Hersha Hospitality Trust (NYSE:HT) is set to issue its quarterly earnings data after the market closes on Wednesday, February 21st. Analysts expect the company to announce earnings of ($0.13) per share for the quarter.
Hersha Hospitality Trust (NYSE HT) opened at $17.74 on Wednesday. Hersha Hospitality Trust has a 52-week low of $17.10 and a 52-week high of $21.48. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $736.50, a P/E ratio of 8.25, a P/E/G ratio of 2.05 and a beta of 1.36.
Hersha Hospitality Trust announced that its board has initiated a share buyback plan on Wednesday, January 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
HT has been the subject of a number of recent analyst reports. ValuEngine raised Hersha Hospitality Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. B. Riley reaffirmed a “buy” rating on shares of Hersha Hospitality Trust in a research report on Wednesday, November 1st. FBR & Co reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Hersha Hospitality Trust in a research report on Friday, October 27th. Zacks Investment Research raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Wells Fargo & Co cut their price objective on Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. Hersha Hospitality Trust has a consensus rating of “Hold” and a consensus price target of $19.40.
In other news, Chairman Hasu P. Shah sold 14,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $17.48, for a total value of $253,460.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.10% of the company’s stock.
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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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