Hersha Hospitality Trust (NYSE:HT) shares dropped 1.6% during trading 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.

Several analysts have recently issued reports on HT shares. Canaccord Genuity reiterated a “hold” rating and issued a $21.00 price objective on shares of Hersha Hospitality Trust in a research note on Tuesday, July 5th. Deutsche Bank AG dropped their target price on Hersha Hospitality Trust from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Friday, July 29th. FBR & Co dropped their target price on Hersha Hospitality Trust from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, July 29th. Bank of America Corp. lowered Hersha Hospitality Trust from a “buy” rating to a “neutral” rating and dropped their target price for the company from $21.00 to $18.00 in a report on Thursday, May 19th. Finally, Zacks Investment Research lowered Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Hersha Hospitality Trust presently has a consensus rating of “Hold” and an average target price of $22.00.

The company has a market cap of $818.84 million and a PE ratio of 8.05. The stock has a 50-day moving average price of $18.47 and a 200-day moving average price of $19.19.

Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $127.70 million for the quarter, compared to analysts’ expectations of $130.11 million. During the same period last year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts expect that Hersha Hospitality Trust will post $2.49 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $1.12 dividend on an annualized basis and a yield of 5.80%.

A number of hedge funds have made changes to their positions in HT. 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 worth $1,162,000 after buying an additional 23,520 shares during the period. Pear Tree Advisors Inc. purchased a new position in shares of Hersha Hospitality Trust during the fourth quarter worth approximately $1,373,000. Advantus Capital Management Inc raised its position 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 worth $1,541,000 after buying an additional 10,800 shares in the last quarter. Systematic Financial Management LP purchased a new position in shares of Hersha Hospitality Trust during the fourth quarter worth approximately $1,671,000. Finally, Bank of Montreal Can raised its position 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 worth $2,915,000 after buying an additional 104,911 shares in 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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