Hersha Hospitality Trust Receives “Hold” Rating from Deutsche Bank (HT)
Deutsche Bank reiterated their hold rating on shares of Hersha Hospitality Trust (NYSE: HT) in a research report sent to investors on Monday morning. The firm currently has a $5.25 price target on the stock, up from their previous price target of $5.00.
“We are updating our HT model post 4Q results and HT’s preferred equity offering. Strong transient demand in NYC following Superstorm Sandy has provided HT’s hotels with a temporary lift. While supply growth in NYC may be delayed by the storm, the high profitability of mid-block limited service hotels in NYC will attract new supply, limiting rate growth potential in our view. Our price target goes to $5.25. We remain at Hold.,” Deutsche Bank’s analyst commented.
HT has been the subject of a number of other recent research reports. Analysts at TheStreet upgraded shares of Hersha Hospitality Trust from a hold rating to a buy rating in a research note to investors on Friday, February 22nd. Analysts at BMO Capital Markets initiated coverage on shares of Hersha Hospitality Trust in a research note to investors on Monday, January 14th. They set a market perform rating and a $5.75 price target on the stock.
Three equities research analysts have rated the stock with a buy rating, two have given an overweight rating, and seven have issued a hold rating to the stock. The stock currently has an average rating of overweight and a consensus price target of $6.02.
Hersha Hospitality Trust opened at 5.77 on Monday. Hersha Hospitality Trust has a 1-year low of $4.19 and a 1-year high of $5.91. The stock’s 50-day moving average is currently $5.40. The company has a market cap of $1.147 billion and a price-to-earnings ratio of 137.38.
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