ValuEngine upgraded shares of Hersha Hospitality Trust (NYSE:HT) from a hold rating to a buy rating in a research note issued to investors on Friday, December 1st.
Several other research analysts have also recently weighed in on HT. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a hold rating to a sell rating in a report on Thursday, October 19th. Robert W. Baird restated a buy rating and issued a $20.00 price objective on shares of Hersha Hospitality Trust in a report on Thursday, October 12th. Stifel Nicolaus reiterated a hold rating and set a $19.00 price target on shares of Hersha Hospitality Trust in a research note on Thursday, October 12th. DA Davidson initiated coverage on shares of Hersha Hospitality Trust in a research note on Friday, September 29th. They set a buy rating and a $21.00 price target on the stock. Finally, FBR & Co set a $20.00 target price on shares of Hersha Hospitality Trust and gave the stock a buy rating in a research note on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Hersha Hospitality Trust presently has a consensus rating of Hold and a consensus price target of $19.60.
Shares of Hersha Hospitality Trust (NYSE:HT) traded up $0.11 during midday trading on Friday, reaching $17.53. 421,771 shares of the company traded hands, compared to its average volume of 449,917. The stock has a market cap of $724.85, a price-to-earnings ratio of 7.92, a PEG ratio of 2.12 and a beta of 1.34. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 0.67. Hersha Hospitality Trust has a 12 month low of $17.15 and a 12 month high of $22.01.
In other news, COO Neil H. Shah purchased 2,823 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was acquired at an average price of $17.71 per share, for a total transaction of $49,995.33. Following the completion of the transaction, the chief operating officer now directly owns 305,033 shares in the company, valued at approximately $5,402,134.43. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Neil H. Shah purchased 7,044 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was purchased at an average price of $17.44 per share, with a total value of $122,847.36. Following the transaction, the insider now owns 310,692 shares of the company’s stock, valued at $5,418,468.48. The disclosure for this purchase can be found here. Insiders bought 19,815 shares of company stock valued at $346,990 over the last three months. Corporate insiders own 8.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in HT. Pinebridge Investments L.P. boosted its stake in shares of Hersha Hospitality Trust by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 54 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Hersha Hospitality Trust during the third quarter valued at $135,000. State of Alaska Department of Revenue boosted its stake in shares of Hersha Hospitality Trust by 76.8% during the second quarter. State of Alaska Department of Revenue now owns 8,186 shares of the real estate investment trust’s stock valued at $151,000 after acquiring an additional 3,556 shares during the last quarter. KCG Holdings Inc. acquired a new stake in shares of Hersha Hospitality Trust during the first quarter valued at $200,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Hersha Hospitality Trust during the third quarter valued at $200,000. Institutional investors and hedge funds own 98.59% of the company’s stock.
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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.
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