Robert W. Baird cut shares of Hersha Hospitality Trust (NYSE:HT) from an outperform rating to a neutral rating in a research report released on Monday morning, MarketBeat Ratings reports.
Other analysts also recently issued research reports about the company. DA Davidson raised their price objective on Hersha Hospitality Trust from $20.00 to $21.00 and gave the stock a buy rating in a research report on Thursday, April 26th. Zacks Investment Research upgraded Hersha Hospitality Trust from a hold rating to a buy rating and set a $24.00 price objective for the company in a research report on Wednesday, June 27th. Stifel Nicolaus raised their price objective on Hersha Hospitality Trust from $20.50 to $22.00 and gave the stock a hold rating in a research report on Tuesday, June 26th. Jefferies Financial Group started coverage on Hersha Hospitality Trust in a research report on Thursday, May 31st. They issued a hold rating and a $22.00 price objective for the company. Finally, Raymond James downgraded Hersha Hospitality Trust to a hold rating in a research report on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Hersha Hospitality Trust presently has an average rating of Hold and an average target price of $20.78.
Shares of HT stock opened at $22.05 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 1.07. Hersha Hospitality Trust has a 12 month low of $16.60 and a 12 month high of $22.57. The company has a market capitalization of $847.07 million, a price-to-earnings ratio of 10.16, a PEG ratio of 2.19 and a beta of 1.33.
Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.12. Hersha Hospitality Trust had a negative return on equity of 0.58% and a negative net margin of 2.74%. The company had revenue of $133.84 million during the quarter, compared to the consensus estimate of $135.57 million. equities research analysts forecast that Hersha Hospitality Trust will post 1.98 EPS for the current year.
In other news, Director Thomas J. Hutchison III sold 10,000 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $21.94, for a total value of $219,400.00. Following the completion of the transaction, the director now directly owns 85,510 shares of the company’s stock, valued at approximately $1,876,089.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 10.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Hersha Hospitality Trust during the 1st quarter valued at $113,000. Tower Research Capital LLC TRC acquired a new stake in Hersha Hospitality Trust during the 2nd quarter valued at $151,000. Commonwealth Bank of Australia increased its holdings in Hersha Hospitality Trust by 72.2% during 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 purchasing an additional 3,320 shares in the last quarter. Pensionfund Sabic acquired a new stake in Hersha Hospitality Trust during the 2nd quarter valued at $172,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in Hersha Hospitality Trust during the 2nd quarter valued at $184,000. 93.86% of the stock is owned by institutional investors and hedge funds.
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 7,653 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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