B. Riley set a $20.00 target price on Hersha Hospitality Trust (NYSE:HT) in a research report sent to investors on Wednesday. The firm currently has a buy rating on the real estate investment trust’s stock.
A number of other equities analysts have also commented on HT. ValuEngine lowered shares of Hersha Hospitality Trust from a buy rating to a hold rating in a research note on Friday, February 2nd. Zacks Investment Research raised shares of Hersha Hospitality Trust from a sell rating to a hold rating in a research note on Thursday, February 1st. FBR & Co reaffirmed a buy rating and issued a $20.00 price objective on shares of Hersha Hospitality Trust in a research note on Friday, October 27th. Barclays lowered shares of Hersha Hospitality Trust from an equal weight rating to an underweight rating and decreased their price objective for the stock from $19.00 to $17.00 in a research note on Wednesday, December 13th. Finally, Wells Fargo & Co cut their target price on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a market perform rating for the company in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $19.20.
Hersha Hospitality Trust (NYSE:HT) opened at $17.36 on Wednesday. Hersha Hospitality Trust has a 52 week low of $17.10 and a 52 week high of $21.27. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $742.32, a P/E ratio of 8.07, a P/E/G ratio of 2.07 and a beta of 1.36.
Hersha Hospitality Trust announced that its board has initiated a share repurchase program on Wednesday, January 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Hersha Hospitality Trust news, Chairman Hasu P. Shah sold 14,500 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $17.48, for a total value of $253,460.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.10% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Hersha Hospitality Trust during the 3rd quarter valued at $135,000. Assetmark Inc. raised its holdings in shares of Hersha Hospitality Trust by 5,758.2% during the 4th quarter. Assetmark Inc. now owns 8,260 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 8,119 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Hersha Hospitality Trust during the 3rd quarter valued at $200,000. AMP Capital Investors Ltd bought a new position in shares of Hersha Hospitality Trust during the 4th quarter valued at $208,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Hersha Hospitality Trust during the 2nd quarter valued at $219,000. Institutional investors and hedge funds own 96.03% of the company’s stock.
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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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