Hersha Hospitality Trust (HT) Receives Average Recommendation of “Hold” from Brokerages
Shares of Hersha Hospitality Trust (NYSE:HT) have been assigned a consensus rating of “Hold” from the eleven brokerages that are currently covering the company. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $20.33.
A number of analysts have issued reports on HT shares. FBR & Co decreased their target price on Hersha Hospitality Trust from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, October 27th. Canaccord Genuity reiterated a “hold” rating and issued a $22.00 price target (up from $20.00) on shares of Hersha Hospitality Trust in a research report on Friday, December 23rd. Finally, Zacks Investment Research cut Hersha Hospitality Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday.
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In other Hersha Hospitality Trust news, Director Thomas J. Hutchison III sold 10,000 shares of Hersha Hospitality Trust stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $20.07, for a total transaction of $200,700.00. Following the completion of the sale, the director now owns 66,181 shares of the company’s stock, valued at $1,328,252.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jay H. Shah purchased 1,429 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were purchased at an average cost of $17.50 per share, with a total value of $25,007.50. Following the purchase, the chief executive officer now owns 279,174 shares of the company’s stock, valued at $4,885,545. The disclosure for this purchase can be found here. Corporate insiders own 7.10% of the company’s stock.
A number of large investors have recently modified their holdings of HT. Brookfield Asset Management Inc. increased its position in Hersha Hospitality Trust by 39.7% in the second quarter. Brookfield Asset Management Inc. now owns 3,222,069 shares of the real estate investment trust’s stock valued at $55,258,000 after buying an additional 914,884 shares in the last quarter. Real Estate Management Services LLC increased its position in Hersha Hospitality Trust by 28.9% in the second quarter. Real Estate Management Services LLC now owns 1,815,397 shares of the real estate investment trust’s stock valued at $31,134,000 after buying an additional 407,200 shares in the last quarter. Teachers Advisors LLC increased its position in Hersha Hospitality Trust by 101.4% in the third quarter. Teachers Advisors LLC now owns 596,403 shares of the real estate investment trust’s stock valued at $10,747,000 after buying an additional 300,236 shares in the last quarter. Bank of Montreal Can bought a new position in Hersha Hospitality Trust during the second quarter valued at approximately $2,795,000. Finally, Lazard Asset Management LLC increased its position in Hersha Hospitality Trust by 38,219.0% in the third quarter. Lazard Asset Management LLC now owns 114,957 shares of the real estate investment trust’s stock valued at $2,071,000 after buying an additional 114,657 shares in the last quarter.
Shares of Hersha Hospitality Trust (NYSE:HT) traded up 1.9184% during trading on Friday, reaching $20.8525. The company’s stock had a trading volume of 100,462 shares. The stock has a market cap of $872.47 million, a P/E ratio of 9.0232 and a beta of 1.33. Hersha Hospitality Trust has a 12-month low of $15.36 and a 12-month high of $22.15. The stock’s 50-day moving average is $21.04 and its 200-day moving average is $19.20.
Hersha Hospitality Trust (NYSE:HT) last released its earnings results on Wednesday, October 26th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.03. Hersha Hospitality Trust had a return on equity of 14.23% and a net margin of 22.37%. The business earned $120.60 million during the quarter, compared to the consensus estimate of $116.01 million. During the same period last year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities research analysts anticipate that Hersha Hospitality Trust will post $2.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Thursday, January 5th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Tuesday, January 3rd. Hersha Hospitality Trust’s dividend payout ratio is 47.86%.
About Hersha Hospitality Trust
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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