Hospitality Properties Trust
 (HPT)

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  • Aug. 11, 2015, 12:59 PM
    • The Fed may be determined to hike rates, but deflationary signals are everywhere, with Beijing the latest government to acknowledge such with its devaluation overnight.
    • Crude oil has taken out a new six-year low, tumbling another 4% to $43.15 per barrel, and copper's 3% decline has brought it to a fresh six-year low. The grains are all down by 2% or more, but gold is marginally higher.
    • The major U.S. averages are down more than 1%, and Europe fell 1.5% today.
    • The 10-year Treasury yield is lower by a full ten basis points to 2.13%.
    • Leading the heavily discounted mREIT sector higher are Annaly Capital (NLY +1.1%), American Capital Agency (AGNC +1.3%), CYS Investments (CYS +1.2%), New York Mortgage (NYMT +1.6%), Hatteras Financial (HTS +1.3%), Capstead (CMO +1%), Anworth (ANH +1.4%), Dynex Capital (DX +2.6%), and AG Mortgage (MITT +1.6%).
    • ETFs: MORL, REM, MORT, LMBS
    • In equity REITs: National Retail (NNN +1.2%), Equity Residential (EQR +1.5%), AvalonBay (AVB +1.2%), General Growth (GGP +1.9%), Kimco (KIM +1.4%), Whitestone REIT (WSR +2.9%), Washington Real Estate (WRE +1.2%), Hospitality Properties (HPT +2.3%), Chamber Street (CSG +1.1%).
    • ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX
    | Aug. 11, 2015, 12:59 PM | 19 Comments
  • Aug. 10, 2015, 7:05 AM
    • Hospitality Properties (NYSE:HPT): Q2 FFO of $0.98 beats by $0.03.
    • Revenue of $507.06M (+12.2% Y/Y) beats by $22.15M.
    | Aug. 10, 2015, 7:05 AM | 1 Comment
  • Aug. 9, 2015, 5:30 PM
    | Aug. 9, 2015, 5:30 PM | 24 Comments
  • Aug. 6, 2015, 12:27 PM
    • The 10-year Treasury yield is down five basis points to 2.22% today, but investors continue to bail out of their income favorites.
    • The IYR is lower by 1.2%, slightly worse than the market averages.
    • National Retail Properties (NNN -1.5%), Omega Healthcare (OHI -2.2%), Starwood Property (STWD -1.4%), Equity Residential (EQR -1.1%), Government Properties (GOV -2%), Hospitality Properties (HPT -3%), Ashford Hospitality (AHT -4.7%), Liberty Property (LPT -2.2%).
    • ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX
    | Aug. 6, 2015, 12:27 PM | 26 Comments
  • Jul. 14, 2015, 7:50 AM
    • Much of the beaten-up lodging REIT sector looks like a buy to Canaccord, which initiates RLJ Lodging (NYSE:RLJ), Summit Hotel (NYSE:INN), Hersha Hospitality (NYSE:HT), DiamondRock (NYSE:DRH), Strategic Hotels (NYSE:BEE), and Ashford Hospitality (NYSE:AHT) with Buy ratings.
    • Rating only a Hold are Host Hotels (NYSE:HST), LaSalle Hotel (NYSE:LHO), Sunstone Hotel (NYSE:SHO), and Hospitality Properties (NYSE:HPT).
    • Non-REIT lodging players, Starwood (NYSE:HOT) rates a Buy and Marriott (NASDAQ:MAR) a Hold.
    | Jul. 14, 2015, 7:50 AM | 1 Comment
  • Jul. 13, 2015, 9:13 AM
    • Hospitality Properties (NYSE:HPT) declares $0.50/share quarterly dividend, in line with previous.
    • Forward yield 6.81%
    • Payable Aug. 20; for shareholders of record July 24; ex-div July 22.
    | Jul. 13, 2015, 9:13 AM
  • Jun. 29, 2015, 11:11 AM
    • With yields sharply lower on Grexit worry, the badly beaten-up REIT sector is seeing green creep into some of its names, but the IYR is lower by 0.1% on the session.
