Hersha Hospitality Trust Announces Quarterly Dividend of $0.28 (HT)
Hersha Hospitality Trust (NYSE:HT) announced a quarterly dividend on Friday, December 15th, Wall Street Journal reports. Shareholders of record on Friday, January 5th will be given a dividend of 0.28 per share by the real estate investment trust on Tuesday, January 16th. This represents a $1.12 annualized dividend and a yield of 6.42%. The ex-dividend date of this dividend is Thursday, January 4th.
Hersha Hospitality Trust has raised its dividend payment by an average of 5.3% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Hersha Hospitality Trust has a payout ratio of 57.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hersha Hospitality Trust to earn $2.05 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 54.6%.
Hersha Hospitality Trust (NYSE:HT) traded down $0.02 during midday trading on Friday, reaching $17.44. 662,700 shares of the company’s stock traded hands, compared to its average volume of 451,404. Hersha Hospitality Trust has a fifty-two week low of $17.15 and a fifty-two week high of $21.95. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.10. The stock has a market cap of $726.51, a PE ratio of 7.94, a PEG ratio of 2.13 and a beta of 1.34.
In other news, insider Neil H. Shah purchased 5,673 shares of the business’s stock in a transaction on Monday, October 30th. The shares were acquired at an average price of $17.48 per share, with a total value of $99,164.04. Following the acquisition, the insider now directly owns 305,033 shares in the company, valued at $5,331,976.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Neil H. Shah purchased 2,823 shares of the business’s stock in a transaction on Thursday, October 26th. The stock was purchased at an average cost of $17.71 per share, for a total transaction of $49,995.33. Following the acquisition, the chief operating officer now owns 305,033 shares in the company, valued at $5,402,134.43. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 19,815 shares of company stock worth $346,990. 8.10% of the stock is owned by insiders.
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.
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.