Insider Buying: Hersha Hospitality Trust (HT) COO Acquires 1,400 Shares of Stock
Hersha Hospitality Trust (NYSE:HT) COO Neil H. Shah bought 1,400 shares of the stock in a transaction dated Tuesday, July 11th. The stock was purchased at an average price of $18.00 per share, with a total value of $25,200.00. Following the acquisition, the chief operating officer now directly owns 296,308 shares in the company, valued at approximately $5,333,544. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hersha Hospitality Trust (HT) traded up 0.75% on Wednesday, reaching $18.87. 205,786 shares of the company traded hands. Hersha Hospitality Trust has a 1-year low of $16.80 and a 1-year high of $22.14. The stock has a market capitalization of $788.67 million, a price-to-earnings ratio of 6.49 and a beta of 1.38. The stock has a 50 day moving average of $18.85 and a 200-day moving average of $19.33.
Hersha Hospitality Trust (NYSE:HT) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate 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 in the prior year, the company posted $0.28 earnings per share. On average, equities analysts anticipate that Hersha Hospitality Trust will post $1.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a yield of 5.94%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is presently 38.89%.
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Several equities research analysts have recently issued reports on HT shares. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Stifel Nicolaus lowered their target price on shares of Hersha Hospitality Trust from $20.50 to $20.00 and set a “hold” rating for the company in a report on Wednesday, April 26th. ValuEngine upgraded shares of Hersha Hospitality Trust from a “buy” rating to a “strong-buy” rating in a report on Friday, May 19th. BidaskClub lowered shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Brean Capital restated a “buy” rating and issued a $16.00 target price on shares of Hersha Hospitality Trust in a report on Monday, May 1st. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Hersha Hospitality Trust has a consensus rating of “Hold” and a consensus target price of $20.11.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Hersha Hospitality Trust by 10,630.7% in the first quarter. BlackRock Inc. now owns 5,955,224 shares of the real estate investment trust’s stock worth $111,899,000 after buying an additional 5,899,727 shares during the period. Brookfield Asset Management Inc. raised its stake in shares of Hersha Hospitality Trust by 30.6% in the first quarter. Brookfield Asset Management Inc. now owns 3,013,725 shares of the real estate investment trust’s stock worth $56,628,000 after buying an additional 705,256 shares during the period. Vanguard Group Inc. raised its stake in shares of Hersha Hospitality Trust by 8.7% in the first quarter. Vanguard Group Inc. now owns 7,032,015 shares of the real estate investment trust’s stock worth $132,132,000 after buying an additional 561,377 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Hersha Hospitality Trust by 265.5% in the first quarter. Nuveen Asset Management LLC now owns 566,490 shares of the real estate investment trust’s stock worth $10,644,000 after buying an additional 411,508 shares during the period. Finally, Norges Bank acquired a new stake in shares of Hersha Hospitality Trust during the fourth quarter worth about $7,881,000.
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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