Zacks Investment Research upgraded shares of Hersha Hospitality Trust (NYSE:HT) from a sell rating to a hold rating in a research note released on Friday morning.

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) “

HT has been the topic of a number of other research reports. FBR & Co set a $20.00 price target on shares of Hersha Hospitality Trust and gave the company a buy rating in a research report on Monday, August 28th. 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 Friday, September 8th. BidaskClub raised shares of Hersha Hospitality Trust from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a hold rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a research report on Wednesday, July 19th. Finally, Wells Fargo & Company cut their price target on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a market perform rating on the stock in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $19.60.

Shares of Hersha Hospitality Trust (NYSE:HT) opened at $17.52 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The company has a market cap of $734.42, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 2.15 and a beta of 1.35. Hersha Hospitality Trust has a 1 year low of $17.15 and a 1 year high of $22.14.

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In other Hersha Hospitality Trust news, insider Neil H. Shah bought 1,500 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were bought at an average price 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Neil H. Shah bought 1,667 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average price of $17.86 per share, for a total transaction of $29,772.62. Following the acquisition, the chief operating officer now directly owns 297,418 shares in the company, valued at $5,311,885.48. The disclosure for this purchase can be found here. Insiders have bought 28,494 shares of company stock worth $502,496 in the last quarter. Company insiders own 8.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of 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 worth $132,132,000 after acquiring an additional 561,377 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Hersha Hospitality Trust by 0.3% in the 2nd 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 during the last quarter. Brookfield Asset Management Inc. raised its holdings in shares of Hersha Hospitality Trust by 11.9% in the 2nd 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 during the last quarter. State Street Corp raised its holdings in shares of Hersha Hospitality Trust by 9.8% in the 2nd 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 during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Hersha Hospitality Trust by 2.1% in the 2nd 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 during the last quarter. Institutional investors own 98.35% of the company’s stock.

Hersha Hospitality Trust Company Profile

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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Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

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