Hersha Hospitality Trust (NYSE:HT) has been given an average rating of “Hold” by the fourteen research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $19.40.
HT has been the topic of several analyst reports. B. Riley restated a “buy” rating on shares of Hersha Hospitality Trust in a research report on Wednesday, November 1st. FBR & Co restated a “buy” rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a research report on Friday, October 27th. ValuEngine upgraded shares of Hersha Hospitality Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Wells Fargo & Co dropped their price target on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th.
Hersha Hospitality Trust (HT) traded down $0.07 during mid-day trading on Friday, reaching $17.67. 318,591 shares of the company traded hands, compared to its average volume of 599,238. The firm has a market capitalization of $736.50, a price-to-earnings ratio of 8.20, a PEG ratio of 2.04 and a beta of 1.36. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. Hersha Hospitality Trust has a 52 week low of $17.10 and a 52 week high of $21.48.
Hersha Hospitality Trust announced that its Board of Directors has initiated a stock buyback plan on Wednesday, January 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, January 5th were given a $0.28 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.12 annualized dividend and a dividend yield of 6.34%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is 52.09%.
In other news, Chairman Hasu P. Shah sold 14,500 shares of Hersha Hospitality Trust stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $17.48, for a total value of $253,460.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.10% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of HT. SG Americas Securities LLC purchased a new position in shares of Hersha Hospitality Trust in the third quarter worth about $135,000. Assetmark Inc. lifted its stake in shares of Hersha Hospitality Trust by 5,758.2% in the fourth quarter. Assetmark Inc. now owns 8,260 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 8,119 shares in the last quarter. Stevens Capital Management LP purchased a new position in shares of Hersha Hospitality Trust in the third quarter worth about $200,000. AMP Capital Investors Ltd purchased a new position in shares of Hersha Hospitality Trust in the fourth quarter worth about $208,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Hersha Hospitality Trust in the second quarter worth about $219,000. 96.89% of the stock is currently owned by hedge funds and other institutional investors.
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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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