Hersha Hospitality Trust (HT) Shares Bought by BlackRock Inc.

BlackRock Inc. grew its stake in Hersha Hospitality Trust (NYSE:HT) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,971,382 shares of the real estate investment trust’s stock after buying an additional 16,158 shares during the period. BlackRock Inc. owned 14.27% of Hersha Hospitality Trust worth $110,531,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in Hersha Hospitality Trust by 14.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 492,972 shares of the real estate investment trust’s stock worth $9,126,000 after purchasing an additional 61,222 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its stake in Hersha Hospitality Trust by 27.7% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 15,674 shares of the real estate investment trust’s stock worth $290,000 after purchasing an additional 3,400 shares during the period. Teachers Advisors LLC lifted its stake in shares of Hersha Hospitality Trust by 5.3% in the 2nd quarter. Teachers Advisors LLC now owns 649,529 shares of the real estate investment trust’s stock worth $12,023,000 after acquiring an additional 32,924 shares during the period. Martingale Asset Management L P lifted its stake in shares of Hersha Hospitality Trust by 4.0% in the 2nd quarter. Martingale Asset Management L P now owns 194,824 shares of the real estate investment trust’s stock worth $3,607,000 after acquiring an additional 7,498 shares during the period. Finally, Systematic Financial Management LP lifted its stake in shares of Hersha Hospitality Trust by 4.9% in the 2nd quarter. Systematic Financial Management LP now owns 88,120 shares of the real estate investment trust’s stock worth $1,631,000 after acquiring an additional 4,080 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

Shares of Hersha Hospitality Trust (HT) opened at 17.34 on Friday. The company has a 50 day moving average of $18.62 and a 200 day moving average of $18.61. The firm has a market capitalization of $725.40 million, a PE ratio of 7.61 and a beta of 1.39. Hersha Hospitality Trust has a 52-week low of $16.80 and a 52-week high of $22.14.

Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.02). The firm had revenue of $138.00 million during the quarter, compared to the consensus estimate of $134.55 million. Hersha Hospitality Trust had a net margin of 21.06% and a return on equity of 13.52%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. On average, analysts anticipate that Hersha Hospitality Trust will post $2.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.12 annualized dividend and a yield of 6.46%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is presently 52.09%.

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In other news, COO Neil H. Shah purchased 1,667 shares of Hersha Hospitality Trust stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average cost of $17.86 per share, for a total transaction of $29,772.62. Following the purchase, the chief operating officer now directly owns 297,418 shares of the company’s stock, valued at approximately $5,311,885.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Neil H. Shah purchased 4,165 shares of Hersha Hospitality Trust stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average price of $17.93 per share, with a total value of $74,678.45. Following the completion of the purchase, the insider now directly owns 297,418 shares in the company, valued at $5,332,704.74. The disclosure for this purchase can be found here. Insiders purchased a total of 8,679 shares of company stock valued at $155,506 over the last 90 days. 8.10% of the stock is currently owned by corporate insiders.

Several analysts have recently commented on the stock. FBR & Co restated a “buy” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a research note on Friday. Wells Fargo & Company reduced their target price on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Friday. Zacks Investment Research upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Thursday. Robert W. Baird reiterated a “buy” rating and issued a $20.00 price target on shares of Hersha Hospitality Trust in a report on Thursday, October 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $19.00 price target on shares of Hersha Hospitality Trust in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $19.60.

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.

Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

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