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FCH

Felcor Lodging

$7.26

-0.08 (-1.09%)

, RLJ

RLJ Lodging Trust

$20.35

-0.16 (-0.78%)

08:41
08/09/17
08/09
08:41
08/09/17
08:41

FelCor not providing further updates to guidance for remainder of year

FelCor (FCH) says, "As discussed in our prior earnings release, given our pending merger with RLJ (RLJ), we are not providing any further updates to our guidance for the remainder of the year. On April 24, 2017, we announced that we had entered into a definitive merger agreement under which we will merge with and into a wholly-owned subsidiary of RLJ in an all-stock transaction. At closing, our stockholders will receive 0.362 RLJ common shares for each share of our common stock. The transaction is expected to close on August 31, 2017 and is subject to customary closing conditions, including the approval of both companies' shareholders at their respective special meetings on August 15, 2017."

FCH

Felcor Lodging

$7.26

-0.08 (-1.09%)

RLJ

RLJ Lodging Trust

$20.35

-0.16 (-0.78%)

  • 15

    Aug

  • 15

    Aug

FCH Felcor Lodging
$7.26

-0.08 (-1.09%)

09/26/16
JANY
09/26/16
INITIATION
Target $7.5
JANY
Buy
Felcor Lodging initiated with a Buy at Janney Capital
Janney Capital analyst Tyler Batory initiated Flecor Lodging with a Buy and a $7.50 price target saying the company can benefit from several organic growth opportunities, potential asset sales and an improved balance sheet.
01/04/17
01/04/17
DOWNGRADE
Target $8

Market Perform
Felcor Lodging downgraded to Market Perform from Outperform at FBR Capital
FBR Capital analyst David Corak downgraded Felcor Lodging to Market Perform citing valuation and the "slow" sales process of its New York City hotels. The analyst keeps an $8 price target for the shares.
02/24/17
JANY
02/24/17
NO CHANGE
Target $9
JANY
Buy
Ashford Hospitality a motivated buyer in pursuit of Felcor, says Janney Capital
Janney Capital analyst Tyler Batory sees numerous challenges for the lodging REIT sector, but still believes Felcor Lodging (FCH) can outperform this year, citing its portfolio diversification, potential sale of NYC assets and the acquisition proposal that has been made by Ashford Hospitality (AHT). Batory, who has a Buy rating and $9 fair value estimate on Felcor, views Ashford as a motivated buyer, noting a transaction could create substantial long-term value, and sees it as a positive for Felcor shareholders if the company were to sell itself at a premium.
07/18/17
JANY
07/18/17
NO CHANGE
Target $28
JANY
Buy
PE interest in RLJ Lodging a positive for industry, says Janney Capital
Janney Capital analyst Tyler Batory noted RLJ Lodging Trust's (RLJ) disclosure that it had received a number of unsolicited all-cash offers from a private equity investor as it negotiated its transaction with Felcor Lodging (FCH). That PE interest is a positive for the lodging REIT industry generally, said Batory, whose base case remains that the RLJ-Felcor deal will be consummated. The analyst, who thinks investors are overlooking the strategic value of the deal, including the opportunity for RLJ to sell Felcor assets and pay down debt, keeps his Buy rating and $28 fair value estimate on RLJ Lodging shares.
RLJ RLJ Lodging Trust
$20.35

-0.16 (-0.78%)

09/26/16
JANY
09/26/16
INITIATION
Target $24
JANY
Buy
RLJ Lodging Trust initiated with a Buy at Janney Capital
Janney Capital analyst Tyler Batory initiated RLJ Lodging Trust with a Buy and a $24 price target. The analyst likes the company's exposure to exposure to select-service hotels, which typically achieve consistent cash flows and higher margins than full service hotels.
12/14/16
NOMU
12/14/16
INITIATION
Target $28
NOMU
Buy
RLJ Lodging Trust initiated with a Buy at Nomura
Nomura analyst Brian Dobson initiated RLJ Lodging Trust with a Buy and a $28 price target saying the company should benefit from GDP and corporate profit growth, which will drive RevPAR growth.
04/12/17
BOSC
04/12/17
INITIATION
Target $21
BOSC
Underperform
RLJ Lodging Trust initiated with an Underperform at Boenning & Scattergood
Boenning & Scattergood analyst Floris van Dijkum initiated RLJ Lodging Trust with an Underperform and a $21 price target due to its relative 4.2% NAV premium to the sector.

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