Hersha Hospitality Trust (NYSE:HT) Stock Rating Upgraded by Zacks Investment Research
Hersha Hospitality Trust (NYSE:HT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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 research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Hersha Hospitality Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Brean Capital reiterated a “buy” rating and issued a $16.00 target price on shares of Hersha Hospitality Trust in a research note on Monday, May 1st. Stifel Nicolaus cut 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 research note on Wednesday, April 26th. JMP Securities cut shares of Hersha Hospitality Trust from an “outperform” rating to a “market perform” rating and set a $23.00 target price for the company. in a research note on Monday, May 1st. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $20.11.
Shares of Hersha Hospitality Trust (HT) traded down 1.40% during mid-day trading on Friday, hitting $18.34. The stock had a trading volume of 203,340 shares. The firm has a 50 day moving average of $18.86 and a 200 day moving average of $19.32. Hersha Hospitality Trust has a one year low of $16.80 and a one year high of $22.14. The stock has a market cap of $766.52 million, a price-to-earnings ratio of 6.30 and a beta of 1.38.
Hersha Hospitality Trust (NYSE:HT) last posted its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $101.68 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. On average, analysts forecast that Hersha Hospitality Trust will post $1.98 earnings per share for the current year.
In related news, COO Neil H. Shah acquired 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $25,200.00. Following the transaction, the chief operating officer now directly owns 296,308 shares of the company’s stock, valued at approximately $5,333,544. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in 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 valued at $132,132,000 after buying an additional 561,377 shares during the period. BlackRock Inc. boosted its position in 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 valued at $111,899,000 after buying an additional 5,899,727 shares during the period. Brookfield Asset Management Inc. boosted its position in 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 valued at $56,628,000 after buying an additional 705,256 shares during the period. State Street Corp boosted its position in Hersha Hospitality Trust by 22.1% in the first quarter. State Street Corp now owns 1,657,738 shares of the real estate investment trust’s stock valued at $31,153,000 after buying an additional 300,195 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Hersha Hospitality Trust by 76.0% in the first quarter. Bank of New York Mellon Corp now owns 723,546 shares of the real estate investment trust’s stock valued at $13,595,000 after buying an additional 312,360 shares during the period.
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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