    • Among the gainers: Realty Income (O +0.3%), Omega Healthcare (OHI +0.1%), Medical Properties Trust (MPW +0.8%), Post Properties (PPS +0.4%), Simon Properties (SPG +0.1%), CubeSmart (CUBE -0.6%). Office property and lodging names are mostly lower: Boston Properties (BXP -0.4%), First Potomac (FPO -0.5%), Hospitality Properties (HPT -0.7%), Sunstone Hotel (SHO -0.4%).
    • The income sector doing the best is the utility group (XLU +0.8%).
    • Previously: Rates plunge on Greece gets ready to default (June 29)
    • ETFs: IYR, VNQ, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, IARAX
    | Jun. 29, 2015, 11:11 AM | 8 Comments
  • Jun. 9, 2015, 9:40 AM
    • With Select Income REIT (NYSE:SIR) COO David Blackman presenting at NAREIT's REITWeek conference, investors are taking the opportunity to ask about yesterday's deal for SIR (along with other Portnoy-managed REITs) to take a stake in the Portnoys' RMR.
    • Webcast
    • "Who set the price on RMR," is naturally the first question, and "Did any independent party do a valuation opinion" is naturally the second.
    • RMR came to its REITs with a price, says Blackman, and the price was based upon 50% of the termination fees in the existing management contracts. As for question number two, Blackman says all the banks involved had a look, but it doesn't appear as if any outsiders were retained to help out.
    • "Why not just internalize management," is another natural question, and Blackman says RMR's scale allows for lower costs.
    • Other REITs involved: SNH, HPT, GOV
    • Previously: Portnoys' RMR to go public; managed REITs now own about half (June 8)
    | Jun. 9, 2015, 9:40 AM | 12 Comments
  • Jun. 8, 2015, 8:32 AM
    • Aiming to quell investor concerns by more-aligning the interests of RMR Management and the REITs it manages, Senior Housing Properties (NYSE:SNH), Hospitality Properties (NYSE:HPT), Select Income REIT (NYSE:SIR), and Government Properties Trust (NYSE:GOV) are now the owners of about half of Reit Management & Research (RMR).
    • The management agreements will RMR are all extended for 20-year terms.
    • The REITs plan to distribute about half of their RMR shares to their shareholders, a move that will be facilitated by RMR's plan for a public listing.
    • The total purchase price was $172.8M, $46.4M of which was paid in cash and the rest in restricted common shares subject to 10-year lockups. The REITs now own 48.4% of  RMR.
    | Jun. 8, 2015, 8:32 AM | 17 Comments
  • Jun. 3, 2015, 10:25 AM
    • There's a bit of a selling panic going on in fixed income, with the 10-year Treasury yield up another nine basis points on this session to 2.35%, and now up 25 bps this week. The carnage across the pond is worse.
    • The IYR is lower by 0.9%.
    • Individual equity REITs: Realty Income (O -1.2%), Ventas (VTR -2.5%), Omega Healthcare (OHI -0.9%), HCP (HCP -1.5%), Equity Residential (EQR -2.1%), AvalonBay (AVB -1.8%), Simon Property (SPG -1.3%), General Growth (GGP -1.5%), Kimco (KIM -1.2%),  Public Storage (PSA -1%), Boston Properties (BXP -1.1%), Hospitality Properties (HPT -1.2%), Liberty Property (LPT -1%), Campus Crest (CCG -2.2%).
    • Mortgage REITs: Annaly (NLY -1.2%), American Capital Agency (AGNC -0.9%), Invesco (IVR -1.1%), Hatteras (HTS -1%), Ellington Residential (EARN -1%).
    • ETFs: IYR, VNQ, MORL, REM, MORT, DRN, URE, RQI, SCHH, ICF, SRS, RWR, RNP, JRS, KBWY, RFI, NRO, DRV, RIT, REK, RIF, FRI, FTY, PSR, DRA, FREL, WREI, LMBS, IARAX
    | Jun. 3, 2015, 10:25 AM | 74 Comments
  • Jun. 2, 2015, 7:37 AM
    • Alongside the sale/leaseback deal for 30 travel centers from TravelCenters of America (NYSE:TA), HPT will sell five travel centers to TA for about $45M (resulting in a gain on sale to HPT of about $10M).
