Hersha Hospitality Trust’s (HT) Buy Rating Reiterated at Robert W. Baird

Robert W. Baird reiterated their buy rating on shares of Hersha Hospitality Trust (NYSE:HT) in a report published on Thursday morning. Robert W. Baird currently has a $20.00 target price on the real estate investment trust’s stock.

HT has been the subject of several other reports. Stifel Nicolaus restated a hold rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a report on Wednesday, July 19th. FBR & Co set a $20.00 target price on Hersha Hospitality Trust and gave the company a buy rating in a report on Monday, August 28th. BidaskClub upgraded Hersha Hospitality Trust from a sell rating to a hold rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Hersha Hospitality Trust from a sell rating to a hold rating in a report on Friday, July 21st. Finally, DA Davidson began coverage on Hersha Hospitality Trust in a report on Friday, September 29th. They set a buy rating and a $21.00 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Hersha Hospitality Trust has an average rating of Hold and an average price target of $19.89.

Shares of Hersha Hospitality Trust (HT) traded up 0.62% during mid-day trading on Thursday, hitting $19.40. The stock had a trading volume of 365,430 shares. The firm has a 50 day moving average price of $18.51 and a 200-day moving average price of $18.60. The stock has a market cap of $811.58 million, a P/E ratio of 8.51 and a beta of 1.39. Hersha Hospitality Trust has a 12 month low of $16.80 and a 12 month high of $22.14.

Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. The firm had revenue of $138.00 million during the quarter, compared to analysts’ expectations of $134.55 million. During the same quarter in the previous year, the company posted $0.89 earnings per share. Hersha Hospitality Trust’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Hersha Hospitality Trust will post $2.23 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.77%. The ex-dividend date was Thursday, September 28th. Hersha Hospitality Trust’s dividend payout ratio (DPR) is currently 48.70%.

In other Hersha Hospitality Trust news, insider Neil H. Shah acquired 4,165 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was acquired at an average price of $17.93 per share, for a total transaction of $74,678.45. Following the acquisition, the insider now owns 297,418 shares in the company, valued at approximately $5,332,704.74. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Neil H. Shah acquired 1,667 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $17.86 per share, with a total value of $29,772.62. Following the acquisition, the chief operating officer now owns 297,418 shares in the company, valued at approximately $5,311,885.48. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 8,679 shares of company stock valued at $155,506. Company insiders own 8.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HT. BlackRock Inc. lifted its holdings in Hersha Hospitality Trust by 10,630.7% in the 1st quarter. BlackRock Inc. now owns 5,955,224 shares of the real estate investment trust’s stock worth $111,899,000 after buying an additional 5,899,727 shares during the period. Brookfield Asset Management Inc. lifted its holdings in Hersha Hospitality Trust by 30.6% in the 1st quarter. Brookfield Asset Management Inc. now owns 3,013,725 shares of the real estate investment trust’s stock worth $56,628,000 after buying an additional 705,256 shares during the period. Vanguard Group Inc. lifted its holdings in Hersha Hospitality Trust by 8.7% in the 1st quarter. Vanguard Group Inc. now owns 7,032,015 shares of the real estate investment trust’s stock worth $132,132,000 after buying an additional 561,377 shares during the period. Nuveen Asset Management LLC lifted its holdings in Hersha Hospitality Trust by 265.5% in the 1st quarter. Nuveen Asset Management LLC now owns 566,490 shares of the real estate investment trust’s stock worth $10,644,000 after buying an additional 411,508 shares during the period. Finally, Morgan Stanley lifted its holdings in Hersha Hospitality Trust by 269.6% in the 1st quarter. Morgan Stanley now owns 454,552 shares of the real estate investment trust’s stock worth $8,543,000 after buying an additional 331,554 shares during the period. Institutional investors and hedge funds own 98.38% of the company’s stock.

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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