Russell Investments Group Ltd. Cuts Holdings in Hersha Hospitality Trust (HT)

Russell Investments Group Ltd. lowered its position in Hersha Hospitality Trust (NYSE:HT) by 32.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 63,537 shares of the real estate investment trust’s stock after selling 30,972 shares during the period. Russell Investments Group Ltd.’s holdings in Hersha Hospitality Trust were worth $1,440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new stake in shares of Hersha Hospitality Trust during the second quarter valued at approximately $151,000. Commonwealth Bank of Australia boosted its stake in shares of Hersha Hospitality Trust by 72.2% during the second quarter. Commonwealth Bank of Australia now owns 7,920 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 3,320 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Hersha Hospitality Trust during the second quarter valued at approximately $184,000. 6 Meridian purchased a new stake in shares of Hersha Hospitality Trust during the second quarter valued at approximately $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hersha Hospitality Trust by 144.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,799 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 6,375 shares during the period. 98.20% of the stock is owned by institutional investors and hedge funds.

Shares of Hersha Hospitality Trust stock opened at $18.76 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.09. The company has a market cap of $747.47 million, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 2.08 and a beta of 1.54. Hersha Hospitality Trust has a 52 week low of $16.60 and a 52 week high of $24.16.

Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, October 23rd. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $127.88 million during the quarter, compared to the consensus estimate of $134.82 million. On average, equities analysts predict that Hersha Hospitality Trust will post 1.92 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the company. Robert W. Baird lowered Hersha Hospitality Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, August 20th. Deutsche Bank set a $19.00 price objective on Hersha Hospitality Trust and gave the company a “hold” rating in a research note on Thursday, October 25th. ValuEngine lowered Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Zacks Investment Research raised Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, September 5th. Finally, Stifel Nicolaus increased their price objective on Hersha Hospitality Trust from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.63.

In other Hersha Hospitality Trust news, insider Neil H. Shah bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The stock was bought at an average price of $17.30 per share, for a total transaction of $51,900.00. Following the completion of the acquisition, the insider now directly owns 323,752 shares in the company, valued at $5,600,909.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Hasu P. Shah bought 1,450 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were acquired at an average price of $17.25 per share, with a total value of $25,012.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 13,500 shares of company stock valued at $233,860. 10.30% of the stock is owned by corporate insiders.

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Hersha Hospitality Trust Profile

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets and coastal destinations. The Company's 49 hotels totaling 7,730 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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

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