Equities research analysts expect Hersha Hospitality Trust (NYSE:HT) to post $115.53 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Hersha Hospitality Trust’s earnings, with estimates ranging from $112.02 million to $119.90 million. Hersha Hospitality Trust reported sales of $111.45 million during the same quarter last year, which indicates a positive year over year growth rate of 3.7%. The firm is expected to report its next quarterly earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Hersha Hospitality Trust will report full-year sales of $115.53 million for the current financial year, with estimates ranging from $487.61 million to $495.50 million. For the next year, analysts expect that the business will report sales of $504.39 million per share, with estimates ranging from $491.10 million to $517.16 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Hersha Hospitality Trust.
Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ 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%.
In other news, insider Neil H. Shah purchased 5,673 shares of Hersha Hospitality Trust stock in a transaction that occurred on Monday, October 30th. The stock was acquired at an average cost of $17.48 per share, for a total transaction of $99,164.04. Following the purchase, the insider now directly owns 305,033 shares of the company’s stock, valued at approximately $5,331,976.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Neil H. Shah bought 2,823 shares of the business’s stock in a transaction dated Thursday, October 26th. The shares were bought at an average price of $17.71 per share, with a total value of $49,995.33. Following the completion of the transaction, the chief operating officer now owns 305,033 shares in the company, valued at approximately $5,402,134.43. The disclosure for this purchase can be found here. Insiders purchased a total of 19,815 shares of company stock valued at $346,990 over the last 90 days. 8.10% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in HT. Brookfield Asset Management Inc. lifted its position in shares of Hersha Hospitality Trust by 11.9% during the 2nd quarter. Brookfield Asset Management Inc. now owns 3,371,560 shares of the real estate investment trust’s stock valued at $62,408,000 after acquiring an additional 357,835 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in shares of Hersha Hospitality Trust during the 2nd quarter valued at $3,720,000. State Street Corp lifted its position in shares of Hersha Hospitality Trust by 9.8% during the 2nd quarter. State Street Corp now owns 1,820,283 shares of the real estate investment trust’s stock valued at $33,697,000 after acquiring an additional 162,545 shares during the period. Bank of Montreal Can lifted its position in shares of Hersha Hospitality Trust by 241.9% during the 4th quarter. Bank of Montreal Can now owns 217,607 shares of the real estate investment trust’s stock valued at $3,786,000 after acquiring an additional 153,963 shares during the period. Finally, Virginia Retirement Systems ET AL bought a new stake in shares of Hersha Hospitality Trust during the 3rd quarter valued at $2,793,000. Hedge funds and other institutional investors own 98.59% of the company’s stock.
Hersha Hospitality Trust (HT) traded up $0.08 during midday trading on Wednesday, reaching $17.99. The company’s stock had a trading volume of 416,000 shares, compared to its average volume of 709,770. The company has a market cap of $748.56, a PE ratio of 8.37, a price-to-earnings-growth ratio of 2.07 and a beta of 1.34. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.67 and a quick ratio of 0.67. Hersha Hospitality Trust has a 12-month low of $17.15 and a 12-month high of $21.67.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, January 5th were paid a $0.28 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.12 annualized dividend and a yield of 6.23%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is presently 52.09%.
Hersha Hospitality Trust announced that its board has initiated a stock buyback plan on Wednesday, January 3rd that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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