Hersha Hospitality Trust (HT) Earns Hold Rating from Stifel Nicolaus

Stifel Nicolaus reissued their hold rating on shares of Hersha Hospitality Trust (NYSE:HT) in a report published on Thursday morning. The firm currently has a $19.00 price objective on the real estate investment trust’s stock.

HT has been the subject of several other reports. ValuEngine cut shares of Hersha Hospitality Trust from a strong-buy rating to a buy rating in a research note on Friday, June 2nd. FBR & Co set a $20.00 target price on shares of Hersha Hospitality Trust and gave the stock a buy rating in a research note on Monday, August 28th. BidaskClub raised shares of Hersha Hospitality Trust from a sell rating to a hold rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research cut shares of Hersha Hospitality Trust from a hold rating to a sell rating in a research note on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Hersha Hospitality Trust currently has a consensus rating of Hold and an average target price of $19.75.

Hersha Hospitality Trust (NYSE HT) traded up 0.11% during midday trading on Thursday, hitting $18.00. The stock had a trading volume of 1,234,461 shares. Hersha Hospitality Trust has a 12-month low of $16.80 and a 12-month high of $22.14. The stock has a 50-day moving average price of $18.30 and a 200 day moving average price of $18.73. The firm has a market cap of $753.01 million, a P/E ratio of 7.89 and a beta of 1.38.

Hersha Hospitality Trust (NYSE:HT) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The firm had revenue of $138 million during the quarter, compared to analysts’ expectations of $134.55 million. Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, equities analysts anticipate that Hersha Hospitality Trust will post $2.23 earnings per share for the current fiscal year.

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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 cost of $18.00 per share, with a total value of $25,200.00. Following the purchase, 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 filing with the SEC, which is available through this link. Also, COO Neil H. Shah acquired 1,667 shares of the stock in a transaction dated Tuesday, August 29th. The shares were bought at an average cost of $17.86 per share, with a total value of $29,772.62. Following the completion of the purchase, the chief operating officer now directly owns 297,418 shares in the company, valued at $5,311,885.48. The disclosure for this purchase can be found here. Insiders have bought a total of 8,579 shares of company stock valued at $153,841 over the last three months. Corporate insiders own 8.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its stake in shares of Hersha Hospitality Trust by 2.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 462,499 shares of the real estate investment trust’s stock valued at $8,691,000 after buying an additional 12,450 shares during the period. Chicago Equity Partners LLC grew its stake in shares of Hersha Hospitality Trust by 404.5% during the 2nd quarter. Chicago Equity Partners LLC now owns 397,897 shares of the real estate investment trust’s stock valued at $7,365,000 after buying an additional 319,022 shares during the period. Quantbot Technologies LP grew its stake in shares of Hersha Hospitality Trust by 276.9% during the 1st quarter. Quantbot Technologies LP now owns 32,937 shares of the real estate investment trust’s stock valued at $618,000 after buying an additional 24,197 shares during the period. Prudential Financial Inc. grew its stake in shares of Hersha Hospitality Trust by 59.9% during the 1st quarter. Prudential Financial Inc. now owns 501,987 shares of the real estate investment trust’s stock valued at $9,432,000 after buying an additional 188,130 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Hersha Hospitality Trust by 93.0% during the 1st quarter. Legal & General Group Plc now owns 159,835 shares of the real estate investment trust’s stock valued at $3,002,000 after buying an additional 77,030 shares during the period. 98.54% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

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