Zacks Investment Research lowered shares of Hersha Hospitality Trust (NYSE:HT) from a hold rating to a sell rating in a research note issued to investors on Wednesday, November 1st.
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) “
Several other brokerages also recently issued reports on HT. Stifel Nicolaus reissued a hold rating and set a $19.00 price objective on shares of Hersha Hospitality Trust in a research report on Thursday, September 7th. DA Davidson began coverage on shares of Hersha Hospitality Trust in a research report on Friday, September 29th. They issued a buy rating and a $21.00 target price for the company. FBR & Co decreased their target price on shares of Hersha Hospitality Trust from $23.00 to $21.00 and set an outperform rating for the company in a research report on Thursday, July 27th. Robert W. Baird reissued a buy rating and issued a $20.00 price objective on shares of Hersha Hospitality Trust in a research report on Friday, September 8th. Finally, BidaskClub downgraded shares of Hersha Hospitality Trust from a hold rating to a sell rating in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Hersha Hospitality Trust has an average rating of Hold and a consensus price target of $19.60.
Shares of Hersha Hospitality Trust (NYSE HT) opened at $17.65 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.10. Hersha Hospitality Trust has a twelve month low of $17.15 and a twelve month high of $22.14. The firm has a market cap of $734.42, a price-to-earnings ratio of 8.02, a price-to-earnings-growth ratio of 2.15 and a beta of 1.35.
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The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.35%. The ex-dividend date of this dividend was Thursday, September 28th. Hersha Hospitality Trust’s dividend payout ratio is presently 52.09%.
In related news, COO Neil H. Shah bought 1,667 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average price of $17.86 per share, for a total transaction of $29,772.62. Following the purchase, the chief operating officer now owns 297,418 shares in the company, valued at approximately $5,311,885.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Neil H. Shah acquired 2,850 shares of the company’s stock in a transaction on Monday, November 6th. The stock was acquired at an average price of $17.54 per share, with a total value of $49,989.00. Following the purchase, the insider now directly owns 316,352 shares in the company, valued at $5,548,814.08. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 28,494 shares of company stock valued at $502,496. 8.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of HT. BlackRock Inc. raised its stake 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 purchasing an additional 5,899,727 shares in the last quarter. Vanguard Group Inc. raised its stake 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 purchasing an additional 561,377 shares in the last quarter. Nuveen Asset Management LLC raised its stake 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 purchasing an additional 411,508 shares in the last quarter. Brookfield Asset Management Inc. raised its stake in Hersha Hospitality Trust by 11.9% in the 2nd quarter. Brookfield Asset Management Inc. now owns 3,371,560 shares of the real estate investment trust’s stock worth $62,408,000 after purchasing an additional 357,835 shares in the last quarter. Finally, Morgan Stanley raised its stake 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 purchasing an additional 331,554 shares in the last quarter. Institutional investors and hedge funds own 98.46% of the company’s stock.
Hersha Hospitality Trust Company Profile
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.
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