HPI - Morgans rates the stock as Add
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The broker notes Hotel Property Investments priced long-term debt finance of A$230m via the US Private Placement (USPP) market. This, the analysts point out, materially increases its weighted average debt tenor while diversifying funding sources.
In addition, HPI has declared a 2H17 distribution of 9.9c, to be paid on 6 September. Morgans expects FY18 distribution guidance to be provided with the FY result on 24 August.
The stockbroker retains the Add rating with a revised $3.06 price target, up from $3.01.
Sector: Real Estate.
Target price is $3.06.Current Price is $2.92. Difference: $0.14 - (brackets indicate current price is over target). If HPI meets the Morgans target it will return approximately 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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