Hersha Hospitality Trust (NYSE:HT) – Stock analysts at FBR & Co lowered their FY2017 earnings estimates for Hersha Hospitality Trust in a research report issued on Thursday. FBR & Co analyst Maher. B now forecasts that the real estate investment trust will post earnings of $1.97 per share for the year, down from their prior forecast of $2.15. FBR & Co has a “Buy” rating and a $20.00 price objective on the stock. FBR & Co also issued estimates for Hersha Hospitality Trust’s FY2018 earnings at $2.17 EPS.
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A number of other analysts also recently commented on the company. Wells Fargo & Company decreased their price target on Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Friday. Zacks Investment Research raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Thursday. Robert W. Baird reaffirmed a “buy” rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday, October 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $19.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday, October 12th. Finally, DA Davidson assumed coverage on Hersha Hospitality Trust in a research report on Friday, September 29th. They set a “buy” rating and a $21.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.60.
Hersha Hospitality Trust (NYSE HT) opened at 17.34 on Monday. The firm has a 50-day moving average price of $18.59 and a 200-day moving average price of $18.59. The company has a market capitalization of $725.40 million, a P/E ratio of 7.61 and a beta of 1.39. Hersha Hospitality Trust has a 1-year low of $16.80 and a 1-year high of $22.14.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinebridge Investments L.P. grew its holdings in Hersha Hospitality Trust by 1.0% during the second 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 holdings in Hersha Hospitality Trust by 76.8% during the second 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 during the first quarter valued at $179,000. KCG Holdings Inc. bought a new position in Hersha Hospitality Trust during the first quarter valued at $200,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Hersha Hospitality Trust during the second quarter valued at $219,000. 98.01% of the stock is owned by institutional investors and hedge funds.
In other news, insider Neil H. Shah acquired 1,500 shares of Hersha Hospitality Trust stock in a transaction on Friday, September 8th. The stock was acquired at an average cost of $17.91 per share, with a total value of $26,865.00. Following the completion of the acquisition, the insider now owns 302,210 shares in the company, valued at $5,412,581.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Neil H. Shah acquired 1,667 shares of Hersha Hospitality Trust stock in a transaction on Tuesday, August 29th. The shares were purchased at an average cost of $17.86 per share, with a total value of $29,772.62. Following the completion of the acquisition, the chief operating officer now 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. Over the last three months, insiders have acquired 8,679 shares of company stock valued at $155,506. 8.10% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend was Thursday, September 28th. Hersha Hospitality Trust’s dividend payout ratio (DPR) is 52.09%.
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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