Hersha Hospitality Trust (NYSE:HT) shares fell 2.3% during trading on Tuesday . The stock traded as low as $18.71 and last traded at $18.81, with a volume of 341,232 shares traded. The stock had previously closed at $19.26.

Several research firms have recently commented on HT. Stifel Nicolaus began coverage on Hersha Hospitality Trust in a research note on Tuesday, March 29th. They issued a “hold” rating on the stock. Zacks Investment Research downgraded Hersha Hospitality Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 25th. Canaccord Genuity reaffirmed a “hold” rating and issued a $21.00 price objective (down previously from $22.00) on shares of Hersha Hospitality Trust in a research note on Monday, May 2nd. FBR & Co reaffirmed a “buy” rating on shares of Hersha Hospitality Trust in a research note on Saturday, April 30th. Finally, Bank of America Corp. downgraded Hersha Hospitality Trust from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $21.00 to $18.00 in a research note on Thursday, May 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Hersha Hospitality Trust currently has an average rating of “Hold” and a consensus target price of $24.46.

The stock has a 50 day moving average price of $18.13 and a 200-day moving average price of $19.10. The stock has a market cap of $826.08 million and a price-to-earnings ratio of 38.44.

Hersha Hospitality Trust (NYSE:HT) last issued its quarterly earnings results on Thursday, April 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by $0.06. During the same period in the previous year, the business earned $0.26 EPS. The business earned $106.87 million during the quarter, compared to the consensus estimate of $105.66 million. The business’s revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that Hersha Hospitality Trust will post $2.52 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $1.12 annualized dividend and a yield of 5.97%.

Several hedge funds have recently added to or reduced their stakes in the company. Pear Tree Advisors Inc. purchased a new stake in Hersha Hospitality Trust during the fourth quarter worth approximately $1,373,000. Systematic Financial Management LP purchased a new stake in Hersha Hospitality Trust during the fourth quarter worth approximately $1,671,000. Advantus Capital Management Inc increased its stake in Hersha Hospitality Trust by 18.0% in the fourth quarter. Advantus Capital Management Inc now owns 70,800 shares of the real estate investment trust’s stock worth $1,541,000 after buying an additional 10,800 shares during the last quarter. Deere & Co. increased its stake in Hersha Hospitality Trust by 418.0% in the fourth quarter. Deere & Co. now owns 89,603 shares of the real estate investment trust’s stock worth $1,950,000 after buying an additional 72,304 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Hersha Hospitality Trust by 361.3% in the fourth quarter. Bank of Montreal Can now owns 133,950 shares of the real estate investment trust’s stock worth $2,915,000 after buying an additional 104,911 shares during the last quarter.

Hersha Hospitality Trust is a real estate investment trust. The Company operates through investment in hotel properties segment. It invests in institutional grade hotels in urban gateway markets, including New York, Washington District of Columbia (DC), Boston, Philadelphia, South Florida and select markets on the West Coast.

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