Hospitality Properties Trust (HPT) was Downgraded by FBR Capital to ” Mkt Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 32 from a previous price target of $31 . Earlier the firm had a rating of “Outperform ” on the company shares. FBR Capital advised their investors in a research report released on Aug 10, 2016.
On the company’s financial health, Hospitality Properties Trust reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $1.05. The company had revenue of $550.30 million for the quarter, compared to analysts expectations of $540.30 million. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 EPS.
Hospitality Properties Trust closed down -0.23 points or -0.72% at $31.87 with 8,40,293 shares getting traded on Monday. Post opening the session at $32.21, the shares hit an intraday low of $31.86 and an intraday high of $32.32 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Hospitality Properties Trust (HPT) is a real estate investment trust (REIT). The Company operates in two segments: hotel real estate investments and travel center real estate investments. The Company owns approximately 291 hotels with 44107 rooms or suites and 184 travel centers. The Company does not operate its properties. Instead its properties are operated by other companies under long term management or lease agreements. The Company leased approximately 288 of its hotels are leased to its taxable REIT subsidiaries (TRSs) and managed by independent hotel operating companies and three hotels are leased to third parties. The Company also owns 184 travel centers all of which it leases to TravelCenters of America LLC or its subsidiaries pursuant to long term leases. The Company’s properties are located in 44 states in the United States Canada and Puerto Rico.