B. Riley Weighs in on Hersha Hospitality Trust’s Q1 2021 Earnings (NYSE:HT)

Hersha Hospitality Trust (NYSE:HT) – Investment analysts at B. Riley lowered their Q1 2021 earnings estimates for Hersha Hospitality Trust in a research note issued on Monday, March 23rd. B. Riley analyst B. Maher now anticipates that the real estate investment trust will post earnings per share of $0.05 for the quarter, down from their prior estimate of $0.12. B. Riley has a “Neutral” rating and a $4.00 price target on the stock.

Hersha Hospitality Trust (NYSE:HT) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.70). The business had revenue of $132.67 million for the quarter, compared to analyst estimates of $131.79 million. Hersha Hospitality Trust had a negative return on equity of 0.45% and a negative net margin of 0.76%.

Other equities analysts also recently issued reports about the company. DA Davidson downgraded Hersha Hospitality Trust from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $8.00 to $7.00 in a research report on Tuesday, March 10th. ValuEngine upgraded Hersha Hospitality Trust from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Barclays reiterated a “sell” rating and set a $3.00 price objective on shares of Hersha Hospitality Trust in a research report on Wednesday, March 18th. Finally, Deutsche Bank reduced their price objective on Hersha Hospitality Trust from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Hersha Hospitality Trust currently has a consensus rating of “Sell” and a consensus price target of $9.19.

Shares of NYSE HT opened at $4.45 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.30. The stock has a 50 day simple moving average of $9.91 and a 200-day simple moving average of $13.10. The company has a market cap of $145.21 million, a PE ratio of -5.93, a P/E/G ratio of 1.64 and a beta of 1.33. Hersha Hospitality Trust has a 12-month low of $2.29 and a 12-month high of $19.58.

A number of large investors have recently made changes to their positions in HT. PNC Financial Services Group Inc. raised its holdings in Hersha Hospitality Trust by 345.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,569 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 1,992 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Hersha Hospitality Trust by 47.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 8,050 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 2,600 shares in the last quarter. Emerald Advisers LLC bought a new position in shares of Hersha Hospitality Trust in the fourth quarter valued at $126,000. SG Americas Securities LLC bought a new position in shares of Hersha Hospitality Trust in the fourth quarter valued at $131,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Hersha Hospitality Trust by 40.6% in the fourth quarter. Victory Capital Management Inc. now owns 9,931 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 2,870 shares in the last quarter. 76.07% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Jay H. Shah bought 7,300 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were purchased at an average price of $13.51 per share, with a total value of $98,623.00. Following the completion of the acquisition, the chief executive officer now directly owns 316,349 shares in the company, valued at $4,273,874.99. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Neil H. Shah bought 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were purchased at an average cost of $7.56 per share, for a total transaction of $98,280.00. Following the acquisition, the chief operating officer now owns 471,132 shares of the company’s stock, valued at $3,561,757.92. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 112,356 shares of company stock worth $1,182,993. 11.80% of the stock is owned by corporate insiders.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, March 30th. This represents a $1.12 annualized dividend and a yield of 25.17%. Hersha Hospitality Trust’s payout ratio is 57.73%.

Hersha Hospitality Trust Company Profile

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale, luxury and lifestyle hotels in urban gateway markets and coastal destinations. The Company's 48 hotels totaling 7,644 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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Earnings History and Estimates for Hersha Hospitality Trust (NYSE:HT)

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