Hersha Hospitality Trust (NYSE:HT) shares dropped 1.6% on Thursday . The company traded as low as $19.07 and last traded at $19.14, with a volume of 117,424 shares traded. The stock had previously closed at $19.45.

HT has been the subject of a number of analyst reports. FBR & Co reiterated a “buy” rating on shares of Hersha Hospitality Trust in a research report on Saturday, April 30th. Barclays PLC decreased their price objective on shares of Hersha Hospitality Trust from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Friday, July 29th. Canaccord Genuity restated a “hold” rating and set a $21.00 price target (down previously from $22.00) on shares of Hersha Hospitality Trust in a research report on Monday, May 2nd. Zacks Investment Research upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Finally, Deutsche Bank AG reduced their price target on shares of Hersha Hospitality Trust from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, July 29th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.00.

The stock has a market capitalization of $812.90 million and a price-to-earnings ratio of 7.99. The firm’s 50 day moving average is $18.43 and its 200-day moving average is $19.17.

Hersha Hospitality Trust (NYSE:HT) last issued its earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.03. During the same period in the previous year, the firm earned $0.76 EPS. The firm earned $127.70 million during the quarter, compared to analysts’ expectations of $130.11 million. The firm’s revenue was up .5% on a year-over-year basis. Equities analysts forecast that Hersha Hospitality Trust will post $2.49 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 5.85%. The ex-dividend date was Tuesday, June 28th.

Several hedge funds recently made changes to their positions in the stock. Advantus Capital Management Inc boosted its stake in shares of 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 valued at $1,541,000 after buying an additional 10,800 shares during the period. Bank of Montreal Can boosted its stake in shares of 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 valued at $2,915,000 after buying an additional 104,911 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Hersha Hospitality Trust by 78.7% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 53,420 shares of the real estate investment trust’s stock valued at $1,162,000 after buying an additional 23,520 shares during the period. Systematic Financial Management LP bought a new stake in shares of Hersha Hospitality Trust during the fourth quarter valued at approximately $1,671,000. Finally, Pear Tree Advisors Inc. bought a new stake in shares of Hersha Hospitality Trust during the fourth quarter valued at approximately $1,373,000.

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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