Hersha Hospitality Trust (HT) Receives New Coverage from Analysts at DA Davidson
DA Davidson initiated coverage on shares of Hersha Hospitality Trust (NYSE:HT) in a research note published on Friday, MarketBeat reports. The brokerage issued a buy rating and a $21.00 price objective on the real estate investment trust’s stock.
Several other analysts have also commented on HT. BidaskClub lowered shares of Hersha Hospitality Trust from a hold rating to a sell rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Hersha Hospitality Trust from a sell rating to a hold rating in a report on Friday, July 21st. Stifel Nicolaus reiterated a hold rating and issued a $20.00 price objective on shares of Hersha Hospitality Trust in a research report on Wednesday, July 19th. FBR & Co lowered their price objective on Hersha Hospitality Trust from $23.00 to $21.00 and set an outperform rating for the company in a research report on Thursday, July 27th. Finally, Robert W. Baird reissued a buy rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a research note on Friday, September 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Hersha Hospitality Trust presently has an average rating of Hold and an average target price of $19.89.
Hersha Hospitality Trust (NYSE:HT) opened at 18.87 on Friday. The stock has a market cap of $789.41 million, a price-to-earnings ratio of 8.28 and a beta of 1.39. The firm’s 50 day moving average price is $18.34 and its 200 day moving average price is $18.58. 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 released its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.02). The company had revenue of $138.00 million for the quarter, compared to analyst estimates of $134.55 million. Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. On average, equities research analysts predict that Hersha Hospitality Trust will post $2.23 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.94%. Hersha Hospitality Trust’s payout ratio is currently 48.70%.
In other news, insider Neil H. Shah bought 1,500 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was bought at an average cost of $17.91 per share, for a total transaction of $26,865.00. Following the acquisition, the insider now directly owns 302,210 shares of the company’s stock, valued at approximately $5,412,581.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Neil H. Shah bought 1,400 shares of the stock in a transaction that occurred on Tuesday, July 11th. The shares were purchased at an average price of $18.00 per share, with a total value of $25,200.00. Following the completion of the acquisition, the chief operating officer now directly owns 296,308 shares in the company, valued at $5,333,544. The disclosure for this purchase can be found here. In the last three months, insiders acquired 10,079 shares of company stock worth $180,706. 8.10% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Hersha Hospitality Trust by 8.7% in the 1st quarter. Vanguard Group Inc. now owns 7,032,015 shares of the real estate investment trust’s stock valued at $132,132,000 after buying an additional 561,377 shares during the period. BlackRock Inc. grew its stake in shares of Hersha Hospitality Trust by 0.3% in the second quarter. BlackRock Inc. now owns 5,971,382 shares of the real estate investment trust’s stock worth $110,531,000 after acquiring an additional 16,158 shares in the last quarter. Brookfield Asset Management Inc. grew its stake in shares of Hersha Hospitality Trust by 11.9% in the second quarter. Brookfield Asset Management Inc. now owns 3,371,560 shares of the real estate investment trust’s stock worth $62,408,000 after acquiring an additional 357,835 shares in the last quarter. State Street Corp grew its stake in shares of Hersha Hospitality Trust by 9.8% in the second quarter. State Street Corp now owns 1,820,283 shares of the real estate investment trust’s stock worth $33,697,000 after acquiring an additional 162,545 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Hersha Hospitality Trust by 2.1% in the second quarter. Northern Trust Corp now owns 828,119 shares of the real estate investment trust’s stock worth $15,328,000 after acquiring an additional 16,944 shares in the last quarter. Institutional investors own 98.38% of the company’s stock.
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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