RBC Capital Begins Coverage on Hersha Hospitality Trust (HT)
Equities research analysts at RBC Capital started coverage on shares of Hersha Hospitality Trust (NYSE:HT) in a research note issued to investors on Wednesday. The firm set a “sector perform” rating on the stock.
HT has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, analysts at Barclays raised their price target on shares of Hersha Hospitality Trust from $6.00 to $7.00 in a research note on Thursday, August 7th. They now have an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $7.50.
Shares of Hersha Hospitality Trust (NYSE:HT) opened at 6.89 on Wednesday. Hersha Hospitality Trust has a 52-week low of $5.18 and a 52-week high of $6.95. The stock’s 50-day moving average is $6.7 and its 200-day moving average is $6.23. The company has a market cap of $1.383 billion and a P/E ratio of 18.45.
Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, August 5th. The company reported $0.17 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.14 earnings per share. Hersha Hospitality Trust’s revenue was up 23.3% compared to the same quarter last year. 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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