Zacks Investment Research upgraded shares of Hospitality Properties Trust (NASDAQ:HPT) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. The firm currently has $28.00 price objective on the real estate investment trust’s stock.
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 topic of several other reports. Stifel Nicolaus raised shares of Wingstop from a hold rating to a buy rating and upped their price target for the company from $80.00 to $92.00 in a report on Monday, June 3rd. BidaskClub cut shares of Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $28.33.
Hospitality Properties Trust (NASDAQ:HPT) last announced its earnings results on Friday, May 10th. The real estate investment trust reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.01. The business had revenue of $524.90 million during the quarter, compared to the consensus estimate of $529.66 million. Hospitality Properties Trust had a negative net margin of 5.25% and a negative return on equity of 4.42%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. As a group, research analysts forecast that Hospitality Properties Trust will post 3.66 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 29th will be issued a $0.54 dividend. The ex-dividend date is Friday, July 26th. This represents a $2.16 annualized dividend and a yield of 8.79%. Hospitality Properties Trust’s dividend payout ratio is presently 58.54%.
Several large investors have recently modified their holdings of the business. Cedar Capital LLC raised its holdings in Hospitality Properties Trust by 11.7% during the first quarter. Cedar Capital LLC now owns 50,413 shares of the real estate investment trust’s stock valued at $1,326,000 after acquiring an additional 5,294 shares during the period. Deutsche Bank AG grew its holdings in shares of Hospitality Properties Trust by 18.2% during the fourth quarter. Deutsche Bank AG now owns 258,036 shares of the real estate investment trust’s stock valued at $6,158,000 after buying an additional 39,765 shares during the last quarter. US Bancorp DE grew its holdings in shares of Hospitality Properties Trust by 17.5% during the first quarter. US Bancorp DE now owns 31,838 shares of the real estate investment trust’s stock valued at $837,000 after buying an additional 4,740 shares during the last quarter. Citigroup Inc. grew its holdings in shares of Hospitality Properties Trust by 40.5% during the first quarter. Citigroup Inc. now owns 228,023 shares of the real estate investment trust’s stock valued at $5,999,000 after buying an additional 65,728 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Hospitality Properties Trust by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 2,429,333 shares of the real estate investment trust’s stock valued at $58,012,000 after buying an additional 178,754 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors.
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, the District of Columbia, 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.
Featured Story: Using other technical indicators with support levels
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hospitality Properties Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hospitality Properties Trust and related companies with MarketBeat.com's FREE daily email newsletter.