Hersha Hospitality Trust (NYSE:HT)‘s stock had its “hold” rating reiterated by investment analysts at Stifel Nicolaus in a research note issued to investors on Wednesday, July 19th. They currently have a $20.00 price target on the real estate investment trust’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 8.58% from the stock’s previous close.
Several other brokerages also recently issued reports on HT. Zacks Investment Research downgraded shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. ValuEngine downgraded shares of Hersha Hospitality Trust from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Brean Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Hersha Hospitality Trust in a research report on Monday, May 1st. JMP Securities downgraded shares of Hersha Hospitality Trust from an “outperform” rating to a “market perform” rating and set a $23.00 target price for the company. in a research report on Monday, May 1st. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Hersha Hospitality Trust presently has a consensus rating of “Hold” and a consensus target price of $20.00.
Shares of Hersha Hospitality Trust (HT) traded up 0.60% during midday trading on Wednesday, hitting $18.42. 240,542 shares of the company’s stock were exchanged. Hersha Hospitality Trust has a 52 week low of $16.80 and a 52 week high of $22.14. The firm has a market cap of $770.58 million, a price-to-earnings ratio of 8.08 and a beta of 1.38. The company has a 50-day moving average of $18.48 and a 200-day moving average of $19.01.
Hersha Hospitality Trust (NYSE:HT) last issued its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by $0.02. Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. The company had revenue of $138 million for the quarter, compared to the consensus estimate of $134.55 million. During the same period in the prior year, the company earned $0.89 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Hersha Hospitality Trust will post $2.23 EPS for the current fiscal year.
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In other news, COO Neil H. Shah purchased 1,400 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $25,200.00. Following the completion of the purchase, the chief operating officer now directly owns 296,308 shares in the company, valued at approximately $5,333,544. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in HT. Pinebridge Investments L.P. boosted its stake in shares of Hersha Hospitality Trust by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 54 shares in the last quarter. Texas Permanent School Fund boosted its stake in Hersha Hospitality Trust by 0.8% in the second quarter. Texas Permanent School Fund now owns 30,498 shares of the real estate investment trust’s stock worth $565,000 after buying an additional 255 shares in the last quarter. M&T Bank Corp boosted its stake in Hersha Hospitality Trust by 1.1% in the second quarter. M&T Bank Corp now owns 28,042 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 298 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Hersha Hospitality Trust by 0.8% in the first quarter. Public Employees Retirement System of Ohio now owns 50,302 shares of the real estate investment trust’s stock worth $945,000 after buying an additional 403 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Hersha Hospitality Trust by 0.5% in the first quarter. Asset Management One Co. Ltd. now owns 95,155 shares of the real estate investment trust’s stock worth $1,775,000 after buying an additional 473 shares in the last quarter. Hedge funds and other institutional investors own 96.55% of the company’s stock.
About Hersha Hospitality Trust
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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