday, August 10th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Hospitality Properties Trust has a consensus rating of “Hold” and an average price target of $29.50.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/hospitality-properties-trust-hpt-downgraded-by-zacks-investment-research-to-strong-sell.html
Shares of Hospitality Properties Trust (NYSE:HPT) traded down 0.94% during trading on Tuesday, reaching $28.51. 511,859 shares of the company were exchanged. The stock has a 50-day moving average price of $29.55 and a 200-day moving average price of $28.38. The stock has a market capitalization of $4.32 billion, a PE ratio of 33.42 and a beta of 1.11. Hospitality Properties Trust has a one year low of $20.69 and a one year high of $32.32.
Hospitality Properties Trust (NYSE:HPT) last posted its earnings results on Tuesday, August 9th. The real estate investment trust reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The firm had revenue of $550.30 million for the quarter, compared to the consensus estimate of $544 million. The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. Analysts forecast that Hospitality Properties Trust will post $3.60 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Stockholders of record on Friday, October 21st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 7.16%. Hospitality Properties Trust’s dividend payout ratio (DPR) is 196.16%.
Large investors have recently made changes to their positions in the stock. Hamlin Capital Management LLC boosted its stake in shares of Hospitality Properties Trust by 5.2% in the second quarter. Hamlin Capital Management LLC now owns 2,388,845 shares of the real estate investment trust’s stock worth $68,799,000 after buying an additional 119,075 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Hospitality Properties Trust by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,329,825 shares of the real estate investment trust’s stock worth $168,120,000 after buying an additional 85,267 shares during the period. BlackRock Group LTD boosted its stake in shares of Hospitality Properties Trust by 0.8% in the first quarter. BlackRock Group LTD now owns 1,423,820 shares of the real estate investment trust’s stock worth $37,816,000 after buying an additional 11,329 shares during the period. Legal & General Group Plc boosted its stake in shares of Hospitality Properties Trust by 2.1% in the first quarter. Legal & General Group Plc now owns 864,796 shares of the real estate investment trust’s stock worth $22,968,000 after buying an additional 18,056 shares during the period. Finally, Riverhead Capital Management LLC boosted its stake in shares of Hospitality Properties Trust by 368.9% in the first quarter. Riverhead Capital Management LLC now owns 127,549 shares of the real estate investment trust’s stock worth $3,388,000 after buying an additional 100,349 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hospitality Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hospitality Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.