FBR & Co Lowers Hersha Hospitality Trust (HT) Price Target to $21.00
Hersha Hospitality Trust (NYSE:HT) had its target price decreased by FBR & Co from $23.00 to $21.00 in a report published on Thursday morning, MarketBeat.com reports. FBR & Co currently has an outperform rating on the real estate investment trust’s stock.
Several other research firms have also issued reports on HT. Zacks Investment Research lowered Hersha Hospitality Trust from a hold rating to a sell rating in a research note on Tuesday, June 27th. ValuEngine lowered Hersha Hospitality Trust from a strong-buy rating to a buy rating in a research note on Friday, June 2nd. Stifel Nicolaus decreased their target price on Hersha Hospitality Trust from $20.50 to $20.00 and set a hold rating on the stock in a research note on Wednesday, April 26th. Brean Capital reissued a buy rating and set a $16.00 target price on shares of Hersha Hospitality Trust in a research note on Monday, May 1st. Finally, JMP Securities lowered Hersha Hospitality Trust from an outperform rating to a market perform rating and set a $23.00 target price on the stock. in a research note on Monday, May 1st. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Hersha Hospitality Trust has a consensus rating of Hold and an average price target of $20.13.
Shares of Hersha Hospitality Trust (NYSE:HT) traded down 1.18% during trading on Thursday, hitting $18.47. The stock had a trading volume of 54,239 shares. The company’s 50 day moving average price is $18.76 and its 200 day moving average price is $19.21. The stock has a market cap of $772.67 million, a price-to-earnings ratio of 8.10 and a beta of 1.38. Hersha Hospitality Trust has a 12 month low of $16.80 and a 12 month high of $22.14.
Hersha Hospitality Trust (NYSE:HT) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by $0.02. Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. The firm had revenue of $138 million for the quarter, compared to analyst estimates of $134.55 million. During the same period in the previous year, the company posted $0.89 EPS. Hersha Hospitality Trust’s revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Hersha Hospitality Trust will post $1.98 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date was Wednesday, June 28th. Hersha Hospitality Trust’s dividend payout ratio is currently 48.70%.
In related news, COO Neil H. Shah purchased 1,400 shares of Hersha Hospitality Trust stock in a transaction on Tuesday, July 11th. The shares were bought at an average price of $18.00 per share, with a total value of $25,200.00. Following the transaction, the chief operating officer now directly owns 296,308 shares of the company’s stock, valued at $5,333,544. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. ProShare Advisors LLC bought a new stake in Hersha Hospitality Trust during the first quarter worth about $108,000. State of Alaska Department of Revenue increased its position in Hersha Hospitality Trust by 76.8% in the second quarter. State of Alaska Department of Revenue now owns 8,186 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 3,556 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Hersha Hospitality Trust during the first quarter worth approximately $179,000. Mason Street Advisors LLC acquired a new position in Hersha Hospitality Trust during the first quarter worth approximately $184,000. Finally, KCG Holdings Inc. acquired a new position in Hersha Hospitality Trust during the first quarter worth approximately $200,000. 96.55% of the stock is currently owned by institutional investors.
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 December 31, 2016, the Company’s portfolio consisted of 43 limited and full service properties with a total of 6,344 rooms and interests in 12 limited and full service properties owned through joint venture investments with a total of 2,456 rooms.
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