Hersha Hospitality Trust (HT) COO Purchases $29,772.62 in Stock
Hersha Hospitality Trust (NYSE:HT) COO Neil H. Shah acquired 1,667 shares of the stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average price of $17.86 per share, for a total transaction of $29,772.62. Following the completion of the purchase, the chief operating officer now directly owns 297,418 shares in the company, valued at $5,311,885.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Hersha Hospitality Trust (HT) traded up 0.32% during mid-day trading on Friday, hitting $18.60. 135,314 shares of the company traded hands. Hersha Hospitality Trust has a one year low of $16.80 and a one year high of $22.14. The firm has a 50-day moving average of $18.39 and a 200-day moving average of $18.81. The stock has a market capitalization of $778.11 million, a price-to-earnings ratio of 8.16 and a beta of 1.38.
Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $138 million for the quarter, compared to analysts’ expectations of $134.55 million. During the same quarter last year, the business posted $0.89 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts predict that Hersha Hospitality Trust will post $2.23 earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of the company. Pinebridge Investments L.P. increased its stake in Hersha Hospitality Trust by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 54 shares during the period. State of Alaska Department of Revenue increased its stake 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 period. Municipal Employees Retirement System of Michigan bought a new stake in Hersha Hospitality Trust during the first quarter worth about $179,000. Mason Street Advisors LLC bought a new stake in Hersha Hospitality Trust during the first quarter worth about $184,000. Finally, KCG Holdings Inc. bought a new stake in Hersha Hospitality Trust during the first quarter worth about $200,000. Institutional investors and hedge funds own 98.54% of the company’s stock.
Several research analysts have recently weighed in on the stock. FBR & Co set a $20.00 price objective on shares of Hersha Hospitality Trust and gave the stock a “buy” rating in a research note on Monday, August 28th. BidaskClub upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. Stifel Nicolaus restated a “hold” rating and set a $20.00 price objective on shares of Hersha Hospitality Trust in a research note on Wednesday, July 19th. Finally, ValuEngine lowered shares of Hersha Hospitality Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $19.86.
Hersha Hospitality Trust Company Profile
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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