Hersha Hospitality Trust Upgraded to Buy at Stifel Nicolaus (HT)
Hersha Hospitality Trust (NYSE:HT) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Hersha Hospitality Trust (NYSE:HT) traded up 3.63% on Tuesday, hitting $5.71. 812,123 shares of the company’s stock traded hands. Hersha Hospitality Trust has a 52 week low of $4.19 and a 52 week high of $6.30. The stock’s 50-day moving average is $5.44 and its 200-day moving average is $5.73. The company has a market cap of $1.157 billion and a price-to-earnings ratio of 183.67.
Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, July 30th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.15 by $0.01. The company had revenue of $106.16 million for the quarter, compared to the consensus estimate of $110.52 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts expect that Hersha Hospitality Trust will post $0.44 EPS for the current fiscal year.
Separately, analysts at Raymond James downgraded shares of Hersha Hospitality Trust (NYSE:HT) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, August 1st. They now have a $6.50 price target on the stock.
Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $6.17.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Friday, September 27th.
Hersha Hospitality Trust, is a self-advised Maryland real estate investment trust. The Company invests primarily in institutional grade hotels in urban and central business districts, primary suburban office markets and stable destination and secondary markets in the Northeastern United States, Florida and select markets on the West Coast.
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