Hersha Hospitality Trust (NYSE:HT) issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by $0.02, Bloomberg Earnings reports. The company had revenue of $138 million during the quarter, compared to analyst estimates of $134.55 million. Hersha Hospitality Trust had a net margin of 22.77% and a return on equity of 14.78%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Hersha Hospitality Trust updated its FY17 guidance to $2.25-2.38 EPS.
Hersha Hospitality Trust (NYSE HT) traded up 1.76% during trading on Friday, hitting $18.50. 260,293 shares of the stock traded hands. Hersha Hospitality Trust has a one year low of $16.80 and a one year high of $22.14. The company’s 50 day moving average is $18.72 and its 200 day moving average is $19.17. The company has a market capitalization of $773.93 million, a P/E ratio of 8.11 and a beta of 1.38.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend was Wednesday, June 28th. Hersha Hospitality Trust’s payout ratio is 48.70%.
In related news, COO Neil H. Shah acquired 1,400 shares of the stock in a transaction dated Tuesday, July 11th. The stock was bought at an average price of $18.00 per share, with a total value of $25,200.00. Following the completion of the transaction, the chief operating officer now directly owns 296,308 shares of the company’s stock, valued at $5,333,544. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.10% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Two Sigma Investments LP acquired a new position in Hersha Hospitality Trust during the fourth quarter worth $890,000. Norges Bank acquired a new position in Hersha Hospitality Trust during the fourth quarter worth $7,881,000. Teachers Advisors LLC increased its position in Hersha Hospitality Trust by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 599,929 shares of the real estate investment trust’s stock worth $12,898,000 after buying an additional 3,526 shares during the period. Louisiana State Employees Retirement System acquired a new position in Hersha Hospitality Trust during the first quarter worth $319,000. Finally, James Investment Research Inc. increased its position in Hersha Hospitality Trust by 1,676.7% in the first quarter. James Investment Research Inc. now owns 91,411 shares of the real estate investment trust’s stock worth $1,718,000 after buying an additional 86,266 shares during the period. 96.55% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on the company. JMP Securities cut Hersha Hospitality Trust from an “outperform” rating to a “market perform” rating and set a $23.00 price target on the stock. in a report on Monday, May 1st. They noted that the move was a valuation call. Stifel Nicolaus dropped their target price on Hersha Hospitality Trust from $20.50 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, April 26th. ValuEngine raised Hersha Hospitality Trust from a “buy” rating to a “strong-buy” rating in a report on Friday, May 19th. 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 report on Thursday, July 27th. Finally, Zacks Investment Research raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Hersha Hospitality Trust has an average rating of “Hold” and an average target price of $20.13.
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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