Hersha Hospitality Trust (HT) Raised to “Buy” at Zacks Investment Research

Hersha Hospitality Trust (NYSE:HT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $24.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.84% from the stock’s current price.

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) “

HT has been the subject of several other research reports. Stifel Nicolaus increased their price objective on Hersha Hospitality Trust from $20.50 to $22.00 and gave the stock a “hold” rating in a report on Tuesday. DA Davidson increased their price objective on Hersha Hospitality Trust from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, June 22nd. Jefferies Financial Group initiated coverage on Hersha Hospitality Trust in a report on Thursday, May 31st. They issued a “hold” rating and a $22.00 price objective for the company. Barclays increased their price objective on Hersha Hospitality Trust from $17.00 to $18.00 and gave the stock an “underweight” rating in a report on Thursday, April 26th. Finally, Raymond James cut Hersha Hospitality Trust to a “hold” rating in a report on Thursday, April 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.56.

Hersha Hospitality Trust opened at $21.46 on Wednesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.43 and a current ratio of 0.43. Hersha Hospitality Trust has a 1 year low of $16.60 and a 1 year high of $21.88. The company has a market cap of $850.72 million, a P/E ratio of 9.94, a P/E/G ratio of 2.15 and a beta of 1.32.

Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.84). Hersha Hospitality Trust had a return on equity of 5.74% and a net margin of 11.06%. The company had revenue of $99.64 million for the quarter, compared to the consensus estimate of $102.92 million. research analysts forecast that Hersha Hospitality Trust will post 1.84 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Hersha Hospitality Trust by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 737,811 shares of the real estate investment trust’s stock valued at $13,207,000 after purchasing an additional 2,849 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Hersha Hospitality Trust by 13.7% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 24,000 shares of the real estate investment trust’s stock valued at $430,000 after purchasing an additional 2,900 shares during the period. Systematic Financial Management LP lifted its stake in shares of Hersha Hospitality Trust by 4.0% in the 1st quarter. Systematic Financial Management LP now owns 81,285 shares of the real estate investment trust’s stock valued at $1,455,000 after purchasing an additional 3,150 shares during the period. California Public Employees Retirement System lifted its stake in shares of Hersha Hospitality Trust by 2.5% in the 4th quarter. California Public Employees Retirement System now owns 130,220 shares of the real estate investment trust’s stock valued at $2,266,000 after purchasing an additional 3,152 shares during the period. Finally, Thrivent Financial For Lutherans lifted its stake in shares of Hersha Hospitality Trust by 8.7% in the 4th quarter. Thrivent Financial For Lutherans now owns 39,899 shares of the real estate investment trust’s stock valued at $694,000 after purchasing an additional 3,183 shares during the period. Institutional investors own 95.11% of the company’s stock.

Hersha Hospitality Trust Company Profile

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets and coastal destinations. The Company's 49 hotels totaling 7,653 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

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