Hersha Hospitality Trust (HT) Sees Large Volume Increase
Hersha Hospitality Trust (NYSE:HT) shares saw strong trading volume on Thursday . 322,362 shares traded hands during trading, an increase of 1% from the previous session’s volume of 318,665 shares.The stock last traded at $19.14 and had previously closed at $19.54.
A number of research analysts have recently commented on the stock. Canaccord Genuity reissued a “hold” rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a research report on Friday, July 29th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $21.00 price target (down from $23.00) on shares of Hersha Hospitality Trust in a report on Wednesday, August 10th. Barclays PLC cut their price target on shares of Hersha Hospitality Trust from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Friday, July 29th. FBR & Co cut their price target on shares of Hersha Hospitality Trust from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, July 29th. Finally, Zacks Investment Research raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $22.00.
The company has a 50-day moving average of $19.19 and a 200-day moving average of $19.35. The stock has a market capitalization of $809.93 million and a price-to-earnings ratio of 7.96.
Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $127.70 million for the quarter, compared to analyst estimates of $130.11 million. During the same quarter last year, the business earned $0.76 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts expect that Hersha Hospitality Trust will post $2.48 EPS for the current fiscal year.
In related news, Chairman Hasu P. Shah purchased 3,000 shares of the stock in a transaction on Wednesday, August 17th. The shares were bought at an average price of $19.00 per share, for a total transaction of $57,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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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