Chicago Equity Partners LLC raised its stake in Hersha Hospitality Trust (NYSE:HT) by 2,654.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 341,500 shares of the real estate investment trust’s stock after buying an additional 329,100 shares during the quarter. Chicago Equity Partners LLC’s holdings in Hersha Hospitality Trust were worth $7,742,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of HT. Tower Research Capital LLC TRC bought a new position in shares of Hersha Hospitality Trust in the 2nd quarter valued at about $151,000. Commonwealth Bank of Australia boosted its stake in shares of Hersha Hospitality Trust by 72.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,920 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 3,320 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Hersha Hospitality Trust in the 2nd quarter valued at about $184,000. 6 Meridian bought a new position in shares of Hersha Hospitality Trust in the 2nd quarter valued at about $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hersha Hospitality Trust by 144.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,799 shares of the real estate investment trust’s stock valued at $232,000 after purchasing an additional 6,375 shares during the last quarter. Hedge funds and other institutional investors own 94.30% of the company’s stock.
Hersha Hospitality Trust stock opened at $17.67 on Tuesday. Hersha Hospitality Trust has a fifty-two week low of $16.60 and a fifty-two week high of $24.16. The company has a market cap of $684.40 million, a P/E ratio of 8.31, a PEG ratio of 1.90 and a beta of 1.52. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.45 and a current ratio of 0.45.
Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The company had revenue of $127.88 million for the quarter, compared to analyst estimates of $134.82 million. Analysts expect that Hersha Hospitality Trust will post 1.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.34%. The ex-dividend date of this dividend was Friday, September 28th. Hersha Hospitality Trust’s payout ratio is 51.85%.
In related news, insider Neil H. Shah purchased 3,000 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were purchased at an average price of $17.30 per share, with a total value of $51,900.00. Following the completion of the purchase, the insider now owns 323,752 shares in the company, valued at approximately $5,600,909.60. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jay H. Shah purchased 5,800 shares of the business’s stock in a transaction on Friday, November 2nd. The stock was bought at an average cost of $17.30 per share, for a total transaction of $100,340.00. Following the purchase, the chief executive officer now owns 289,420 shares of the company’s stock, valued at approximately $5,006,966. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,500 shares of company stock worth $216,120 in the last three months. 10.30% of the stock is owned by insiders.
Several research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Monday, August 27th. ValuEngine raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Barclays raised their target price on shares of Hersha Hospitality Trust from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Monday, July 30th. Deutsche Bank set a $19.00 target price on shares of Hersha Hospitality Trust and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, B. Riley set a $19.00 target price on shares of Hersha Hospitality Trust and gave the company a “hold” rating in a research note on Thursday, October 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $21.63.
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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 7,666 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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