Hersha Hospitality Trust (NYSE:HT) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.25-2.38 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.26.
Several equities research analysts recently issued reports on HT shares. BidaskClub raised Hersha Hospitality Trust from a sell rating to a hold rating in a research note on Wednesday. FBR & Co dropped their target price on Hersha Hospitality Trust from $23.00 to $21.00 and set an outperform rating on the stock in a research report on Thursday, July 27th. Stifel Nicolaus reaffirmed a hold rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a research report on Wednesday, July 19th. Zacks Investment Research raised Hersha Hospitality Trust from a sell rating to a hold rating in a report on Friday, July 21st. Finally, ValuEngine raised Hersha Hospitality Trust from a buy rating to a strong-buy rating in a report on Friday, May 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $20.13.
Hersha Hospitality Trust (NYSE:HT) traded up 1.76% during trading on Friday, hitting $18.50. The company had a trading volume of 260,293 shares. The stock has a 50-day moving average of $18.72 and a 200 day moving average of $19.17. Hersha Hospitality Trust has a one year low of $16.80 and a one year high of $22.14. The company has a market capitalization of $773.93 million, a price-to-earnings ratio of 8.11 and a beta of 1.38.
Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by $0.02. Hersha Hospitality Trust had a net margin of 22.77% and a return on equity of 14.78%. The company had revenue of $138 million for the quarter, compared to analysts’ expectations of $134.55 million. During the same quarter in the prior year, the firm earned $0.89 EPS. Hersha Hospitality Trust’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Hersha Hospitality Trust will post $2.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date was Wednesday, June 28th. Hersha Hospitality Trust’s payout ratio is 48.70%.
In other Hersha Hospitality Trust news, COO Neil H. Shah purchased 1,400 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $25,200.00. Following the completion of the transaction, the chief operating officer now owns 296,308 shares of the company’s stock, valued at $5,333,544. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.10% of the stock is owned by corporate insiders.
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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