Hospitality Properties Trust (HPT) Upgraded to “Buy” at Zacks Investment Research
Hospitality Properties Trust (NYSE:HPT) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $33.00 price target on the real estate investment trust’s stock. Zacks Investment Research’s target price would indicate a potential upside of 12.67% from the stock’s previous close.
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 weighed in on HPT. FBR & Co downgraded 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 report on Wednesday, August 10th. They noted that the move was a valuation call. Canaccord Genuity reiterated a “hold” rating and set a $33.00 target price on shares of Hospitality Properties Trust in a research report on Wednesday, August 10th. Finally, Janney Montgomery Scott initiated coverage on Hospitality Properties Trust in a research report on Tuesday. They set a “buy” rating and a $31.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $30.43.
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Hospitality Properties Trust (NYSE:HPT) traded up 0.97% during trading on Tuesday, hitting $29.29. The stock had a trading volume of 980,985 shares. The company has a 50-day moving average of $29.36 and a 200 day moving average of $28.49. The firm has a market cap of $4.44 billion, a P/E ratio of 34.34 and a beta of 1.11. 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 released its earnings results on Tuesday, August 9th. The real estate investment trust reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. The company had revenue of $550.30 million for the quarter, compared to analysts’ expectations of $544 million. Hospitality Properties Trust’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. On average, equities research analysts predict that Hospitality Properties Trust will post $3.60 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Shareholders of record on Friday, October 21st will be issued a dividend of $0.51 per share. The ex-dividend date is Wednesday, October 19th. This represents a $2.04 dividend on an annualized basis and a yield of 6.96%. Hospitality Properties Trust’s dividend payout ratio is presently 196.16%.
Several large investors have recently modified their holdings of the company. RS Investment Management Co. LLC purchased a new stake in shares of Hospitality Properties Trust during the second quarter valued at about $131,000. 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 period. NEXT Financial Group Inc boosted its stake in shares of Hospitality Properties Trust by 2.1% in the second quarter. NEXT Financial Group Inc now owns 5,481 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 113 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Hospitality Properties Trust by 1.9% in the second quarter. Daiwa Securities Group Inc. now owns 5,500 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 100 shares during the period. Finally, Creative Planning boosted its stake in shares of Hospitality Properties Trust by 12.3% in the second quarter. Creative Planning now owns 6,400 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 700 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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