Real Estate Management Services LLC lessened its stake in shares of Hersha Hospitality Trust (NYSE:HT) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,090,346 shares of the real estate investment trust’s stock after selling 110,700 shares during the quarter. Hersha Hospitality Trust makes up 4.4% of Real Estate Management Services LLC’s holdings, making the stock its 10th biggest holding. Real Estate Management Services LLC’s holdings in Hersha Hospitality Trust were worth $18,972,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. bought a new stake in shares of Hersha Hospitality Trust in the fourth quarter worth $1,055,000. Bowling Portfolio Management LLC boosted its position in Hersha Hospitality Trust by 19.1% during the fourth quarter. Bowling Portfolio Management LLC now owns 57,449 shares of the real estate investment trust’s stock valued at $1,000,000 after acquiring an additional 9,196 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Hersha Hospitality Trust by 6.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 537,488 shares of the real estate investment trust’s stock valued at $9,353,000 after acquiring an additional 31,079 shares during the last quarter. Bank of Montreal Can boosted its position in Hersha Hospitality Trust by 241.9% during the fourth quarter. Bank of Montreal Can now owns 217,607 shares of the real estate investment trust’s stock valued at $3,786,000 after acquiring an additional 153,963 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. boosted its position in Hersha Hospitality Trust by 3.5% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 1,016,428 shares of the real estate investment trust’s stock valued at $17,686,000 after acquiring an additional 34,203 shares during the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Hersha Hospitality Trust (HT) traded up $0.05 during midday trading on Monday, hitting $18.61. 191,555 shares of the stock traded hands, compared to its average volume of 561,371. Hersha Hospitality Trust has a 52-week low of $17.15 and a 52-week high of $21.67. The firm has a market capitalization of $772.28, a price-to-earnings ratio of 8.62, a P/E/G ratio of 2.14 and a beta of 1.35. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.10.

Hersha Hospitality Trust announced that its board has authorized a share buyback program on Wednesday, January 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, January 5th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.12 annualized dividend and a dividend yield of 6.02%. Hersha Hospitality Trust’s dividend payout ratio is currently 52.09%.

In related news, insider Neil H. Shah acquired 2,850 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average price of $17.54 per share, for a total transaction of $49,989.00. Following the completion of the acquisition, the insider now owns 316,352 shares of the company’s stock, valued at $5,548,814.08. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Hasu P. Shah sold 14,500 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $17.48, for a total transaction of $253,460.00. The disclosure for this sale can be found here. Insiders have bought 11,319 shares of company stock worth $197,831 in the last quarter. Company insiders own 8.10% of the company’s stock.

A number of analysts have commented on HT shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $19.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday, October 12th. Robert W. Baird reaffirmed a “buy” rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday, October 12th. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. Wells Fargo & Co dropped their price objective on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Friday, October 27th. Finally, FBR & Co reiterated a “buy” rating and set a $20.00 price objective on shares of Hersha Hospitality Trust in a report on Friday, October 27th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Hersha Hospitality Trust has a consensus rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

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