Hersha Hospitality Trust (HT) Upgraded to “Buy” by ValuEngine
ValuEngine upgraded shares of Hersha Hospitality Trust (NYSE:HT) from a hold rating to a buy rating in a report published on Friday morning.
Several other equities analysts have also recently commented on HT. FBR & Co set a $20.00 price target on Hersha Hospitality Trust and gave the company a buy rating in a report on Monday, August 28th. Stifel Nicolaus reaffirmed a hold rating and issued a $19.00 price target on shares of Hersha Hospitality Trust in a report on Thursday, September 7th. Robert W. Baird reaffirmed a buy rating and issued a $20.00 price target on shares of Hersha Hospitality Trust in a report on Friday, September 8th. DA Davidson initiated coverage on Hersha Hospitality Trust in a report on Friday, September 29th. They issued a buy rating and a $21.00 price target for the company. Finally, Zacks Investment Research cut Hersha Hospitality Trust from a hold rating to a sell rating in a report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $19.60.
Hersha Hospitality Trust (NYSE HT) traded up $0.04 during trading on Friday, reaching $17.59. The company’s stock had a trading volume of 491,864 shares, compared to its average volume of 388,959. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $730.26, a PE ratio of 7.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.34. Hersha Hospitality Trust has a 12-month low of $17.15 and a 12-month high of $22.14.
In related news, insider Neil H. Shah bought 7,044 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was acquired at an average cost of $17.44 per share, with a total value of $122,847.36. Following the acquisition, the insider now owns 310,692 shares in the company, valued at approximately $5,418,468.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Neil H. Shah purchased 5,673 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were acquired at an average price of $17.48 per share, for a total transaction of $99,164.04. Following the completion of the transaction, the insider now owns 305,033 shares in the company, valued at $5,331,976.84. The disclosure for this purchase can be found here. Over the last three months, insiders bought 21,552 shares of company stock valued at $378,109. 8.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. grew its position in Hersha Hospitality Trust by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 54 shares during the last quarter. SG Americas Securities LLC bought a new stake in Hersha Hospitality Trust during the 3rd quarter worth approximately $135,000. State of Alaska Department of Revenue grew its position in Hersha Hospitality Trust by 76.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,186 shares of the real estate investment trust’s stock worth $151,000 after acquiring an additional 3,556 shares during the last quarter. KCG Holdings Inc. bought a new stake in Hersha Hospitality Trust during the 1st quarter worth approximately $200,000. Finally, Stevens Capital Management LP bought a new stake in Hersha Hospitality Trust during the 3rd quarter worth approximately $200,000. Institutional investors and hedge funds own 98.61% of the company’s stock.
About Hersha Hospitality Trust
Hersha Hospitality Trust is a self-advised real estate investment trust (REIT). The Company invests primarily in institutional grade hotels in urban gateway markets, including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and select markets on the West Coast. As of July 20, 2017, the Company’s hotels included 51 hotels totaling 7,804 rooms located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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