Cornerstone Capital Management Holdings LLC. bought a new position in shares of FelCor Lodging Trust Incorporated (NYSE:FCH) during the first quarter, Holdings Channel reports. The institutional investor bought 71,700 shares of the real estate investment trust’s stock, valued at approximately $538,000.
Other hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in FelCor Lodging Trust by 39.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,748,402 shares of the real estate investment trust’s stock worth $14,005,000 after buying an additional 491,102 shares during the last quarter. State Street Corp increased its stake in shares of FelCor Lodging Trust by 2.7% in the fourth quarter. State Street Corp now owns 4,607,085 shares of the real estate investment trust’s stock valued at $36,901,000 after buying an additional 122,491 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of FelCor Lodging Trust during the fourth quarter valued at $1,352,000. Foundry Partners LLC acquired a new stake in shares of FelCor Lodging Trust during the first quarter valued at $201,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of FelCor Lodging Trust by 7.7% in the first quarter. BNP Paribas Arbitrage SA now owns 51,673 shares of the real estate investment trust’s stock valued at $388,000 after buying an additional 3,682 shares in the last quarter. Hedge funds and other institutional investors own 76.20% of the company’s stock.
Shares of FelCor Lodging Trust Incorporated (NYSE FCH) opened at 7.29 on Friday. FelCor Lodging Trust Incorporated has a 12 month low of $5.68 and a 12 month high of $9.13. The company’s 50 day moving average price is $7.34 and its 200 day moving average price is $7.58. The company’s market capitalization is $1.01 billion.
FelCor Lodging Trust (NYSE:FCH) last posted its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.03. FelCor Lodging Trust had a negative return on equity of 25.32% and a negative net margin of 3.25%. The business had revenue of $188.10 million for the quarter, compared to analysts’ expectations of $192.24 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. FelCor Lodging Trust’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts expect that FelCor Lodging Trust Incorporated will post ($0.19) EPS for the current fiscal year.
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Several analysts recently weighed in on FCH shares. Zacks Investment Research downgraded FelCor Lodging Trust from a “hold” rating to a “sell” rating in a research report on Thursday, April 6th. ValuEngine upgraded FelCor Lodging Trust from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. FelCor Lodging Trust has an average rating of “Hold” and a consensus price target of $8.13.
About FelCor Lodging Trust
FelCor Lodging Trust Incorporated is a real estate investment trust (REIT). The Company, through its subsidiary, FelCor Lodging Limited Partnership, held ownership interests in 39 hotels with 11,500 rooms, as of December 31, 2016. The Company sells, acquires, rebrands and redevelops hotels. As of December 31, 2016, the Company’s hotels were located in 14 states of the United States.
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