Hersha Hospitality Trust (HT) Given Average Rating of “Hold” by Brokerages

Hersha Hospitality Trust (NYSE:HT) has earned an average recommendation of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $20.00.

HT has been the topic of several recent analyst reports. Brean Capital reaffirmed a “buy” rating and set a $16.00 price target on shares of Hersha Hospitality Trust in a research report on Monday, May 1st. ValuEngine lowered Hersha Hospitality Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Finally, Stifel Nicolaus reissued a “hold” rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a report on Wednesday, July 19th.

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In other news, COO Neil H. Shah acquired 1,400 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were purchased at an average cost of $18.00 per share, with a total value of $25,200.00. Following the acquisition, the chief operating officer now directly owns 296,308 shares in the company, valued at approximately $5,333,544. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pinebridge Investments L.P. increased its stake in Hersha Hospitality Trust by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 54 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Hersha Hospitality Trust by 76.8% in the second quarter. State of Alaska Department of Revenue now owns 8,186 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 3,556 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Hersha Hospitality Trust during the first quarter worth $179,000. Mason Street Advisors LLC bought a new stake in Hersha Hospitality Trust during the first quarter worth $184,000. Finally, KCG Holdings Inc. bought a new stake in Hersha Hospitality Trust during the first quarter worth $200,000. 96.55% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Hersha Hospitality Trust (HT) traded down 0.83% during trading on Monday, reaching $17.98. The company’s stock had a trading volume of 123,145 shares. The stock’s 50 day moving average price is $18.55 and its 200 day moving average price is $19.09. Hersha Hospitality Trust has a 52 week low of $16.80 and a 52 week high of $22.14. The company has a market cap of $752.18 million, a PE ratio of 7.89 and a beta of 1.38.

Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The company had revenue of $138 million for the quarter, compared to analyst estimates of $134.55 million. Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. Equities research analysts predict that Hersha Hospitality Trust will post $2.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend was Wednesday, June 28th. Hersha Hospitality Trust’s dividend payout ratio is 48.70%.

Hersha Hospitality Trust Company Profile

Hersha Hospitality Trust is a self-advised real estate investment trust (REIT). The Company invests primarily in institutional grade hotels in urban gateway markets, including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and select markets on the West Coast. As of July 20, 2017, the Company’s hotels included 51 hotels totaling 7,804 rooms located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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