Hersha Hospitality Trust (NYSE:HT) Upgraded to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Hersha Hospitality Trust (NYSE:HTGet Rating) from a hold rating to a strong-buy rating in a report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $12.00 price objective on the real estate investment trust’s stock.

According to Zacks, “Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focussed on the hospitality industry. Hersha currently owns, operates, and develops a portfolio of hotels and assisted living facilities in the mid-Atlantic region of the United States. (PRESS RELEASE) “

A number of other equities analysts have also commented on the company. StockNews.com raised Hersha Hospitality Trust from a sell rating to a hold rating in a research note on Saturday, April 30th. B. Riley lifted their target price on Hersha Hospitality Trust from $10.00 to $11.00 in a report on Tuesday, February 22nd. Wells Fargo & Company lowered their target price on Hersha Hospitality Trust from $11.50 to $11.00 and set an overweight rating for the company in a report on Thursday, March 10th. Oppenheimer began coverage on Hersha Hospitality Trust in a report on Thursday, April 21st. They issued an outperform rating and a $14.00 target price for the company. Finally, Stifel Nicolaus upgraded Hersha Hospitality Trust from a hold rating to a buy rating and lifted their target price for the stock from $11.00 to $14.50 in a report on Friday, May 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $11.56.

NYSE:HT opened at $9.97 on Wednesday. The stock’s 50-day simple moving average is $9.50 and its 200 day simple moving average is $9.49. Hersha Hospitality Trust has a twelve month low of $7.92 and a twelve month high of $12.42. The firm has a market capitalization of $392.32 million, a PE ratio of -4.33 and a beta of 2.25. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.53.

Hersha Hospitality Trust (NYSE:HTGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Hersha Hospitality Trust had a negative net margin of 21.97% and a negative return on equity of 10.87%. During the same period last year, the business earned ($0.36) EPS. On average, analysts anticipate that Hersha Hospitality Trust will post 0.86 EPS for the current fiscal year.

In other news, Director Michael A. Leven purchased 5,000 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were purchased at an average price of $20.20 per share, with a total value of $101,000.00. Following the transaction, the director now directly owns 45,000 shares of the company’s stock, valued at $909,000. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 20.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System increased its position in shares of Hersha Hospitality Trust by 3.8% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 29,114 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 1,062 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Hersha Hospitality Trust by 4.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 32,700 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 1,500 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Hersha Hospitality Trust by 7.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,996 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 1,564 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Hersha Hospitality Trust by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 533,736 shares of the real estate investment trust’s stock valued at $4,980,000 after purchasing an additional 1,715 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Hersha Hospitality Trust by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 664,832 shares of the real estate investment trust’s stock valued at $6,096,000 after purchasing an additional 2,088 shares during the last quarter. Institutional investors and hedge funds own 60.28% of the company’s stock.

Hersha Hospitality Trust Company Profile (Get Rating)

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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