Shares of Hersha Hospitality Trust (NYSE:HT) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the stock. Eleven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.90.
Several equities analysts have recently issued reports on the stock. Deutsche Bank AG reissued a “hold” rating and issued a $21.00 price target on shares of Hersha Hospitality Trust in a report on Sunday, June 26th. Canaccord Genuity reaffirmed a “hold” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a research note on Friday, July 29th. Zacks Investment Research raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Barclays PLC reduced their target price on shares of Hersha Hospitality Trust from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, July 29th. Finally, Royal Bank Of Canada reduced their target price on shares of 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.
In related news, Chairman Hasu P. Shah purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were acquired at an average price of $19.00 per share, for a total transaction of $57,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jay H. Shah purchased 4,700 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The stock was bought at an average price of $18.40 per share, for a total transaction of $86,480.00. Following the purchase, the chief executive officer now owns 275,730 shares in the company, valued at approximately $5,073,432. The disclosure for this purchase can be found here. 7.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Hersha Hospitality Trust during the fourth quarter worth approximately $9,826,000. Glenmede Trust Co. NA raised its position in shares of Hersha Hospitality Trust by 312.1% in the first quarter. Glenmede Trust Co. NA now owns 77,220 shares of the real estate investment trust’s stock worth $1,647,000 after buying an additional 58,480 shares during the period. Teachers Advisors Inc. raised its position in shares of Hersha Hospitality Trust by 433.0% in the first quarter. Teachers Advisors Inc. now owns 378,385 shares of the real estate investment trust’s stock worth $8,075,000 after buying an additional 307,400 shares during the period. Prudential Financial Inc. bought a new position in shares of Hersha Hospitality Trust during the first quarter worth approximately $642,000. Finally, BlackRock Inc. raised its position in shares of Hersha Hospitality Trust by 3.6% in the first quarter. BlackRock Inc. now owns 37,692 shares of the real estate investment trust’s stock worth $805,000 after buying an additional 1,320 shares during the period.
Shares of Hersha Hospitality Trust (NYSE:HT) traded up 1.16% during midday trading on Tuesday, hitting $18.28. The stock had a trading volume of 157,246 shares. The firm has a market capitalization of $775.57 million, a PE ratio of 7.63 and a beta of 1.52. The company’s 50 day moving average price is $18.90 and its 200-day moving average price is $19.01. Hersha Hospitality Trust has a 1-year low of $15.36 and a 1-year high of $25.63.
Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. Hersha Hospitality Trust had a net margin of 24.39% and a return on equity of 15.88%. The company earned $127.70 million during the quarter, compared to analyst estimates of $130.11 million. During the same quarter in the previous year, the business earned $0.76 EPS. The firm’s revenue was up .5% on a year-over-year basis. Equities analysts predict that Hersha Hospitality Trust will post $2.48 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.20%. Hersha Hospitality Trust’s payout ratio is 45.16%.
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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