Hersha Hospitality Trust (HT) Sees Unusually-High Trading Volume
Hersha Hospitality Trust (NYSE:HT) saw unusually-high trading volume on Thursday . Approximately 322,362 shares changed 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.
HT has been the subject of a number of recent analyst reports. Canaccord Genuity restated a “hold” rating and set a $21.00 price objective on shares of Hersha Hospitality Trust in a report on Tuesday, July 5th. Deutsche Bank AG decreased their target price on Hersha Hospitality Trust from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, July 29th. FBR & Co decreased their target price on Hersha Hospitality Trust from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, July 29th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $21.00 target price (down from $23.00) on shares of Hersha Hospitality Trust in a research report on Wednesday, August 10th. Finally, Royal Bank Of Canada decreased their target price on Hersha Hospitality Trust from $23.00 to $21.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Hersha Hospitality Trust presently has a consensus rating of “Hold” and a consensus target price of $22.00.
The firm has a market cap of $807.39 million and a P/E ratio of 7.94. The stock’s 50-day moving average is $19.18 and its 200 day moving average is $19.35.
Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings data on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.03. The business earned $127.70 million during the quarter, compared to analysts’ expectations of $130.11 million. During the same period in the prior year, the firm posted $0.76 EPS. Hersha Hospitality Trust’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts predict that Hersha Hospitality Trust will post $2.48 earnings per share for the current fiscal year.
In other Hersha Hospitality Trust news, Chairman Hasu P. Shah acquired 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, with a total value of $57,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
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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