Hersha Hospitality Trust (NYSE:HT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, October 26th.
According to Zacks, “Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focussed on the hospitality industry. Hersha currently owns, operates, and develops a portfolio of hotels and assisted living facilities in the mid-Atlantic region of the United States. (PRESS RELEASE) “
HT has been the subject of a number of other reports. FBR & Co set a $20.00 price objective on Hersha Hospitality Trust and gave the stock a “buy” rating in a research report on Monday, August 28th. Robert W. Baird reiterated a “buy” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a report on Friday, September 8th. Stifel Nicolaus reiterated a “hold” rating and issued a $19.00 target price on shares of Hersha Hospitality Trust in a report on Thursday, September 7th. BidaskClub upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, DA Davidson started coverage on Hersha Hospitality Trust in a report on Friday, September 29th. They issued a “buy” rating and a $21.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $19.60.
Shares of Hersha Hospitality Trust (NYSE HT) traded down $0.06 on Thursday, hitting $17.65. The stock had a trading volume of 396,200 shares, compared to its average volume of 457,262. Hersha Hospitality Trust has a 52 week low of $17.15 and a 52 week high of $22.14. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $736.91, a P/E ratio of 8.05, a price-to-earnings-growth ratio of 2.15 and a beta of 1.35.
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In other Hersha Hospitality Trust news, COO Neil H. Shah acquired 1,667 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were acquired at an average price of $17.86 per share, with a total value of $29,772.62. Following the completion of the transaction, the chief operating officer now owns 297,418 shares in the company, valued at $5,311,885.48. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Neil H. Shah acquired 7,044 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was acquired at an average cost of $17.44 per share, for a total transaction of $122,847.36. Following the transaction, the insider now owns 310,692 shares of the company’s stock, valued at approximately $5,418,468.48. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 28,494 shares of company stock worth $502,496. 8.10% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of HT. UBS Asset Management Americas Inc. boosted its position in Hersha Hospitality Trust by 55.8% in the first quarter. UBS Asset Management Americas Inc. now owns 62,911 shares of the real estate investment trust’s stock worth $1,182,000 after purchasing an additional 22,544 shares during the last quarter. Arizona State Retirement System bought a new stake in shares of Hersha Hospitality Trust in the first quarter valued at $408,000. American International Group Inc. raised its stake in shares of Hersha Hospitality Trust by 7.0% in the first quarter. American International Group Inc. now owns 25,483 shares of the real estate investment trust’s stock valued at $479,000 after buying an additional 1,668 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in shares of Hersha Hospitality Trust in the first quarter valued at $179,000. Finally, Credit Agricole S A raised its stake in shares of Hersha Hospitality Trust by 18.1% in the first quarter. Credit Agricole S A now owns 22,773 shares of the real estate investment trust’s stock valued at $428,000 after buying an additional 3,489 shares during the period. 98.46% of the stock is currently owned by institutional investors and hedge funds.
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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