Hersha Hospitality Trust (NYSE:HT)‘s stock had its “hold” rating reiterated by Canaccord Genuity in a report released on Thursday. They presently have a $22.00 price target on the real estate investment trust’s stock. Canaccord Genuity’s price target indicates a potential upside of 6.33% from the stock’s current price.
Other analysts have also recently issued reports about the company. FBR & Co decreased their price objective on Hersha Hospitality Trust from $26.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, October 27th. Zacks Investment Research cut Hersha Hospitality Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $20.80.
Shares of Hersha Hospitality Trust (NYSE:HT) traded down 1.84% during mid-day trading on Thursday, hitting $20.31. The company had a trading volume of 247,962 shares. The firm has a 50-day moving average price of $21.10 and a 200 day moving average price of $19.32. Hersha Hospitality Trust has a 12 month low of $15.36 and a 12 month high of $22.15. The firm has a market capitalization of $849.77 million, a P/E ratio of 8.79 and a beta of 1.33.
Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings data on Wednesday, October 26th. The real estate investment trust reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. Hersha Hospitality Trust had a return on equity of 14.23% and a net margin of 22.37%. The company earned $120.60 million during the quarter, compared to analysts’ expectations of $116.01 million. During the same period last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that Hersha Hospitality Trust will post $2.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Thursday, January 5th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.41%. The ex-dividend date was Tuesday, January 3rd. Hersha Hospitality Trust’s payout ratio is currently 47.86%.
In other news, insider Neil H. Shah acquired 2,879 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was purchased at an average cost of $17.35 per share, with a total value of $49,950.65. Following the purchase, the insider now directly owns 291,987 shares of the company’s stock, valued at approximately $5,065,974.45. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay H. Shah acquired 1,429 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was purchased at an average cost of $17.50 per share, with a total value of $25,007.50. Following the completion of the purchase, the chief executive officer now directly owns 279,174 shares in the company, valued at $4,885,545. The disclosure for this purchase can be found here. Insiders purchased a total of 5,779 shares of company stock valued at $99,965 over the last ninety days. 7.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. increased its position in Hersha Hospitality Trust by 78.1% in the third quarter. Advisor Group Inc. now owns 6,032 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 2,646 shares during the last quarter. Teacher Retirement System of Texas increased its position in Hersha Hospitality Trust by 22.1% in the second quarter. Teacher Retirement System of Texas now owns 6,224 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 1,127 shares during the last quarter. SG Americas Securities LLC bought a new position in Hersha Hospitality Trust during the third quarter valued at $152,000. Mizuho Trust & Banking Co. Ltd. increased its position in Hersha Hospitality Trust by 28.3% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 10,963 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 2,415 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in Hersha Hospitality Trust during the third quarter valued at $231,000.
Hersha Hospitality Trust Company Profile
Hersha Hospitality Trust is a real estate investment trust. The Company operates through investment in hotel properties segment. It invests in institutional grade hotels in urban gateway markets, including New York, Washington District of Columbia (DC), Boston, Philadelphia, South Florida and select markets on the West Coast.