Hersha Hospitality Trust (HT) Stock Rating Upgraded by Zacks Investment Research
Hersha Hospitality Trust (NYSE:HT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage presently has a $26.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.59% from the company’s current price.
According to Zacks, “Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focussed on the hospitality industry. Hersha currently owns, operates, and develops a portfolio of hotels and assisted living facilities in the mid-Atlantic region of the United States. (PRESS RELEASE) “
A number of other analysts also recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Hersha Hospitality Trust from $22.00 to $23.00 and gave the stock a “hold” rating in a report on Wednesday, August 29th. Robert W. Baird downgraded shares of Hersha Hospitality Trust from an “outperform” rating to a “neutral” rating in a report on Monday, August 20th. DA Davidson raised their price objective on shares of Hersha Hospitality Trust from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, June 22nd. Jefferies Financial Group initiated coverage on shares of Hersha Hospitality Trust in a report on Thursday, May 31st. They set a “hold” rating and a $22.00 price objective for the company. Finally, Barclays raised their price objective on shares of Hersha Hospitality Trust from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.11.
Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.12. Hersha Hospitality Trust had a negative net margin of 2.74% and a negative return on equity of 0.58%. The company had revenue of $133.84 million during the quarter, compared to the consensus estimate of $135.57 million. equities research analysts anticipate that Hersha Hospitality Trust will post 1.98 earnings per share for the current fiscal year.
In other news, Director Thomas J. Hutchison III sold 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 85,510 shares in the company, valued at $1,876,089.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in HT. Real Estate Management Services LLC purchased a new stake in Hersha Hospitality Trust in the second quarter valued at approximately $22,875,000. WINTON GROUP Ltd purchased a new stake in Hersha Hospitality Trust in the first quarter valued at approximately $6,320,000. Millennium Management LLC purchased a new stake in Hersha Hospitality Trust in the second quarter valued at approximately $5,183,000. Bank of Montreal Can purchased a new stake in Hersha Hospitality Trust in the second quarter valued at approximately $4,868,000. Finally, Renaissance Technologies LLC raised its stake in Hersha Hospitality Trust by 168.6% in the second quarter. Renaissance Technologies LLC now owns 246,800 shares of the real estate investment trust’s stock valued at $5,294,000 after purchasing an additional 154,900 shares in the last quarter. 92.40% of the stock is currently owned by institutional investors and hedge funds.
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 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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