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Fly News Breaks for June 3, 2019
SMTA, HPT
Jun 3, 2019 | 08:51 EDT
Stifel analyst Simon Yarmak downgraded Hospitality Properties Trust (HPT) to Hold from Buy and lowered his price target for the shares to $25 from $28. The analyst downgraded the shares after the company entered into an agreement to purchase a 774 property portfolio from Spirit MTA REIT (SMTA) for $2.4B, or a 7.2% cap rate.
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