Millennium Management LLC boosted its position in shares of Hersha Hospitality Trust (NYSE:HT) by 204.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 163,922 shares of the real estate investment trust’s stock after purchasing an additional 110,127 shares during the quarter. Millennium Management LLC owned approximately 0.42% of Hersha Hospitality Trust worth $2,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Martingale Asset Management L P lifted its stake in Hersha Hospitality Trust by 21.7% in the third quarter. Martingale Asset Management L P now owns 206,082 shares of the real estate investment trust’s stock worth $4,672,000 after acquiring an additional 36,700 shares during the period. United Services Automobile Association lifted its stake in Hersha Hospitality Trust by 58.5% in the third quarter. United Services Automobile Association now owns 18,720 shares of the real estate investment trust’s stock worth $424,000 after acquiring an additional 6,906 shares during the period. Renaissance Technologies LLC lifted its stake in Hersha Hospitality Trust by 157.0% in the third quarter. Renaissance Technologies LLC now owns 634,300 shares of the real estate investment trust’s stock worth $14,380,000 after acquiring an additional 387,500 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Hersha Hospitality Trust in the third quarter worth about $262,000. Finally, LPL Financial LLC purchased a new stake in Hersha Hospitality Trust in the third quarter worth about $504,000. Institutional investors own 99.78% of the company’s stock.

HT stock opened at $17.89 on Monday. The stock has a market cap of $701.02 million, a price-to-earnings ratio of 8.13, a PEG ratio of 1.87 and a beta of 1.42. Hersha Hospitality Trust has a one year low of $16.50 and a one year high of $24.16. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 1.09.

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 6.26%. The ex-dividend date was Thursday, March 28th. Hersha Hospitality Trust’s payout ratio is 50.91%.

A number of research firms recently weighed in on HT. Raymond James lowered shares of Hersha Hospitality Trust from a “mkt perform” rating to an “underperform” rating in a research note on Tuesday, January 8th. ValuEngine raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, Deutsche Bank reissued a “hold” rating and set a $18.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday, February 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $20.31.

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Hersha Hospitality Trust Company Profile

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale, luxury and lifestyle hotels in urban gateway markets and coastal destinations. The Company's 48 hotels totaling 7,644 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

Further Reading: Why do companies pay special dividends?

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Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

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