New York State Teachers Retirement System cut its position in shares of Hersha Hospitality Trust (NYSE:HT) by 39.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,572 shares of the real estate investment trust’s stock after selling 10,800 shares during the quarter. New York State Teachers Retirement System’s holdings in Hersha Hospitality Trust were worth $355,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Real Estate Management Services LLC bought a new stake in Hersha Hospitality Trust in the second quarter worth about $22,875,000. Matarin Capital Management LLC bought a new stake in Hersha Hospitality Trust in the first quarter worth about $12,662,000. WINTON GROUP Ltd bought a new stake in Hersha Hospitality Trust in the first quarter worth about $6,320,000. Bank of Montreal Can bought a new stake in Hersha Hospitality Trust in the second quarter worth about $4,868,000. Finally, LSV Asset Management raised its position in Hersha Hospitality Trust by 29.2% in the first quarter. LSV Asset Management now owns 845,688 shares of the real estate investment trust’s stock worth $15,137,000 after acquiring an additional 191,100 shares during the period. Institutional investors and hedge funds own 96.47% of the company’s stock.
In other news, Director Thomas J. Hutchison III sold 10,000 shares of the business’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 value 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 10.30% of the company’s stock.
NYSE HT opened at $22.05 on Tuesday. Hersha Hospitality Trust has a 12-month low of $16.60 and a 12-month high of $22.57. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $872.66 million, a PE ratio of 10.21, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33.
Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.12. Hersha Hospitality Trust had a negative net margin of 2.74% and a negative return on equity of 0.58%. The company had revenue of $133.84 million for the quarter, compared to analyst estimates of $135.57 million. research analysts predict that Hersha Hospitality Trust will post 1.98 earnings per share for the current fiscal year.
Several brokerages have commented on HT. Stifel Nicolaus lifted their price objective on shares of Hersha Hospitality Trust from $20.50 to $22.00 and gave the stock a “hold” rating in a research report on Tuesday, June 26th. Robert W. Baird lowered shares of Hersha Hospitality Trust from an “outperform” rating to a “neutral” rating in a research report on Monday. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, August 14th. DA Davidson lifted their price objective on shares of Hersha Hospitality Trust from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, June 22nd. Finally, B. Riley lowered shares of Hersha Hospitality Trust from a “buy” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a research report on Thursday, April 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Hersha Hospitality Trust currently has an average rating of “Hold” and a consensus target price of $20.78.
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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