Municipal Employees Retirement System of Michigan Sells 13,730 Shares of Hospitality Properties Trust (HPT)
Municipal Employees Retirement System of Michigan reduced its holdings in shares of Hospitality Properties Trust (NASDAQ:HPT) by 21.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,680 shares of the real estate investment trust’s stock after selling 13,730 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Hospitality Properties Trust were worth $1,415,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of HPT. FMR LLC purchased a new position in shares of Hospitality Properties Trust in the 1st quarter worth about $1,009,000. Teachers Advisors LLC boosted its holdings in shares of Hospitality Properties Trust by 7.9% in the 1st quarter. Teachers Advisors LLC now owns 313,588 shares of the real estate investment trust’s stock worth $9,887,000 after purchasing an additional 22,905 shares in the last quarter. KCG Holdings Inc. bought a new stake in shares of Hospitality Properties Trust in the 1st quarter valued at about $286,000. AQR Capital Management LLC lifted its stake in shares of Hospitality Properties Trust by 14.4% in the 1st quarter. AQR Capital Management LLC now owns 54,393 shares of the real estate investment trust’s stock valued at $1,715,000 after acquiring an additional 6,846 shares during the last quarter. Finally, Capstone Asset Management Co. lifted its stake in shares of Hospitality Properties Trust by 1.9% in the 2nd quarter. Capstone Asset Management Co. now owns 12,805 shares of the real estate investment trust’s stock valued at $373,000 after acquiring an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 76.03% of the company’s stock.
Shares of Hospitality Properties Trust (HPT) opened at $29.78 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $4,894.31, a P/E ratio of 8.25, a P/E/G ratio of 1.66 and a beta of 1.05. Hospitality Properties Trust has a 52 week low of $26.64 and a 52 week high of $32.68.
Hospitality Properties Trust (NASDAQ:HPT) last posted its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The company had revenue of $577.60 million for the quarter, compared to the consensus estimate of $581.67 million. Hospitality Properties Trust had a return on equity of 8.79% and a net margin of 11.66%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 EPS. analysts forecast that Hospitality Properties Trust will post 3.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Monday, October 23rd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 20th. This represents a $2.08 annualized dividend and a yield of 6.98%. Hospitality Properties Trust’s dividend payout ratio is 148.57%.
A number of research analysts have commented on HPT shares. BidaskClub raised Hospitality Properties Trust from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Zacks Investment Research lowered Hospitality Properties Trust from a “buy” rating to a “sell” rating in a research report on Monday, October 23rd. Robert W. Baird set a $30.00 target price on Hospitality Properties Trust and gave the stock a “hold” rating in a report on Tuesday, October 17th. Canaccord Genuity reiterated a “hold” rating and set a $30.00 target price (down previously from $32.00) on shares of Hospitality Properties Trust in a report on Friday, August 11th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $33.00 target price (down previously from $33.50) on shares of Hospitality Properties Trust in a report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $32.17.
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About Hospitality Properties Trust
Hospitality Properties Trust is a real estate investment trust. The Company’s segments include hotel investments, travel center investments and corporate. As of December 31, 2016, the Company owned 306 hotels with 46,583 rooms or suites, and 198 travel centers. As of December 31, 2016, the Company’s properties were located in 45 states in the United States, Canada and Puerto Rico.
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