Zacks Investment Research upgraded shares of Hersha Hospitality Trust (NYSE:HT) from a hold rating to a buy rating in a research note issued to investors on Monday. Zacks Investment Research currently has $25.00 price objective on the real estate investment trust’s stock.
According to Zacks, “Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focussed on the hospitality industry. Hersha currently owns, operates, and develops a portfolio of hotels and assisted living facilities in the mid-Atlantic region of the United States. (PRESS RELEASE) “
A number of other research analysts also recently commented on the stock. Jefferies Financial Group initiated coverage on shares of 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. DA Davidson lifted their price objective on shares of Hersha Hospitality Trust from $21.00 to $24.00 and gave the company a buy rating in a research report on Friday, June 22nd. Stifel Nicolaus lifted their price objective on shares of Hersha Hospitality Trust from $20.50 to $22.00 and gave the company a hold rating in a research report on Tuesday, June 26th. Barclays lifted their price objective on shares of Hersha Hospitality Trust from $18.00 to $20.00 and gave the company an underweight rating in a research report on Monday, July 30th. Finally, Robert W. Baird downgraded shares of Hersha Hospitality Trust from an outperform rating to a neutral rating in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $21.00.
Hersha Hospitality Trust stock opened at $23.37 on Monday. The firm has a market capitalization of $890.78 million, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 2.08 and a beta of 1.33. Hersha Hospitality Trust has a 1-year low of $16.60 and a 1-year high of $23.64. 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 (NYSE:HT) last released its earnings results on Tuesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.12. The business had revenue of $133.84 million during the quarter, compared to the consensus estimate of $135.57 million. Hersha Hospitality Trust had a negative net margin of 2.74% and a negative return on equity of 0.58%. research analysts anticipate that Hersha Hospitality Trust will post 1.98 earnings per share for the current year.
In related news, Director Thomas J. Hutchison III sold 10,000 shares of Hersha Hospitality Trust stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $21.94, for a total transaction of $219,400.00. Following the completion of the sale, the director now 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 10.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in HT. Millennium Management LLC acquired a new stake in Hersha Hospitality Trust in the 2nd quarter worth about $5,183,000. Tower Research Capital LLC TRC acquired a new stake in Hersha Hospitality Trust in the 2nd quarter worth about $151,000. Cubist Systematic Strategies LLC acquired a new stake in Hersha Hospitality Trust in the 2nd quarter worth about $447,000. 6 Meridian acquired a new stake in Hersha Hospitality Trust in the 2nd quarter worth about $202,000. Finally, Renaissance Technologies LLC raised its stake in Hersha Hospitality Trust by 168.6% in the 2nd quarter. Renaissance Technologies LLC now owns 246,800 shares of the real estate investment trust’s stock worth $5,294,000 after purchasing an additional 154,900 shares in the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.
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 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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