Hersha Hospitality Trust (NYSE:HT) Expected to Announce Quarterly Sales of $45.12 Million


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Equities analysts expect Hersha Hospitality Trust (NYSE:HT) to report sales of $45.12 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Hersha Hospitality Trust’s earnings. The highest sales estimate is $56.31 million and the lowest is $40.47 million. Hersha Hospitality Trust posted sales of $90.14 million in the same quarter last year, which suggests a negative year over year growth rate of 49.9%. The business is expected to issue its next quarterly earnings report after the market closes on Wednesday, April 28th.

According to Zacks, analysts expect that Hersha Hospitality Trust will report full-year sales of $275.16 million for the current fiscal year, with estimates ranging from $240.26 million to $317.00 million. For the next year, analysts expect that the firm will post sales of $405.41 million, with estimates ranging from $349.39 million to $530.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Hersha Hospitality Trust.

Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, February 23rd. The real estate investment trust reported ($1.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.70). Hersha Hospitality Trust had a negative net margin of 51.54% and a negative return on equity of 17.94%.

A number of equities research analysts recently issued reports on HT shares. Robert W. Baird reissued a “hold” rating and issued a $10.00 target price on shares of Hersha Hospitality Trust in a research report on Friday, March 19th. B. Riley boosted their price target on Hersha Hospitality Trust from $8.00 to $9.50 and gave the stock a “neutral” rating in a research report on Thursday, March 4th. Zacks Investment Research raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $8.00 price target (up previously from $7.00) on shares of Hersha Hospitality Trust in a research report on Thursday, February 25th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.19.

In other news, Director Thomas J. Hutchison III sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 30th. The shares were sold at an average price of $10.92, for a total transaction of $109,200.00. Following the completion of the sale, the director now owns 108,842 shares in the company, valued at approximately $1,188,554.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 12.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wetherby Asset Management Inc. acquired a new stake in shares of Hersha Hospitality Trust during the 3rd quarter worth about $55,000. LPL Financial LLC acquired a new stake in Hersha Hospitality Trust in the 3rd quarter worth about $95,000. Virtu Financial LLC acquired a new stake in Hersha Hospitality Trust in the 4th quarter worth about $98,000. SG Americas Securities LLC acquired a new stake in Hersha Hospitality Trust in the 4th quarter worth about $110,000. Finally, Credit Suisse AG acquired a new stake in Hersha Hospitality Trust in the 4th quarter worth about $126,000. Institutional investors own 69.18% of the company’s stock.

Shares of Hersha Hospitality Trust stock opened at $10.65 on Thursday. The business’s 50 day simple moving average is $11.07 and its 200 day simple moving average is $8.09. Hersha Hospitality Trust has a 52-week low of $3.62 and a 52-week high of $13.05. The firm has a market cap of $416.76 million, a PE ratio of -2.65 and a beta of 2.79. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.16 and a current ratio of 0.16.

Hersha Hospitality Trust Company Profile

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale and lifestyle hotels in urban gateway markets and resort destinations. The Company's 49 hotels totaling 7,774 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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Earnings History and Estimates for Hersha Hospitality Trust (NYSE:HT)

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