Bank of New York Mellon Corp cut its position in shares of Hersha Hospitality Trust (NYSE:HT) by 49.0% during the second quarter, Holdings Channel reports. The institutional investor owned 390,922 shares of the real estate investment trust’s stock after selling 375,344 shares during the period. Bank of New York Mellon Corp owned approximately 0.92% of Hersha Hospitality Trust worth $6,704,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in Hersha Hospitality Trust by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 316,006 shares of the real estate investment trust’s stock worth $6,744,000 after buying an additional 105,744 shares during the last quarter. BB&T Securities LLC increased its stake in Hersha Hospitality Trust by 48.4% in the first quarter. BB&T Securities LLC now owns 17,555 shares of the real estate investment trust’s stock worth $374,000 after buying an additional 5,724 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Hersha Hospitality Trust by 2.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,913,074 shares of the real estate investment trust’s stock worth $40,825,000 after buying an additional 42,052 shares during the last quarter. A.R.T. Advisors LLC increased its stake in Hersha Hospitality Trust by 713.5% in the first quarter. A.R.T. Advisors LLC now owns 83,345 shares of the real estate investment trust’s stock worth $1,778,000 after buying an additional 73,100 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Hersha Hospitality Trust by 3.6% in the first quarter. BlackRock Inc. now owns 37,692 shares of the real estate investment trust’s stock worth $805,000 after buying an additional 1,320 shares during the last quarter.

Hersha Hospitality Trust (NYSE:HT) traded up 0.32% during mid-day trading on Tuesday, reaching $18.79. 451,639 shares of the company traded hands. The stock has a market capitalization of $797.20 million, a PE ratio of 7.84 and a beta of 1.43. The stock has a 50-day moving average of $19.13 and a 200 day moving average of $19.21. Hersha Hospitality Trust has a 52-week low of $15.36 and a 52-week high of $25.63.

Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The firm had revenue of $127.70 million for the quarter, compared to the consensus estimate of $130.11 million. Hersha Hospitality Trust had a net margin of 24.39% and a return on equity of 15.88%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. Equities research analysts expect that Hersha Hospitality Trust will post $2.48 earnings per share for the current year.

A number of analysts have commented on HT shares. Royal Bank Of Canada cut their price objective on shares of Hersha Hospitality Trust from $23.00 to $21.00 and set a “sector perform” rating for the company in a report on Tuesday, August 9th. Zacks Investment Research downgraded shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Deutsche Bank AG restated a “hold” rating and set a $21.00 price target on shares of Hersha Hospitality Trust in a report on Sunday, June 26th. Janney Montgomery Scott began coverage on shares of Hersha Hospitality Trust in a report on Monday, May 23rd. They set a “neutral” rating and a $17.00 price target for the company. Finally, FBR & Co cut their price target on shares of Hersha Hospitality Trust from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, July 29th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $22.00.

In other Hersha Hospitality Trust news, Chairman Hasu P. Shah purchased 3,000 shares of Hersha Hospitality Trust stock in a transaction on Wednesday, August 17th. The shares were bought at an average price of $19.00 per share, with a total value of $57,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay H. Shah purchased 4,700 shares of Hersha Hospitality Trust stock in a transaction on Monday, September 12th. The stock was acquired at an average cost of $18.40 per share, for a total transaction of $86,480.00. Following the acquisition, the chief executive officer now directly owns 275,730 shares of the company’s stock, valued at $5,073,432. The disclosure for this purchase can be found here. Corporate insiders own 7.10% of the company’s stock.

Hersha Hospitality Trust Company Profile

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.

5 Day Chart for NYSE:HT

Want to see what other hedge funds are holding HT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hersha Hospitality Trust (NYSE:HT).

Receive News & Ratings for Hersha Hospitality Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hersha Hospitality Trust and related companies with MarketBeat.com's FREE daily email newsletter.