Zacks Investment Research Upgrades Hospitality Properties Trust (HPT) to “Buy”
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 price objective points to 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. “
A number of other analysts have also recently weighed in on HPT. Canaccord Genuity reissued a “hold” rating and set a $33.00 price objective on shares of Hospitality Properties Trust in a report on Wednesday, August 10th. Janney Montgomery Scott assumed coverage on shares of Hospitality Properties Trust in a report on Tuesday. They set a “buy” rating and a $31.00 price objective on the stock. Finally, FBR & Co cut shares of Hospitality Properties Trust from an “outperform” rating to a “market perform” rating and raised their price objective 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. One 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 has a consensus rating of “Hold” and an average target price of $30.43.
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Shares of Hospitality Properties Trust (NYSE:HPT) traded up 0.97% during mid-day trading on Tuesday, reaching $29.29. 980,985 shares of the company were exchanged. Hospitality Properties Trust has a 12 month low of $20.69 and a 12 month high of $32.32. The stock has a 50 day moving average price of $29.36 and a 200-day moving average price of $28.49. The stock has a market capitalization of $4.44 billion, a P/E ratio of 34.34 and a beta of 1.11.
Hospitality Properties Trust (NYSE:HPT) last released its quarterly earnings data on Tuesday, August 9th. The real estate investment trust reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.04. The company had revenue of $550.30 million for the quarter, compared to analyst estimates of $544 million. During the same period in the previous year, the business posted $0.99 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts predict that Hospitality Properties Trust will post $3.60 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Friday, October 21st will be given a $0.51 dividend. The ex-dividend date of this dividend 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 (DPR) is 196.16%.
A number of institutional investors have recently bought and sold shares of HPT. Nuveen Asset Management LLC raised its position in Hospitality Properties Trust by 11.1% in the first quarter. Nuveen Asset Management LLC now owns 86,006 shares of the real estate investment trust’s stock worth $2,284,000 after buying an additional 8,600 shares during the period. HBK Investments L P raised its position in Hospitality Properties Trust by 58.7% in the first quarter. HBK Investments L P now owns 180,600 shares of the real estate investment trust’s stock worth $4,797,000 after buying an additional 66,800 shares during the period. Riverhead Capital Management LLC raised its position in 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. Meeder Asset Management Inc. raised its position in Hospitality Properties Trust by 4,378.8% in the first quarter. Meeder Asset Management Inc. now owns 17,915 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 17,515 shares during the period. Finally, State Street Corp raised its position in Hospitality Properties Trust by 1.6% in the first quarter. State Street Corp now owns 6,683,906 shares of the real estate investment trust’s stock worth $177,531,000 after buying an additional 104,072 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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