    • Net cash rental income should increase by roughly $30.2M per year, plus percentage rent in the future.
    • The 30 sites includes 11 which HPT currently owns and where the company will acquire some or all of the improvements, land, and ancillary property owned by TA.
    • The transactions will occur at different times.
    • TA, of course, was spun off from HPT in 2007, and HPT remains its largest shareholder with an 8.9% stake.
    | Jun. 2, 2015, 7:37 AM | 1 Comment
  • May 7, 2015, 8:08 AM
    | May 7, 2015, 8:08 AM
  • May 7, 2015, 8:01 AM
    • Hospitality Properties (NYSE:HPT): Q1 FFO of $0.83 beats by $0.04.
    • Revenue of $435.51M (+10.5% Y/Y) beats by $12.93M.
    | May 7, 2015, 8:01 AM
  • May 6, 2015, 5:30 PM
  • Apr. 30, 2015, 3:15 PM
    • A big rise in interest rates early in the session made for a good excuse to sell REITs, but - with the averages sharply lower - rates have reversed course. Still, the sector can't catch a bid, with many of the bigger names down way more than the broader market.
    • Equity REITs: Realty Income (O -2.3%), Health Care REIT (HCN -3.2%), Ventas (VTR -3.2%), HCP (HCP -3.1%), Equity Residential (EQR -2.6%), Silver Bay Realty (SBY -2.5%), General Growth Properties (GGP -2.4%), Retail Opportunity (ROIC -3.9%), Boston Properties (BXP -2.4%), Hospitality Properties (HPT -2.9%)
    • Mortgage REITs: Armour Residential (ARR -5.6%) - which reported another weak quarter overnight, Two Harbors (TWO -1.1%), Western Asset (WMC -1.3%), Arlington Asset (AI -2.8%), PennyMac (PMT -1.5%). When things get tough, money does have a tendency to flow into the sector giants though: Annaly Capital (NLY -0.4%) and American Capital Agency (AGNC +0.3%) are notable outperformers on the session.
    • ETFs: IYR, VNQ, DRN, URE, REZ, SCHH, ICF, SRS, RWR, KBWY, DRV, REK, FRI, FTY, PSR, FREL, WREI
    | Apr. 30, 2015, 3:15 PM | 43 Comments
  • Apr. 17, 2015, 12:19 PM
    • For the first time in nearly a year, writes Susan Persin, weekly U.S. RevPAR fell as of April 4, and results were mixed for the following week, with lower occupancy offsetting ADR growth.
    • According to STR, which compiles the data, the RevPAR weakness is likely temporary thanks to Passover and Easter. The company notes fundamentals - an improving economy, low gasoline prices, and limited supply - remain in place.
    • Could be, says Persin, but investors - eyeing the strong dollar and its effect on foreign travel to the U.S. - had turned somewhat negative on the previously hot sector before April's data. Host Hotels and Resorts (NYSE:HST) is the largest lodging REIT by far, contributing more than 25% of the sector's market cap. Its stock peaked in December and is lower by 14.3% YTD, despite a Q4 earnings beat and raised guidance.
    • There's also supply concerns, with the 126K rooms under construction in March up 23% from a year ago. NYC has the largest number of rooms under construction/planned, followed by Houston, Miami, and Chicago.
    • Other sector names: Hospitality Properties (NYSE:HPT), Ashford Hospitality (NYSE:AHT), Strategic Hotels (NYSE:BEE), Sunstone Hotel  (NYSE:SHO), LaSalle Hotel (NYSE:LHO), Pebblebrook Hotel (NYSE:PEB), Chesapeake Lodging (NYSE:CHSP), Summit Hotels (NYSE:INN), RLJ Lodging (NYSE:RLJ), Chatham Lodging (NYSE:CLDT), Hersha Hospitality (NYSE:HT).
    | Apr. 17, 2015, 12:19 PM | 2 Comments
Company Description
Hospitality Properties Trust is a real estate investment trust. The Company invests in real estate used in hospitality industries including hotels and travel centers. Its properties are located in the United States, Canada and Puerto Rico.
Sector: Financial
Industry: REIT - Retail
Country: United States