Systematic Financial Management LP decreased its position in Hersha Hospitality Trust (NYSE:HT) by 30.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,715 shares of the real estate investment trust’s stock after selling 16,315 shares during the period. Systematic Financial Management LP owned approximately 0.09% of Hersha Hospitality Trust worth $546,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Quantamental Technologies LLC bought a new stake in Hersha Hospitality Trust in the 2nd quarter worth about $61,000. Bank of Montreal Can lifted its stake in Hersha Hospitality Trust by 121.9% in the 2nd quarter. Bank of Montreal Can now owns 5,126 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 2,816 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Hersha Hospitality Trust by 187.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 9,595 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 6,254 shares in the last quarter. Pathstone Family Office LLC purchased a new stake in Hersha Hospitality Trust in the 2nd quarter worth approximately $174,000. Finally, Ellington Management Group LLC purchased a new stake in Hersha Hospitality Trust in the 2nd quarter worth approximately $184,000. Institutional investors and hedge funds own 93.55% of the company’s stock.
HT has been the topic of several research reports. Deutsche Bank restated a “hold” rating and set a $14.00 price objective on shares of Hersha Hospitality Trust in a research report on Tuesday. BMO Capital Markets reissued a “sell” rating and issued a $12.50 price target on shares of Hersha Hospitality Trust in a report on Wednesday, November 6th. DA Davidson lowered shares of Hersha Hospitality Trust from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. ValuEngine lowered shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Finally, Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $14.80.
In other news, Chairman Hasu P. Shah purchased 3,500 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was acquired at an average cost of $14.09 per share, for a total transaction of $49,315.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Jay H. Shah purchased 73,578 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was purchased at an average price of $40.46 per share, with a total value of $2,976,965.88. Insiders have bought 119,321 shares of company stock valued at $3,587,577 over the last three months. 11.80% of the stock is owned by corporate insiders.
Shares of HT traded down $0.08 during trading hours on Friday, reaching $14.49. 431,786 shares of the company traded hands, compared to its average volume of 462,849. The company’s fifty day moving average price is $14.20 and its two-hundred day moving average price is $15.76. The company has a market capitalization of $534.37 million, a price-to-earnings ratio of 6.59, a price-to-earnings-growth ratio of 1.99 and a beta of 1.30. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.28. Hersha Hospitality Trust has a 12 month low of $13.00 and a 12 month high of $20.38.
Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.67). The company had revenue of $135.00 million for the quarter, compared to the consensus estimate of $135.62 million. Hersha Hospitality Trust had a net margin of 0.36% and a return on equity of 0.21%. On average, analysts expect that Hersha Hospitality Trust will post 1.73 EPS for the current year.
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, luxury and lifestyle hotels in urban gateway markets and coastal destinations. The Company's 48 hotels totaling 7,644 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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