Jennison Associates LLC Sells 156,118 Shares of Hersha Hospitality Trust (HT)

Jennison Associates LLC Sells 156,118 Shares of Hersha Hospitality Trust (HT)

Jennison Associates LLC lowered its stake in shares of Hersha Hospitality Trust (NYSE:HT) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,956,782 shares of the real estate investment trust’s stock after selling 156,118 shares during the period. Jennison Associates LLC owned 9.44% of Hersha Hospitality Trust worth $71,301,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Nationwide Fund Advisors raised its position in Hersha Hospitality Trust by 0.3% in the third quarter. Nationwide Fund Advisors now owns 203,378 shares of the real estate investment trust’s stock valued at $3,665,000 after buying an additional 664 shares in the last quarter. Teacher Retirement System of Texas raised 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 in the last quarter. Mizuho Trust & Banking Co. Ltd. raised 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 in the last quarter. Swiss National Bank raised its position in Hersha Hospitality Trust by 3.6% in the second quarter. Swiss National Bank now owns 72,775 shares of the real estate investment trust’s stock valued at $1,248,000 after buying an additional 2,500 shares in the last quarter. Finally, AXA raised its position in Hersha Hospitality Trust by 2.9% in the second quarter. AXA now owns 119,325 shares of the real estate investment trust’s stock valued at $2,046,000 after buying an additional 3,400 shares in the last quarter.

Shares of Hersha Hospitality Trust (NYSE:HT) opened at 20.85 on Friday. Hersha Hospitality Trust has a 12-month low of $15.36 and a 12-month high of $22.15. The company has a market capitalization of $872.36 million, a P/E ratio of 9.02 and a beta of 1.33. The company has a 50-day moving average price of $21.05 and a 200 day moving average price of $19.45.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Thursday, January 5th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, January 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.37%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is presently 47.86%.

Several equities analysts have recently issued reports on the company. Canaccord Genuity reaffirmed a “hold” rating and issued a $22.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday, January 19th. FBR & Co lowered their price target 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. Finally, Zacks Investment Research lowered Hersha Hospitality Trust from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $20.80.

In related news, Director Thomas J. Hutchison III sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $21.34, for a total transaction of $170,720.00. Following the sale, the director now owns 58,181 shares of the company’s stock, valued at $1,241,582.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas J. Hutchison III sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 30th. The stock was sold at an average price of $20.07, for a total value of $200,700.00. Following the sale, the director now directly owns 66,181 shares in the company, valued at approximately $1,328,252.67. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 5,779 shares of company stock worth $99,965. Corporate insiders own 7.10% of the company’s stock.

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.

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