Public Sector Pension investment Board cut its position in shares of Hersha Hospitality Trust (NYSE:HT) by 26.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,600 shares of the real estate investment trust’s stock after selling 7,900 shares during the period. Public Sector Pension investment Board owned about 0.05% of Hersha Hospitality Trust worth $400,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinebridge Investments L.P. raised its position in Hersha Hospitality Trust by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 54 shares in the last quarter. State of Alaska Department of Revenue raised its position in Hersha Hospitality Trust by 76.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,186 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 3,556 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Hersha Hospitality Trust during the 1st quarter valued at $179,000. Mason Street Advisors LLC bought a new stake in Hersha Hospitality Trust during the 1st quarter valued at $184,000. Finally, KCG Holdings Inc. bought a new stake in Hersha Hospitality Trust during the 1st quarter valued at $200,000. 98.38% of the stock is owned by institutional investors and hedge funds.
In other news, insider Neil H. Shah bought 1,500 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were acquired at an average price of $17.91 per share, for a total transaction of $26,865.00. Following the completion of the transaction, the insider now owns 302,210 shares of the company’s stock, valued at $5,412,581.10. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Neil H. Shah bought 1,667 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average price of $17.86 per share, for a total transaction of $29,772.62. Following the transaction, the chief operating officer now directly owns 297,418 shares of the company’s stock, valued at approximately $5,311,885.48. The disclosure for this purchase can be found here. Insiders have bought 8,679 shares of company stock worth $155,506 in the last quarter. Insiders own 8.10% of the company’s stock.
Several research analysts have recently commented on the company. Stifel Nicolaus reissued a “hold” rating and issued a $19.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday. DA Davidson assumed coverage on Hersha Hospitality Trust in a research report on Friday, September 29th. They issued a “buy” rating and a $21.00 price target for the company. BidaskClub lowered Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. Finally, FBR & Co reduced their price target on Hersha Hospitality Trust from $23.00 to $21.00 and set an “outperform” rating for the company in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Hersha Hospitality Trust currently has an average rating of “Hold” and a consensus target price of $19.89.
Hersha Hospitality Trust (NYSE HT) opened at 18.97 on Thursday. The company’s 50-day moving average price is $18.44 and its 200 day moving average price is $18.59. Hersha Hospitality Trust has a 52 week low of $16.80 and a 52 week high of $22.14. The stock has a market capitalization of $793.59 million, a P/E ratio of 8.32 and a beta of 1.39.
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 Zacks’ consensus estimate of $0.79 by ($0.02). Hersha Hospitality Trust had a net margin of 22.77% and a return on equity of 14.78%. The business had revenue of $138.00 million during the quarter, compared to analyst estimates of $134.55 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Hersha Hospitality Trust will post $2.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Thursday, September 28th. Hersha Hospitality Trust’s dividend payout ratio (DPR) is currently 48.70%.
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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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