Zacks Investment Research Lowers Hospitality Properties Trust (HPT) to Hold
Zacks Investment Research lowered shares of Hospitality Properties Trust (NASDAQ:HPT) from a buy rating to a hold rating in a research note published on Thursday morning.
According to Zacks, “Hospitality Properties Trust is a real estate investment trust, or REIT, , which owns a diverse portfolio of hotels and travel. HPT owns hotels and owns or leases travel centers located throughout the United States, Canada and Puerto Rico. Its properties are operated by other companies under long term management or lease agreements. The Company is included in a number of financial indices, including the S&P 400 MidCap Index, the Russell 1000, the MSCI US REIT Index, S&P REIT Composite Index and the FTSE EPRA/NAREIT United States Index. HPT is one of two lodging REITs whose debt is investment grade rated. “
HPT has been the subject of a number of other reports. BidaskClub cut shares of Hospitality Properties Trust from a hold rating to a sell rating in a report on Wednesday, September 12th. B. Riley raised their target price on shares of Hospitality Properties Trust from $32.00 to $33.00 and gave the stock a buy rating in a report on Monday, August 13th. Finally, ValuEngine upgraded shares of Hospitality Properties Trust from a sell rating to a hold rating in a report on Wednesday, August 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Hospitality Properties Trust has an average rating of Hold and a consensus target price of $30.00.
Hospitality Properties Trust (NASDAQ:HPT) last issued its earnings results on Tuesday, November 6th. The real estate investment trust reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. The firm had revenue of $603.20 million during the quarter, compared to analysts’ expectations of $601.94 million. Hospitality Properties Trust had a net margin of 14.31% and a return on equity of 9.32%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. As a group, sell-side analysts anticipate that Hospitality Properties Trust will post 3.98 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Monday, October 29th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date of this dividend was Friday, October 26th. Hospitality Properties Trust’s payout ratio is 59.38%.
A number of large investors have recently modified their holdings of the stock. Nordea Investment Management AB acquired a new position in Hospitality Properties Trust in the 3rd quarter worth approximately $2,881,000. Glenmede Trust Co. NA boosted its stake in Hospitality Properties Trust by 60.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 158,901 shares of the real estate investment trust’s stock worth $4,582,000 after purchasing an additional 59,602 shares during the period. AQR Capital Management LLC boosted its stake in Hospitality Properties Trust by 25.9% in the 3rd quarter. AQR Capital Management LLC now owns 60,391 shares of the real estate investment trust’s stock worth $1,741,000 after purchasing an additional 12,436 shares during the period. Macquarie Group Ltd. boosted its stake in Hospitality Properties Trust by 13.1% in the 3rd quarter. Macquarie Group Ltd. now owns 197,400 shares of the real estate investment trust’s stock worth $5,693,000 after purchasing an additional 22,900 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in Hospitality Properties Trust in the 3rd quarter worth approximately $8,865,000. Hedge funds and other institutional investors own 74.45% of the company’s stock.
Hospitality Properties Trust Company Profile
Hospitality Properties Trust is a real estate investment trust, or REIT, which owns a diverse portfolio of hotels and travel centers located in 45 states, Puerto Rico and Canada. HPT's properties are operated under long term management or lease agreements. HPT is managed by the operating subsidiary of The RMR Group Inc (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, Massachusetts.
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