Hospitality Properties Trust (HPT) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Hospitality Properties Trust (NASDAQ:HPT) from a hold rating to a buy rating in a research note released on Wednesday morning. The firm currently has $32.00 price target on the real estate investment trust’s stock.

According to Zacks, “Hospitality Properties Trust is a real estate investment trust. The company owns and leases hotels to unaffiliated hotel operators. The company’s principal strategy is to expand its investments in hotels and to set minimum rents which produce income in excess of the company’s cost of raising capital. The company seeks to provide capital to unaffiliated hotel operators who wish to divest their properties while remaining in the hotel business as tenants and in doing so, ensure stability of cash flow through dependable and diversified revenue sources. “

Other equities analysts have also issued reports about the company. BidaskClub lowered Hospitality Properties Trust from a sell rating to a strong sell rating in a research report on Tuesday, July 25th. Canaccord Genuity reissued a hold rating and set a $30.00 price target (down from $32.00) on shares of Hospitality Properties Trust in a research report on Friday, August 11th. FBR & Co reissued a buy rating and set a $33.00 price target (down from $35.00) on shares of Hospitality Properties Trust in a research report on Thursday, August 10th. Stifel Nicolaus reissued a buy rating and set a $33.00 price target (down from $33.50) on shares of Hospitality Properties Trust in a research report on Friday, August 11th. Finally, Robert W. Baird reissued a neutral rating and set a $32.00 price target (up from $31.00) on shares of Hospitality Properties Trust in a research report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $32.29.

Shares of Hospitality Properties Trust (NASDAQ:HPT) traded up 0.89% during mid-day trading on Wednesday, reaching $29.33. 152,583 shares of the company’s stock were exchanged. Hospitality Properties Trust has a 52 week low of $26.06 and a 52 week high of $32.68. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 24.92 and a beta of 1.04. The stock has a 50 day moving average price of $27.95 and a 200 day moving average price of $29.38.

Hospitality Properties Trust (NASDAQ:HPT) last released its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.03). The firm had revenue of $570.60 million during the quarter, compared to analyst estimates of $557.61 million. Hospitality Properties Trust had a net margin of 10.22% and a return on equity of 7.53%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. Equities research analysts predict that Hospitality Properties Trust will post $1.07 EPS for the current year.

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Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its holdings in Hospitality Properties Trust by 88.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 203,237 shares of the real estate investment trust’s stock worth $5,924,000 after purchasing an additional 95,393 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Hospitality Properties Trust by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,430,472 shares of the real estate investment trust’s stock worth $70,848,000 after purchasing an additional 13,279 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Hospitality Properties Trust by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 23,829 shares of the real estate investment trust’s stock worth $751,000 after purchasing an additional 286 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Hospitality Properties Trust by 7.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,623,685 shares of the real estate investment trust’s stock worth $47,331,000 after purchasing an additional 116,991 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Hospitality Properties Trust by 9.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 118,520 shares of the real estate investment trust’s stock worth $3,456,000 after purchasing an additional 10,710 shares during the last quarter. Institutional investors own 76.26% of the company’s stock.

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.

Analyst Recommendations for Hospitality Properties Trust (NASDAQ:HPT)

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