Hersha Hospitality Trust (HT) Chairman Hasu P. Shah Sells 14,500 Shares of Stock
Hersha Hospitality Trust (NYSE:HT) Chairman Hasu P. Shah sold 14,500 shares of Hersha Hospitality Trust stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $17.48, for a total value of $253,460.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Hersha Hospitality Trust (HT) opened at $17.51 on Wednesday. Hersha Hospitality Trust has a 52 week low of $17.15 and a 52 week high of $21.67. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $724.01, a price-to-earnings ratio of 8.14, a PEG ratio of 2.01 and a beta of 1.35.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, January 5th will be paid a $0.28 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.12 annualized dividend and a dividend yield of 6.40%. Hersha Hospitality Trust’s payout ratio is 52.09%.
Institutional investors and hedge funds have recently modified their holdings of the company. Pinebridge Investments L.P. increased its stake in shares of Hersha Hospitality Trust by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 54 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Hersha Hospitality Trust in the 3rd quarter valued at $135,000. Stevens Capital Management LP bought a new position in shares of Hersha Hospitality Trust in the 3rd quarter valued at $200,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Hersha Hospitality Trust in the 2nd quarter valued at $219,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Hersha Hospitality Trust in the 3rd quarter valued at $258,000. Institutional investors own 98.59% of the company’s stock.
Several brokerages have weighed in on HT. Zacks Investment Research cut Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. Robert W. Baird reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Hersha Hospitality Trust in a report on Thursday, October 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Hersha Hospitality Trust in a report on Thursday, October 12th. DA Davidson began coverage on Hersha Hospitality Trust in a report on Friday, September 29th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, ValuEngine raised Hersha Hospitality Trust from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $19.40.
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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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