Hersha Hospitality Trust (HT) Given Average Recommendation of “Hold” by Brokerages
Hersha Hospitality Trust (NYSE:HT) has been given an average recommendation of “Hold” by the fourteen ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $19.40.
Several analysts have recently weighed in on the stock. B. Riley reiterated a “buy” rating on shares of Hersha Hospitality Trust in a research report on Wednesday, November 1st. DA Davidson assumed coverage on shares of Hersha Hospitality Trust in a research report on Friday, September 29th. They set a “buy” rating and a $21.00 target price on the stock. Robert W. Baird reiterated a “buy” rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a research report on Thursday, October 12th. Stifel Nicolaus reiterated a “hold” rating and set a $19.00 target price on shares of Hersha Hospitality Trust in a research report on Thursday, October 12th. Finally, Wells Fargo & Co reduced their price target on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th.
In other Hersha Hospitality Trust news, Chairman Hasu P. Shah sold 14,500 shares of the business’s stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $17.48, for a total value of $253,460.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Neil H. Shah bought 2,823 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was bought at an average cost of $17.71 per share, with a total value of $49,995.33. Following the completion of the purchase, the chief operating officer now owns 305,033 shares of the company’s stock, valued at approximately $5,402,134.43. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 19,815 shares of company stock worth $346,990. Company insiders own 8.10% of the company’s stock.
Shares of Hersha Hospitality Trust (NYSE HT) traded down $0.24 during trading on Monday, hitting $17.91. 577,800 shares of the stock traded hands, compared to its average volume of 742,411. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 0.67. Hersha Hospitality Trust has a 1-year low of $17.15 and a 1-year high of $21.67. The firm has a market cap of $745.23, a price-to-earnings ratio of 8.33, a P/E/G ratio of 2.07 and a beta of 1.34.
Hersha Hospitality Trust (NYSE:HT) last issued its earnings results on Wednesday, October 25th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.71). Hersha Hospitality Trust had a net margin of 21.06% and a return on equity of 13.52%. sell-side analysts predict that Hersha Hospitality Trust will post 1.94 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, January 5th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.12 dividend on an annualized basis and a yield of 6.25%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is presently 52.09%.
Hersha Hospitality Trust declared that its board has approved a share buyback plan on Wednesday, January 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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.
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