Russell Investments Group Ltd. reduced its position in Hersha Hospitality Trust (NYSE:HT) by 32.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 63,537 shares of the real estate investment trust’s stock after selling 30,972 shares during the period. Russell Investments Group Ltd. owned 0.16% of Hersha Hospitality Trust worth $1,440,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Commonwealth Bank of Australia raised its stake in Hersha Hospitality Trust by 72.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,920 shares of the real estate investment trust’s stock valued at $169,000 after acquiring an additional 3,320 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hersha Hospitality Trust by 144.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,799 shares of the real estate investment trust’s stock valued at $232,000 after acquiring an additional 6,375 shares during the period. Tower Research Capital LLC TRC bought a new stake in Hersha Hospitality Trust in the 2nd quarter valued at about $151,000. Piedmont Investment Advisors LLC bought a new stake in Hersha Hospitality Trust in the 2nd quarter valued at about $184,000. Finally, 6 Meridian bought a new stake in Hersha Hospitality Trust in the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 98.20% of the company’s stock.
Shares of HT opened at $18.76 on Friday. Hersha Hospitality Trust has a twelve month low of $16.60 and a twelve month high of $24.16. The stock has a market cap of $747.47 million, a PE ratio of 9.07, a P/E/G ratio of 2.08 and a beta of 1.54. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.09.
Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $127.88 million during the quarter, compared to analysts’ expectations of $134.82 million. As a group, sell-side analysts predict that Hersha Hospitality Trust will post 1.92 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on HT. Robert W. Baird cut Hersha Hospitality Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, August 20th. Deutsche Bank set a $19.00 price target on Hersha Hospitality Trust and gave the company a “hold” rating in a research report on Thursday, October 25th. ValuEngine cut Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Zacks Investment Research upgraded Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Wednesday, September 5th. Finally, Stifel Nicolaus upped their price target on Hersha Hospitality Trust from $22.00 to $23.00 and gave the company a “hold” rating in a research report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $21.63.
In related news, Chairman Hasu P. Shah acquired 1,750 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were bought at an average cost of $17.25 per share, for a total transaction of $30,187.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Hasu P. Shah acquired 1,450 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was bought at an average price of $17.25 per share, for a total transaction of $25,012.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 13,500 shares of company stock worth $233,860. Company insiders own 10.30% of the company’s stock.
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 7,730 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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