Hospitality Properties Trust: Still Attractive
Aug. 10, 2014, 5:30 PM
Jul. 10, 2014, 11:25 AM
- Hospitality Properties Trust (HPT) declares $0.49/share quarterly dividend, in line with previous.
- Forward yield 6.41%
- Payable Aug. 22; for shareholders of record July 25; ex-div July 23.
May 6, 2014, 9:38 AM
- Normalized FFO per share of $0.75 (up from $0.74 a year ago)
- Adjusted EBITDA of $154,951 (up 12.7%)
- Comparable RevPAR of $77.85 (10.1%)
- Coverage of minimum returns and rents of 0.74x (0.70x)
- CC at 1 ET
- Previously: Hospitality Properties Trust FFO beats by $0.05, beats on revenue
- HPT +0.5%
May 6, 2014, 8:08 AM
- Hospitality Properties Trust (HPT): Q1 FFO of $0.75 beats by $0.05.
- Revenue of $394.25M (+11.2% Y/Y) beats by $13.81M.
May 5, 2014, 5:30 PM
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Apr. 8, 2014, 4:18 PM
- Hospitality Properties Trust (HPT) declares $0.49/share quarterly dividend, 2.08% increase from prior dividend of $0.48
- Forward yield 6.77%
- Payable May 21; for shareholders of record April 25; ex-div April 22.
Mar. 19, 2014, 12:35 PM
- A check of other REITs externally managed by the Portnoys' Reit Management & Research - and thus possibly activist targets - finds no noticeable reaction to the dissident shareholder victory which likely means the removal of the entire CommonWealth board.
- Hospitality Properties Trust (HPT -1.7%), Senior Housing Properties (SNH), Government Properties Income Trust (GOV -0.4%), Select Income REIT (SIR -0.8%), RMR Real Estate Income Fund (RIF +0.1%). Other companies (not REITs managed by RMR): Five Star Quality Care (FVE -0.3%), TravelCenters of America (TA -1.2%).
Mar. 11, 2014, 7:27 AM
- Analyst Jeffrey Donnelly notes five points: 1) a well-covered 7.25% dividend yield with moderate growth expected 2) nearing completion of a multi-year renovation program 3) the pace of portfolios crossing over the 1x rent coverage threshold 4) improvements in corporate governance of late 5) ability to display independence should it decide to terminate the Sonesta management contract.
- HPT no trades premarket
Feb. 26, 2014, 8:57 AM
- "For a long time nobody thought a REIT could be successfully attacked, so nobody bothered," says Darren Novak, whose firm advises companies and activist investors. "If CommonWealth (CWH) falls, that perception will change."
- Activist battles and hostile takeovers in REITs are rare, write the WSJ's Robbie Whelan and Liz Hoffman, partly because of tax rules and corporate charters preventing any one investor from owning more than roughly 10% of a company's shares. Plus, REITs typically have hefty dividends, robbing activists of a typical complaint of not enough cash being returned to shareholders. Add to that the fact that REITs usually trade near book value, making it hard to argue about unlocking hidden value.
- If Corvex and Related are successful in tossing out CommonWealth REITs board and management, who might be the next target? Quickly coming to mind are Senior Housing Properties Trust (SNH), Government Property Trust (GOV), Select Income REIT (SIR), and Hospitality Properties Trust (HPT) - all also managed by the Portnoy's RMR.
- See also: Phil Goldstein's Bulldog Investors successfully pushes for faster buybacks at Javelin Mortgage.
Feb. 25, 2014, 8:05 AM
- Hospitality Properties Trust (HPT): Q4 FFO of $0.71 beats by $0.01.
- Revenue of $384.7M (+19.4% Y/Y) beats by $3.77M.
Feb. 25, 2014, 12:05 AM
Feb. 24, 2014, 5:30 PM
Jan. 14, 2014, 3:50 PM
- The hotel REIT sector is having a big day, led by Strategic Hotels & Resorts (BEE +1.8%) one day after a 2-notch upgrade by BAML to Buy from Underperform. The price target is $11.50.
- The activist target initially popped yesterday following the upgrade, but gave up those gains as the market tanked in the afternoon.
- Others: Hospitality Properties (HPT +0.8%), Sunstone Hotel (SHO +1.5%), LaSalle Hotel (LHO +1.1%), Pebblebrook (PEB +1.8%), Ashford Hospitality (AHT +1.8%).
Jan. 3, 2014, 8:03 AM
- Hospitality Properties Trust (HPT) declares $0.48/share quarterly dividend, in line with previous.
- Forward yield 7.12%
- Payable Feb. 21; for shareholders of record Jan 13; ex-div Jan 9.
Nov. 5, 2013, 7:06 AM
- Hospitality Properties (HPT): FQ3 FFO of $0.76 beats by $0.01.
- Revenue of $412.27M beats by $20.17M. (PR)
Nov. 5, 2013, 12:05 AM
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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
Industry: REIT - Retail
Country: United States
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