Hersha Hospitality Trust (HT) Declares Quarterly Dividend of $0.28
Hersha Hospitality Trust (NYSE:HT) announced a quarterly dividend on Tuesday, September 18th, Wall Street Journal reports. Investors of record on Monday, October 1st will be given a dividend of 0.28 per share by the real estate investment trust on Monday, October 15th. This represents a $1.12 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, September 28th.
Hersha Hospitality Trust has raised its dividend payment by an average of 3.8% annually over the last three years. Hersha Hospitality Trust has a dividend payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hersha Hospitality Trust to earn $2.15 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 52.1%.
NYSE:HT opened at $22.66 on Thursday. Hersha Hospitality Trust has a 52 week low of $16.60 and a 52 week high of $24.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $901.41 million, a P/E ratio of 11.39, a PEG ratio of 2.11 and a beta of 1.30.
A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Wednesday, June 27th. Stifel Nicolaus increased their target price on shares of Hersha Hospitality Trust from $20.50 to $22.00 and gave the company a “hold” rating in a research report on Tuesday, June 26th. Barclays increased their target price on shares of Hersha Hospitality Trust from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Monday, July 30th. Jefferies Financial Group assumed coverage on shares of Hersha Hospitality Trust in a research report on Thursday, May 31st. They set a “hold” rating and a $22.00 target price for the company. Finally, DA Davidson increased their target price on shares of Hersha Hospitality Trust from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.11.
In other Hersha Hospitality Trust news, Director Thomas J. Hutchison III sold 10,000 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $21.94, for a total value of $219,400.00. Following the completion of the transaction, the director now owns 85,510 shares of the company’s stock, valued at $1,876,089.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 10.30% of the company’s stock.
About Hersha Hospitality Trust
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets and coastal destinations. The Company's 49 hotels totaling 7,653 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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