Press coverage about Hersha Hospitality Trust (NYSE:HT) has trended somewhat positive on Saturday, according to Accern. The research group identifies positive and negative news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Hersha Hospitality Trust earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned media coverage about the real estate investment trust an impact score of 45.6576356027388 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
A number of analysts recently issued reports on HT shares. Stifel Nicolaus restated a “hold” rating and issued a $19.00 price target on shares of Hersha Hospitality Trust in a research note on Thursday, October 12th. Robert W. Baird reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Hersha Hospitality Trust in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Thursday, October 19th. Wells Fargo & Co reduced their price target on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Friday, October 27th. Finally, FBR & Co reissued a “buy” rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $19.40.
Shares of Hersha Hospitality Trust (HT) traded down $0.44 during trading on Friday, reaching $18.10. 378,511 shares of the company’s stock traded hands, compared to its average volume of 499,587. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $771.45, a PE ratio of 8.42, a PEG ratio of 2.14 and a beta of 1.36. Hersha Hospitality Trust has a 12-month low of $17.15 and a 12-month high of $21.67.
Hersha Hospitality Trust announced that its board has initiated a stock buyback program on Wednesday, January 3rd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, January 5th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.12 annualized dividend and a yield of 6.19%. Hersha Hospitality Trust’s payout ratio is presently 52.09%.
In other Hersha Hospitality Trust news, Chairman Hasu P. Shah sold 14,500 shares of Hersha Hospitality Trust stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $17.48, for a total transaction of $253,460.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Neil H. Shah purchased 2,850 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost of $17.54 per share, with a total value of $49,989.00. Following the purchase, the insider now owns 316,352 shares in the company, valued at approximately $5,548,814.08. The disclosure for this purchase can be found here. 8.10% of the stock is currently owned by insiders.
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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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