FBR & Co Reaffirms “Buy” Rating for Hersha Hospitality Trust (HT)

FBR & Co reiterated their buy rating on shares of Hersha Hospitality Trust (NYSE:HT) in a report released on Friday. The firm currently has a $20.00 price target on the real estate investment trust’s stock. FBR & Co also issued estimates for Hersha Hospitality Trust’s FY2017 earnings at $1.97 EPS and FY2018 earnings at $2.17 EPS.

HT has been the topic of several other research reports. Wells Fargo & Company reduced their price target on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a market perform rating on the stock in a report on Friday. Stifel Nicolaus reaffirmed a hold rating and issued a $20.00 price target on shares of Hersha Hospitality Trust in a report on Wednesday, July 19th. Robert W. Baird reaffirmed a buy rating and issued a $20.00 price target on shares of Hersha Hospitality Trust in a report on Thursday, October 12th. BidaskClub raised shares of Hersha Hospitality Trust from a sell rating to a hold rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research raised shares of Hersha Hospitality Trust from a sell rating to a hold rating in a report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Hersha Hospitality Trust has an average rating of Hold and an average price target of $19.60.

Shares of Hersha Hospitality Trust (NYSE HT) opened at 17.27 on Friday. The firm has a market cap of $722.47 million, a P/E ratio of 7.57 and a beta of 1.39. The firm has a 50-day moving average of $18.57 and a 200-day moving average of $18.58. Hersha Hospitality Trust has a 12-month low of $16.80 and a 12-month high of $22.14.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.49%. The ex-dividend date was Thursday, September 28th. Hersha Hospitality Trust’s dividend payout ratio is presently 52.09%.

In related news, insider Neil H. Shah purchased 4,165 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average price of $17.93 per share, with a total value of $74,678.45. Following the completion of the transaction, the insider now owns 297,418 shares of the company’s stock, valued at approximately $5,332,704.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Neil H. Shah purchased 5,673 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were bought at an average cost of $17.48 per share, with a total value of $99,164.04. Following the transaction, the insider now directly owns 305,033 shares of the company’s stock, valued at approximately $5,331,976.84. The disclosure for this purchase can be found here. In the last three months, insiders bought 17,175 shares of company stock valued at $304,665. Company insiders own 8.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. RMR Advisors LLC increased its position in Hersha Hospitality Trust by 23.4% during the third quarter. RMR Advisors LLC now owns 120,475 shares of the real estate investment trust’s stock worth $2,249,000 after purchasing an additional 22,830 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Hersha Hospitality Trust during the third quarter worth approximately $258,000. Brookfield Asset Management Inc. increased its position in Hersha Hospitality Trust by 11.9% during the second quarter. Brookfield Asset Management Inc. now owns 3,371,560 shares of the real estate investment trust’s stock worth $62,408,000 after purchasing an additional 357,835 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Hersha Hospitality Trust during the second quarter worth approximately $219,000. Finally, Public Employees Retirement System of Ohio increased its position in Hersha Hospitality Trust by 26.8% during the second quarter. Public Employees Retirement System of Ohio now owns 63,761 shares of the real estate investment trust’s stock worth $1,180,000 after purchasing an additional 13,459 shares during the last quarter. 98.01% of the stock is owned by hedge funds and other institutional investors.

About Hersha Hospitality Trust

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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