Hersha Hospitality Trust (NYSE:HT) Receives $7.19 Consensus Target Price from Brokerages

Shares of Hersha Hospitality Trust (NYSE:HT) have earned an average rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.19.

HT has been the subject of several analyst reports. Robert W. Baird reissued a “hold” rating and issued a $10.00 price target on shares of Hersha Hospitality Trust in a report on Friday, March 19th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $8.00 price objective (up previously from $7.00) on shares of Hersha Hospitality Trust in a research report on Thursday, February 25th. B. Riley raised their price objective on shares of Hersha Hospitality Trust from $8.00 to $9.50 and gave the company a “neutral” rating in a research report on Thursday, March 4th. Finally, Zacks Investment Research upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 24th.

Shares of NYSE:HT opened at $10.65 on Monday. The firm has a fifty day moving average price of $11.07 and a two-hundred day moving average price of $8.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.16 and a quick ratio of 0.16. Hersha Hospitality Trust has a one year low of $3.62 and a one year high of $13.05. The company has a market cap of $416.76 million, a price-to-earnings ratio of -2.65 and a beta of 2.79.

Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings results on Tuesday, February 23rd. The real estate investment trust reported ($1.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by ($0.70). Hersha Hospitality Trust had a negative net margin of 51.54% and a negative return on equity of 17.94%. Equities research analysts expect that Hersha Hospitality Trust will post -1.7 EPS for the current fiscal year.

In other Hersha Hospitality Trust news, Director Thomas J. Hutchison III sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 30th. The shares were sold at an average price of $10.92, for a total value of $109,200.00. Following the transaction, the director now owns 108,842 shares in the company, valued at $1,188,554.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.90% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in HT. Amundi Pioneer Asset Management Inc. increased its position in shares of Hersha Hospitality Trust by 407.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 308,332 shares of the real estate investment trust’s stock valued at $5,285,000 after acquiring an additional 247,542 shares during the period. California Public Employees Retirement System boosted its stake in shares of Hersha Hospitality Trust by 4.4% during the 3rd quarter. California Public Employees Retirement System now owns 81,119 shares of the real estate investment trust’s stock valued at $449,000 after purchasing an additional 3,400 shares in the last quarter. LPL Financial LLC bought a new stake in shares of Hersha Hospitality Trust during the 3rd quarter valued at about $95,000. JPMorgan Chase & Co. boosted its stake in shares of Hersha Hospitality Trust by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 260,980 shares of the real estate investment trust’s stock valued at $1,451,000 after purchasing an additional 141,867 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Hersha Hospitality Trust by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 764,270 shares of the real estate investment trust’s stock valued at $4,235,000 after purchasing an additional 35,420 shares in the last quarter. Hedge funds and other institutional investors own 69.18% of the company’s stock.

About Hersha Hospitality Trust

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale and lifestyle hotels in urban gateway markets and resort destinations. The Company's 49 hotels totaling 7,774 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

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