Hersha Hospitality Trust (HT) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Hersha Hospitality Trust (NYSE:HT) from a sell rating to a hold rating in a report published on Thursday morning.

According to Zacks, “Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focussed on the hospitality industry. Hersha currently owns, operates, and develops a portfolio of hotels and assisted living facilities in the mid-Atlantic region of the United States. (PRESS RELEASE) “

Several other research firms also recently commented on HT. Stifel Nicolaus restated a hold rating and set a $19.00 price objective on shares of Hersha Hospitality Trust in a report on Thursday, September 7th. DA Davidson initiated coverage on Hersha Hospitality Trust in a report on Friday, September 29th. They set a buy rating and a $21.00 price objective for the company. FBR & Co decreased their price objective on Hersha Hospitality Trust from $23.00 to $21.00 and set an outperform rating for the company in a report on Thursday, July 27th. Robert W. Baird restated a buy rating and set a $20.00 price objective on shares of Hersha Hospitality Trust in a report on Friday, September 8th. Finally, BidaskClub downgraded Hersha Hospitality Trust from a hold rating to a sell rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $19.60.

Shares of Hersha Hospitality Trust (HT) traded down 0.46% during trading on Thursday, hitting $17.34. 507,474 shares of the stock traded hands. Hersha Hospitality Trust has a 52 week low of $16.80 and a 52 week high of $22.14. The company has a 50-day moving average of $18.59 and a 200-day moving average of $18.59. The firm has a market cap of $721.52 million, a P/E ratio of 7.99 and a beta of 1.39.

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The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.12 annualized dividend and a yield of 6.46%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is currently 52.09%.

In other Hersha Hospitality Trust news, insider Neil H. Shah acquired 4,165 shares of Hersha Hospitality Trust stock in a transaction on Wednesday, August 30th. The stock was purchased at an average price of $17.93 per share, for a total transaction of $74,678.45. Following the purchase, the insider now directly owns 297,418 shares of the company’s stock, valued at $5,332,704.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Neil H. Shah acquired 1,667 shares of Hersha Hospitality Trust stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $17.86 per share, with a total value of $29,772.62. Following the purchase, the chief operating officer now directly owns 297,418 shares in the company, valued at $5,311,885.48. The disclosure for this purchase can be found here. Insiders have purchased 8,679 shares of company stock valued at $155,506 in the last quarter. 8.10% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Pinebridge Investments L.P. grew its stake in Hersha Hospitality Trust by 1.0% in 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 during the period. State of Alaska Department of Revenue grew its stake in Hersha Hospitality Trust by 76.8% in 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 during the period. Municipal Employees Retirement System of Michigan bought a new position in Hersha Hospitality Trust in the 1st quarter valued at $179,000. KCG Holdings Inc. bought a new position in Hersha Hospitality Trust in the 1st quarter valued at $200,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Hersha Hospitality Trust in the 2nd quarter valued at $219,000. Hedge funds and other institutional investors own 98.35% of the company’s stock.

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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