Hersha Hospitality Trust (HT) Stake Lessened by Real Estate Management Services LLC

Real Estate Management Services LLC lessened its holdings in shares of Hersha Hospitality Trust (NYSE:HT) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,201,046 shares of the real estate investment trust’s stock after selling 127,300 shares during the quarter. Hersha Hospitality Trust comprises 4.6% of Real Estate Management Services LLC’s investment portfolio, making the stock its 10th largest position. Real Estate Management Services LLC owned about 2.87% of Hersha Hospitality Trust worth $22,424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Chicago Equity Partners LLC lifted its position in Hersha Hospitality Trust by 404.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 397,897 shares of the real estate investment trust’s stock worth $7,365,000 after buying an additional 319,022 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Hersha Hospitality Trust by 2.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 462,499 shares of the real estate investment trust’s stock worth $8,691,000 after buying an additional 12,450 shares during the last quarter. BlackRock Inc. lifted its position in Hersha Hospitality Trust by 0.3% in the 2nd quarter. BlackRock Inc. now owns 5,971,382 shares of the real estate investment trust’s stock worth $110,531,000 after buying an additional 16,158 shares during the last quarter. Legal & General Group Plc lifted its position in Hersha Hospitality Trust by 93.0% in the 1st quarter. Legal & General Group Plc now owns 159,835 shares of the real estate investment trust’s stock worth $3,002,000 after buying an additional 77,030 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Hersha Hospitality Trust by 8.7% in the 1st quarter. Vanguard Group Inc. now owns 7,032,015 shares of the real estate investment trust’s stock worth $132,132,000 after buying an additional 561,377 shares during the last quarter. Hedge funds and other institutional investors own 98.01% of the company’s stock.

HT has been the subject of a number of recent research reports. BidaskClub downgraded Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Stifel Nicolaus restated a “hold” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a research report on Wednesday, July 19th. Zacks Investment Research upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. FBR & Co dropped their target price 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. Finally, Robert W. Baird restated a “buy” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a research report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Hersha Hospitality Trust has an average rating of “Hold” and an average price target of $19.60.

In other Hersha Hospitality Trust news, insider Neil H. Shah purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was purchased at an average cost of $17.91 per share, with a total value of $26,865.00. Following the purchase, the insider now owns 302,210 shares of the company’s stock, valued at $5,412,581.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Neil H. Shah purchased 4,165 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were acquired at an average cost of $17.93 per share, with a total value of $74,678.45. Following the completion of the purchase, the insider now directly owns 297,418 shares in the company, valued at approximately $5,332,704.74. The disclosure for this purchase can be found here. Insiders bought a total of 8,679 shares of company stock valued at $155,506 over the last ninety days. Corporate insiders own 8.10% of the company’s stock.

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Shares of Hersha Hospitality Trust (NYSE:HT) traded down 0.17% during mid-day trading on Monday, reaching $17.31. The company’s stock had a trading volume of 247,921 shares. The company has a 50-day moving average price of $18.59 and a 200 day moving average price of $18.59. 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 $724.15 million, a PE ratio of 7.59 and a beta of 1.39.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.46%. The ex-dividend date was Thursday, September 28th. Hersha Hospitality Trust’s payout ratio 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.

Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

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