Hospitality Properties Trust (HPT) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $63.19 million, or $ 0.35 a share in the quarter, against a net loss of $19.49 million, or $0.16 a share in the last year period.
Revenue during the quarter went up marginally by 2.53 percent to $479.28 million from $467.44 million in the previous year period.
Cost of revenue went up marginally by 2.20 percent or $6.01 million during the quarter to $279.30 million. Gross margin for the quarter expanded 19 basis points over the previous year period to 41.73 percent.
Total expenses were $378.91 million for the quarter, down 8.84 percent or $36.75 million from year-ago period. Operating margin for the quarter expanded 986 basis points over the previous year period to 20.94 percent.
Operating income for the quarter was $100.37 million, compared with $51.78 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $136.99 million compared with $123.73 million in the prior year period. At the same time, adjusted EBITDA margin improved 211 basis points in the quarter to 28.58 percent from 26.47 percent in the last year period.
Revenue from real estate activities during the quarter increased 6.61 percent or $4.99 million to $80.55 million.
Other income during the quarter was $0.99 million, up 1.54 percent or $0.02 million from year-ago period.
Net receivables were at $65.33 million as on Dec. 31, 2016, up 28.13 percent or $14.34 million from year-ago.
Total assets grew 3.54 percent or $226.63 million to $6,634.23 million on Dec. 31, 2016. On the other hand, total liabilities were at $3,504.84 million as on Dec. 31, 2016, down 2.52 percent or $90.68 million from year-ago.
Return on assets moved up 124 basis points to 1.51 percent in the quarter. Return on equity was at 1.85 percent in the quarter against a negative 0.88 percent in the last year period.
Debt comes down marginally
Total debt was at $3,163.81 million as on Dec. 31, 2016, down 3.39 percent or $110.87 million from year-ago. Shareholders equity stood at $3,129.39 million as on Dec. 31, 2016, up 11.28 percent or $317.31 million from year-ago. As a result, debt to equity ratio went down 15 basis points to 1.01 percent in the quarter.
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