Equities research analysts forecast that Hersha Hospitality Trust (NYSE:HT) will announce earnings per share of $0.58 for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Hersha Hospitality Trust’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.56. Hersha Hospitality Trust posted earnings of $0.48 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 20.8%. The business is scheduled to announce its next earnings report on Wednesday, February 20th.
On average, analysts expect that Hersha Hospitality Trust will report full year earnings of $2.18 per share for the current financial year, with EPS estimates ranging from $2.16 to $2.20. For the next year, analysts expect that the business will post earnings of $2.33 per share, with EPS estimates ranging from $2.18 to $2.61. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Hersha Hospitality Trust.
Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $127.88 million for the quarter, compared to analyst estimates of $134.82 million.
Several research analysts have recently commented on the stock. ValuEngine raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Zacks Investment Research raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Robert W. Baird set a $20.00 price objective on shares of Hersha Hospitality Trust and gave the company a “hold” rating in a research note on Thursday, October 25th. B. Riley set a $19.00 price objective on shares of Hersha Hospitality Trust and gave the company a “hold” rating in a research note on Thursday, October 25th. Finally, Deutsche Bank set a $19.00 price objective on shares of Hersha Hospitality Trust and gave the company a “hold” rating in a research note on Thursday, October 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $21.63.
In other Hersha Hospitality Trust news, Director Thomas J. Hutchison III sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $21.94, for a total transaction of $219,400.00. Following the sale, the director now owns 85,510 shares of the company’s stock, valued at $1,876,089.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jay H. Shah acquired 5,800 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were bought at an average cost of $17.30 per share, for a total transaction of $100,340.00. Following the acquisition, the chief executive officer now owns 289,420 shares of the company’s stock, valued at approximately $5,006,966. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 13,500 shares of company stock worth $233,860. 10.30% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia raised its holdings in Hersha Hospitality Trust by 72.2% during the second quarter. Commonwealth Bank of Australia now owns 7,920 shares of the real estate investment trust’s stock worth $169,000 after purchasing an additional 3,320 shares in the last quarter. Bessemer Group Inc. acquired a new stake in Hersha Hospitality Trust during the second quarter worth approximately $757,000. Martingale Asset Management L P raised its holdings in Hersha Hospitality Trust by 1,068.2% during the second quarter. Martingale Asset Management L P now owns 169,382 shares of the real estate investment trust’s stock worth $3,634,000 after purchasing an additional 154,882 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in Hersha Hospitality Trust during the second quarter worth approximately $266,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Hersha Hospitality Trust during the second quarter worth approximately $151,000. 94.30% of the stock is currently owned by institutional investors.
Shares of NYSE HT traded up $0.15 during midday trading on Friday, hitting $18.13. The company’s stock had a trading volume of 496,067 shares, compared to its average volume of 458,164. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.45 and a current ratio of 0.45. Hersha Hospitality Trust has a 1 year low of $16.60 and a 1 year high of $24.16. The firm has a market cap of $699.38 million, a price-to-earnings ratio of 8.39, a PEG ratio of 1.94 and a beta of 1.52.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were issued a $0.28 dividend. The ex-dividend date was Friday, September 28th. This represents a $1.12 annualized dividend and a yield of 6.18%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is 51.85%.
About Hersha Hospitality Trust
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets and coastal destinations. The Company's 49 hotels totaling 7,666 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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