Hersha Hospitality Trust (HT) Upgraded to Buy by ValuEngine
Hersha Hospitality Trust (NYSE:HT) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other research analysts have also recently weighed in on HT. FBR & Co set a $20.00 price target on Hersha Hospitality Trust and gave the company a “buy” rating in a research report on Monday, August 28th. Stifel Nicolaus reiterated a “hold” rating and set a $19.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday, September 7th. Robert W. Baird reiterated a “buy” rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a research report on Friday, September 8th. DA Davidson began coverage on Hersha Hospitality Trust in a research report on Friday, September 29th. They set a “buy” rating and a $21.00 price target for the company. Finally, Zacks Investment Research cut Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $19.60.
Shares of Hersha Hospitality Trust (HT) traded up $0.04 during mid-day trading on Friday, reaching $17.59. The company had a trading volume of 491,864 shares, compared to its average volume of 388,959. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $731.92, a PE ratio of 8.00, a P/E/G ratio of 2.14 and a beta of 1.34. Hersha Hospitality Trust has a 52 week low of $17.15 and a 52 week high of $22.14.
Large investors have recently modified their holdings of the company. Pinebridge Investments L.P. boosted its stake in shares of Hersha Hospitality Trust by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 54 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Hersha Hospitality Trust in the third quarter worth approximately $135,000. State of Alaska Department of Revenue boosted its stake in shares of Hersha Hospitality Trust by 76.8% in the second quarter. State of Alaska Department of Revenue now owns 8,186 shares of the real estate investment trust’s stock worth $151,000 after acquiring an additional 3,556 shares during the last quarter. KCG Holdings Inc. acquired a new stake in shares of Hersha Hospitality Trust in the first quarter worth approximately $200,000. Finally, Stevens Capital Management LP acquired a new stake in shares of Hersha Hospitality Trust in the third quarter worth approximately $200,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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