Hersha Hospitality Trust (HT) Insider Purchases $24,930.00 in Stock
Hersha Hospitality Trust (NYSE:HT) insider Neil H. Shah acquired 1,385 shares of Hersha Hospitality Trust stock in a transaction on Tuesday, September 13th. The shares were bought at an average price of $18.00 per share, with a total value of $24,930.00. Following the purchase, the insider now directly owns 290,558 shares in the company, valued at approximately $5,230,044. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Hersha Hospitality Trust (NYSE:HT) opened at 18.79 on Wednesday. The firm has a market capitalization of $797.20 million, a PE ratio of 7.84 and a beta of 1.43. Hersha Hospitality Trust has a 12-month low of $15.36 and a 12-month high of $25.63. The company has a 50-day moving average price of $19.13 and a 200-day moving average price of $19.18.
Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. The firm earned $127.70 million during the quarter, compared to analysts’ expectations 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 for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. On average, analysts predict that Hersha Hospitality Trust will post $2.48 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in shares of Hersha Hospitality Trust by 22.1% in the second quarter. Teacher Retirement System of Texas now owns 6,224 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 1,127 shares during the period. Manchester Capital Management LLC bought a new position in shares of Hersha Hospitality Trust during the first quarter worth about $123,000. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of Hersha Hospitality Trust by 0.5% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 8,548 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 41 shares during the period. Menta Capital LLC bought a new position in shares of Hersha Hospitality Trust during the second quarter worth about $231,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Hersha Hospitality Trust by 3.1% in the second quarter. Dynamic Technology Lab Private Ltd now owns 18,178 shares of the real estate investment trust’s stock worth $312,000 after buying an additional 551 shares during the period.
Several equities analysts recently weighed in on HT shares. Royal Bank Of Canada cut their price target on Hersha Hospitality Trust from $23.00 to $21.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 9th. Zacks Investment Research lowered Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Deutsche Bank AG reiterated a “hold” rating and issued a $21.00 price objective on shares of Hersha Hospitality Trust in a report on Sunday, June 26th. FBR & Co lowered their price objective 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. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $21.00 price objective on shares of Hersha Hospitality Trust in a report on Tuesday, July 5th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.00.
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.
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