Hersha Hospitality Trust (HT) Set to Announce Earnings on Wednesday
Hersha Hospitality Trust (NYSE:HT) is set to release its earnings data after the market closes on Wednesday, October 25th. Analysts expect Hersha Hospitality Trust to post earnings of $0.73 per share for the quarter. Hersha Hospitality Trust has set its FY17 guidance at $2.25-2.38 EPS.
Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.02). Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. The business had revenue of $138.00 million during the quarter, compared to analyst estimates of $134.55 million. During the same period in the previous year, the company earned $0.89 EPS. Hersha Hospitality Trust’s revenue was up 8.1% on a year-over-year basis. On average, analysts expect Hersha Hospitality Trust to post $2.13 EPS for the current fiscal year and $0.13 EPS for the next fiscal year.
Shares of Hersha Hospitality Trust (NYSE:HT) opened at 18.98 on Wednesday. The firm has a market cap of $794.01 million, a price-to-earnings ratio of 8.32 and a beta of 1.39. The stock has a 50 day moving average of $18.51 and a 200 day moving average of $18.60. Hersha Hospitality Trust has a 52-week low of $16.80 and a 52-week high of $22.14.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend was Thursday, September 28th. Hersha Hospitality Trust’s payout ratio is presently 48.70%.
Several equities analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $20.00 price objective on shares of Hersha Hospitality Trust in a research report on Thursday, October 12th. Stifel Nicolaus reissued a “hold” rating and issued a $19.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday, October 12th. DA Davidson assumed coverage on shares of Hersha Hospitality Trust in a research report on Friday, September 29th. They issued a “buy” rating and a $21.00 price target on the stock. Zacks Investment Research raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. Finally, BidaskClub lowered shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $19.89.
In related news, insider Neil H. Shah bought 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average price of $17.91 per share, with a total value of $26,865.00. Following the completion of the transaction, the insider now owns 302,210 shares of the company’s stock, valued at approximately $5,412,581.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Neil H. Shah bought 1,667 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average cost of $17.86 per share, for a total transaction of $29,772.62. Following the transaction, the chief operating officer now directly owns 297,418 shares of the company’s stock, valued at approximately $5,311,885.48. The disclosure for this purchase can be found here. In the last three months, insiders bought 8,679 shares of company stock worth $155,506. 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 July 20, 2017, the Company’s hotels included 51 hotels totaling 7,804 rooms located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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