CNH Partners LLC Acquires Shares of 5,467,973 FelCor Lodging Trust Incorporated (FCH)
CNH Partners LLC acquired a new stake in shares of FelCor Lodging Trust Incorporated (NYSE:FCH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 5,467,973 shares of the real estate investment trust’s stock, valued at approximately $39,424,000. CNH Partners LLC owned about 3.95% of FelCor Lodging Trust at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in FCH. Bank of Montreal Can raised its stake in FelCor Lodging Trust by 298.9% during the second quarter. Bank of Montreal Can now owns 14,999 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 11,239 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in FelCor Lodging Trust by 2.5% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,622 shares of the real estate investment trust’s stock valued at $141,000 after buying an additional 478 shares during the last quarter. Harvest Management LLC purchased a new position in FelCor Lodging Trust during the second quarter valued at $144,000. Laurion Capital Management LP purchased a new position in FelCor Lodging Trust during the second quarter valued at $146,000. Finally, SG Americas Securities LLC purchased a new position in FelCor Lodging Trust during the first quarter valued at $147,000. Institutional investors and hedge funds own 78.78% of the company’s stock.
A number of research analysts have issued reports on the company. ValuEngine cut FelCor Lodging Trust from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. FBR & Co reiterated a “neutral” rating and set a $7.00 price objective (down previously from $8.00) on shares of FelCor Lodging Trust in a research note on Monday, August 14th. BidaskClub cut FelCor Lodging Trust from a “sell” rating to a “strong sell” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research lowered FelCor Lodging Trust from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. FelCor Lodging Trust has a consensus rating of “Hold” and an average target price of $7.00.
FelCor Lodging Trust Incorporated (NYSE FCH) traded up 1.11% during mid-day trading on Friday, hitting $7.30. The company’s stock had a trading volume of 6,710,962 shares. The firm’s 50-day moving average is $7.20 and its 200-day moving average is $7.34. The company’s market cap is $1.01 billion. FelCor Lodging Trust Incorporated has a 12-month low of $6.00 and a 12-month high of $9.13.
FelCor Lodging Trust (NYSE:FCH) last issued its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.35). The firm had revenue of $220.40 million during the quarter, compared to analysts’ expectations of $222.20 million. During the same period in the previous year, the company posted $0.32 EPS. The company’s revenue was down 7.4% on a year-over-year basis. Analysts predict that FelCor Lodging Trust Incorporated will post ($0.37) EPS for the current fiscal year.
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FelCor Lodging Trust Profile
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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