Hospitality Properties Trust (HPT) - NYSE
  • 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 that provides services in hospitality and in travels. It operates through two segments: Hotel Real Estate Investments and Travel Center Real Estate Investments. The company owns hotels and travel centers located throughout the United... More
Sector: Financial
Industry: REIT - Retail
Country: United States