Bank of New York Mellon Corp Has $14.88 Million Stake in Hersha Hospitality Trust (HT)

Bank of New York Mellon Corp reduced its stake in shares of Hersha Hospitality Trust (NYSE:HT) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 693,634 shares of the real estate investment trust’s stock after selling 16,237 shares during the quarter. Bank of New York Mellon Corp’s holdings in Hersha Hospitality Trust were worth $14,879,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HT. Millennium Management LLC bought a new position in shares of Hersha Hospitality Trust during the 2nd quarter valued at about $5,183,000. Renaissance Technologies LLC lifted its holdings in shares of Hersha Hospitality Trust by 168.6% during the 2nd quarter. Renaissance Technologies LLC now owns 246,800 shares of the real estate investment trust’s stock valued at $5,294,000 after purchasing an additional 154,900 shares in the last quarter. Martingale Asset Management L P lifted its holdings in shares of Hersha Hospitality Trust by 1,068.2% during the 2nd quarter. Martingale Asset Management L P now owns 169,382 shares of the real estate investment trust’s stock valued at $3,634,000 after purchasing an additional 154,882 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Hersha Hospitality Trust during the 2nd quarter valued at about $2,598,000. Finally, GSA Capital Partners LLP bought a new position in shares of Hersha Hospitality Trust during the 2nd quarter valued at about $1,427,000. Institutional investors and hedge funds own 98.20% of the company’s stock.

Several equities research analysts have commented on the company. Zacks Investment Research cut Hersha Hospitality Trust from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research note on Tuesday, August 14th. Robert W. Baird cut Hersha Hospitality Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, August 20th. Stifel Nicolaus boosted their target price on Hersha Hospitality Trust from $22.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday, August 29th. Finally, ValuEngine cut Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.63.

In related news, insider Neil H. Shah purchased 3,000 shares of the 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 transaction, the insider now directly owns 323,752 shares of the company’s stock, valued at $5,600,909.60. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Hasu P. Shah purchased 1,450 shares of the stock in a transaction on Monday, October 29th. The shares were bought at an average cost of $17.25 per share, for a total transaction of $25,012.50. The disclosure for this purchase can be found here. Insiders acquired a total of 13,500 shares of company stock worth $233,860 in the last 90 days. Company insiders own 10.30% of the company’s stock.

NYSE HT opened at $18.78 on Thursday. The company has a market capitalization of $752.99 million, a price-to-earnings ratio of 8.69, a PEG ratio of 2.12 and a beta of 1.54. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.09. Hersha Hospitality Trust has a 52 week low of $16.60 and a 52 week high of $24.16.

Hersha Hospitality Trust (NYSE:HT) last released its earnings results on Tuesday, October 23rd. The real estate investment trust reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The business had revenue of $127.88 million during the quarter, compared to analysts’ expectations of $134.82 million. As a group, equities analysts expect that Hersha Hospitality Trust will post 1.92 EPS for the current year.

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Hersha Hospitality Trust 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 7,730 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

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