FelCor Lodging Trust Incorporated (NYSE:FCH) Shares Gap Down Following Weak Earnings
FelCor Lodging Trust Incorporated (NYSE:FCH) gapped down prior to trading on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $7.41, but opened at $7.26. FelCor Lodging Trust shares last traded at $7.10, with a volume of 8,972,100 shares trading hands.
The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $220.40 million for the quarter, compared to the consensus estimate of $222.20 million. FelCor Lodging Trust had a negative return on equity of 25.32% and a negative net margin of 3.25%. FelCor Lodging Trust’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, July 12th. This represents a $0.24 dividend on an annualized basis and a yield of 3.38%. FelCor Lodging Trust’s dividend payout ratio is presently -63.16%.
FCH has been the subject of a number of research reports. Zacks Investment Research lowered shares of FelCor Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. ValuEngine upgraded shares of FelCor Lodging Trust from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 20th. Finally, BidaskClub upgraded shares of FelCor Lodging Trust from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.17.
A number of institutional investors have recently modified their holdings of FCH. Norges Bank acquired a new position in shares of FelCor Lodging Trust during the fourth quarter worth $12,354,000. Teachers Advisors LLC increased its stake in shares of FelCor Lodging Trust by 19.9% in the fourth quarter. Teachers Advisors LLC now owns 286,771 shares of the real estate investment trust’s stock worth $2,297,000 after buying an additional 47,550 shares during the last quarter. Foundry Partners LLC purchased a new stake in shares of FelCor Lodging Trust during the first quarter worth about $201,000. Alpha Windward LLC purchased a new stake in shares of FelCor Lodging Trust during the first quarter worth about $496,000. Finally, Fox Run Management L.L.C. increased its stake in shares of FelCor Lodging Trust by 31.4% in the first quarter. Fox Run Management L.L.C. now owns 25,500 shares of the real estate investment trust’s stock worth $192,000 after buying an additional 6,100 shares during the last quarter. Hedge funds and other institutional investors own 75.42% of the company’s stock.
The stock’s market cap is $982.79 million. The stock has a 50 day moving average price of $7.28 and a 200 day moving average price of $7.42.
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About FelCor Lodging Trust
FelCor Lodging Trust Incorporated is a real estate investment trust (REIT). The Company, through its subsidiary, FelCor Lodging Limited Partnership, held ownership interests in 39 hotels with 11,500 rooms, as of December 31, 2016. The Company sells, acquires, rebrands and redevelops hotels. As of December 31, 2016, the Company’s hotels were located in 14 states of the United States.
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