Hospitality Properties expands stock offer, and expects to gross $138M from sale of shares

Hospitality Properties prices offer of 8M shares

NEWTON, Mass. — Hospitality Properties Trust on Tuesday increased its planned stock offering to 8 million shares at a price of $17.25 per share, implying $138 million in gross proceeds.

The real estate investment trust said Monday it planned to sell 5 million shares. The underwriters of the offer will have the option to buy up to 1.2 million additional shares to cover overallotments. Hospitality Properties said the offering is expected to close on Friday.

In morning trading, the stock lost $1.85, or 10 percent, to $16.62.