Equities research analysts expect that Hersha Hospitality Trust (NYSE:HT) will report $115.82 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Hersha Hospitality Trust’s earnings. The lowest sales estimate is $113.62 million and the highest is $119.90 million. Hersha Hospitality Trust posted sales of $111.45 million during the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The company is expected to announce its next earnings report after the market closes on Wednesday, February 21st.
According to Zacks, analysts expect that Hersha Hospitality Trust will report full year sales of $115.82 million for the current fiscal year, with estimates ranging from $489.20 million to $495.50 million. For the next year, analysts forecast that the company will post sales of $505.45 million per share, with estimates ranging from $491.10 million to $517.16 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Hersha Hospitality Trust.
A number of analysts have commented on the company. B. Riley reaffirmed a “buy” rating on shares of Hersha Hospitality Trust in a research report on Wednesday, November 1st. ValuEngine cut Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Wells Fargo & Co decreased their price objective on Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Friday, October 27th. Finally, Barclays cut Hersha Hospitality Trust from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $19.00 to $17.00 in a report on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Hersha Hospitality Trust presently has an average rating of “Hold” and an average target price of $19.11.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Hersha Hospitality Trust by 9.2% in the 4th quarter. BlackRock Inc. now owns 6,637,774 shares of the real estate investment trust’s stock valued at $115,498,000 after purchasing an additional 558,297 shares in the last quarter. State Street Corp increased its stake in shares of Hersha Hospitality Trust by 9.8% in the 2nd quarter. State Street Corp now owns 1,820,283 shares of the real estate investment trust’s stock valued at $33,697,000 after purchasing an additional 162,545 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Hersha Hospitality Trust by 3.5% in the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 1,016,428 shares of the real estate investment trust’s stock valued at $17,686,000 after purchasing an additional 34,203 shares in the last quarter. Northern Trust Corp increased its stake in shares of Hersha Hospitality Trust by 2.1% in the 2nd quarter. Northern Trust Corp now owns 828,119 shares of the real estate investment trust’s stock valued at $15,328,000 after purchasing an additional 16,944 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Hersha Hospitality Trust by 4.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 722,227 shares of the real estate investment trust’s stock worth $13,484,000 after buying an additional 29,014 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.
Shares of Hersha Hospitality Trust (HT) opened at $18.04 on Tuesday. Hersha Hospitality Trust has a 52-week low of $17.10 and a 52-week high of $21.35. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $750.64, a PE ratio of 8.39, a price-to-earnings-growth ratio of 2.09 and a beta of 1.36.
Hersha Hospitality Trust declared that its Board of Directors has initiated a stock buyback plan 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. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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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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