Hersha Hospitality Trust Expected to Post FY2017 Earnings of $1.96 Per Share (HT)
Hersha Hospitality Trust (NYSE:HT) – Investment analysts at DA Davidson cut their FY2017 EPS estimates for Hersha Hospitality Trust in a report issued on Friday. DA Davidson analyst J. Lykins now forecasts that the real estate investment trust will post earnings per share of $1.96 for the year, down from their prior estimate of $2.08. DA Davidson currently has a “Buy” rating and a $21.00 target price on the stock. DA Davidson also issued estimates for Hersha Hospitality Trust’s Q4 2017 earnings at $0.41 EPS and Q1 2018 earnings at $0.26 EPS.
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Several other analysts have also recently weighed in on HT. BidaskClub cut Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Hersha Hospitality Trust in a research report on Wednesday, July 19th. Zacks Investment Research raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. FBR & Co lowered their price objective on Hersha Hospitality Trust from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Thursday, July 27th. Finally, Robert W. Baird reiterated a “buy” rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a research note on Friday, September 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. Hersha Hospitality Trust presently has a consensus rating of “Hold” and a consensus target price of $19.60.
Hersha Hospitality Trust (HT) opened at 17.34 on Monday. The company has a market cap of $725.40 million, a price-to-earnings ratio of 7.61 and a beta of 1.39. Hersha Hospitality Trust has a one year low of $16.80 and a one year high of $22.14. The firm has a 50-day moving average price of $18.59 and a 200 day moving average price of $18.59.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend was Thursday, September 28th. Hersha Hospitality Trust’s dividend payout ratio is currently 52.09%.
In other news, insider Neil H. Shah bought 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was bought at an average price of $17.91 per share, with a total value of $26,865.00. Following the acquisition, the insider now owns 302,210 shares of the company’s stock, valued at approximately $5,412,581.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was purchased at an average cost of $17.86 per share, with a total value of $29,772.62. Following the acquisition, the chief operating officer now directly owns 297,418 shares in the company, valued at approximately $5,311,885.48. The disclosure for this purchase can be found here. Insiders purchased a total of 8,679 shares of company stock valued at $155,506 in the last ninety days. 8.10% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of HT. Pinebridge Investments L.P. boosted its holdings in shares of Hersha Hospitality Trust by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 54 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Hersha Hospitality Trust by 76.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,186 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 3,556 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Hersha Hospitality Trust during the 1st quarter valued at about $179,000. KCG Holdings Inc. bought a new position in shares of Hersha Hospitality Trust during the 1st quarter valued at about $200,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Hersha Hospitality Trust during the 2nd quarter valued at about $219,000. 98.01% of the stock is owned by institutional investors.
Hersha Hospitality Trust Company Profile
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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