Hersha Hospitality Trust (NYSE:HT) Updates FY17 Earnings Guidance
Hersha Hospitality Trust (NYSE:HT) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.25-2.38 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.26.
A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Hersha Hospitality Trust from a hold rating to a sell rating in a research report on Tuesday, June 27th. ValuEngine cut shares of Hersha Hospitality Trust from a strong-buy rating to a buy rating in a report on Friday, June 2nd. Stifel Nicolaus decreased their price objective 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. Brean Capital reissued a buy rating and set a $16.00 price objective on shares of Hersha Hospitality Trust in a report on Monday, May 1st. Finally, JMP Securities cut shares of Hersha Hospitality Trust from an outperform rating to a market perform rating and set a $23.00 price objective for the company. in a report on Monday, May 1st. They noted that the move was a valuation call. Two investment 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. Hersha Hospitality Trust has an average rating of Hold and a consensus target price of $20.11.
Hersha Hospitality Trust (NYSE:HT) traded up 0.99% during mid-day trading on Tuesday, hitting $18.42. 307,151 shares of the stock were exchanged. Hersha Hospitality Trust has a 12-month low of $16.80 and a 12-month high of $22.14. The company has a 50 day moving average of $18.82 and a 200 day moving average of $19.26. The firm has a market cap of $769.86 million, a P/E ratio of 6.33 and a beta of 1.38.
Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.06. The business had revenue of $138 million during the quarter, compared to analyst estimates of $134.55 million. Hersha Hospitality Trust had a net margin of 29.30% and a return on equity of 18.72%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share. On average, equities analysts anticipate that Hersha Hospitality Trust will post $1.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend was Wednesday, June 28th. Hersha Hospitality Trust’s payout ratio is 38.89%.
In other Hersha Hospitality Trust news, COO Neil H. Shah purchased 1,400 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were purchased at an average cost of $18.00 per share, with a total value of $25,200.00. Following the purchase, the chief operating officer now owns 296,308 shares in the company, valued at $5,333,544. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.10% 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.
Receive News & Ratings for Hersha Hospitality Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hersha Hospitality Trust and related companies with MarketBeat.com's FREE daily email newsletter.