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Hersha Hospitality Trust (NYSE:HT) hit a new 52-week high on Wednesday , reports. The company traded as high as $6.95 and last traded at $6.92, with a volume of 224,610 shares changing hands. The stock had previously closed at $6.89.

A number of research firms have recently commented on HT. Analysts at RBC Capital initiated coverage on shares of Hersha Hospitality Trust in a research note on Wednesday. They set a “sector perform” rating and a $7.00 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Hersha Hospitality Trust from $7.00 to $7.50 in a research note on Thursday, August 7th. Finally, analysts at JMP Securities raised their price target on shares of Hersha Hospitality Trust from $7.00 to $7.50 in a research note on Thursday, August 7th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Hersha Hospitality Trust presently has a consensus rating of “Hold” and an average price target of $7.40.

The stock has a 50-day moving average of $6.7 and a 200-day moving average of $6.23. The company has a market cap of $1.383 billion and a P/E ratio of 18.72.

Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $111.55 million for the quarter, compared to the consensus estimate of $112.80 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, analysts predict that Hersha Hospitality Trust will post $0.48 earnings per share for the current fiscal year.

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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