Hersha Hospitality Trust (HT) Downgraded by Zacks Investment Research
Hersha Hospitality Trust (NYSE:HT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focussed on the hospitality industry. Hersha currently owns, operates, and develops a portfolio of hotels and assisted living facilities in the mid-Atlantic region of the United States. (PRESS RELEASE) “
Other analysts have also recently issued research reports about the stock. JMP Securities cut shares of Hersha Hospitality Trust from an “outperform” rating to a “market perform” rating and set a $23.00 price objective on the stock. in a report on Monday, May 1st. They noted that the move was a valuation call. ValuEngine raised shares of Hersha Hospitality Trust from a “buy” rating to a “strong-buy” rating in a report on Friday, May 19th. Stifel Nicolaus cut their price objective on shares of Hersha Hospitality Trust from $20.50 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, April 26th. Bank of America Corporation cut shares of Hersha Hospitality Trust from a “neutral” rating to an “underperform” rating and set a $19.00 price objective on the stock. in a report on Friday, March 3rd. Finally, Barclays PLC reissued an “equal weight” rating and set a $19.00 price objective (down previously from $21.00) on shares of Hersha Hospitality Trust in a report on Wednesday, March 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.11.
Shares of Hersha Hospitality Trust (NYSE:HT) traded down 0.21% during trading on Tuesday, hitting $19.27. 307,687 shares of the company’s stock were exchanged. Hersha Hospitality Trust has a 12-month low of $15.36 and a 12-month high of $22.14. The company has a 50-day moving average of $18.78 and a 200-day moving average of $19.71. The company has a market cap of $805.39 million, a P/E ratio of 6.62 and a beta of 1.35.
Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. Hersha Hospitality Trust had a net margin of 29.30% and a return on equity of 18.72%. The company had revenue of $108 million for the quarter, compared to analysts’ expectations of $101.68 million. During the same quarter last year, the company earned $0.28 earnings per share. On average, equities analysts expect that Hersha Hospitality Trust will post $1.98 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be given a $0.28 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a yield of 5.81%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is 38.89%.
Institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC purchased a new position in Hersha Hospitality Trust during the first quarter worth $108,000. Municipal Employees Retirement System of Michigan purchased a new position in Hersha Hospitality Trust during the first quarter worth $179,000. Mason Street Advisors LLC purchased a new position in Hersha Hospitality Trust during the first quarter worth $184,000. KCG Holdings Inc. purchased a new position in Hersha Hospitality Trust during the first quarter worth $200,000. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in Hersha Hospitality Trust during the first quarter worth $231,000. Hedge funds and other institutional investors own 96.55% of the company’s stock.
About Hersha Hospitality Trust
Hersha Hospitality Trust is a self-advised real estate investment trust (REIT). The Company invests primarily in institutional grade hotels in urban gateway markets, including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and select markets on the West Coast. As of December 31, 2016, the Company’s portfolio consisted of 43 limited and full service properties with a total of 6,344 rooms and interests in 12 limited and full service properties owned through joint venture investments with a total of 2,456 rooms.
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