Analysts expect Hersha Hospitality Trust (NYSE:HT) to post sales of $134.94 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Hersha Hospitality Trust’s earnings, with estimates ranging from $127.04 million to $150.52 million. Hersha Hospitality Trust reported sales of $129.59 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.1%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Hersha Hospitality Trust will report full-year sales of $504.54 million for the current year, with estimates ranging from $494.22 million to $532.80 million. For the next year, analysts expect that the business will post sales of $540.05 million per share, with estimates ranging from $499.93 million to $591.65 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Hersha Hospitality Trust.
Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.12. The firm had revenue of $133.84 million during the quarter, compared to analysts’ expectations of $135.57 million. Hersha Hospitality Trust had a negative return on equity of 0.58% and a negative net margin of 2.74%.
A number of equities analysts recently issued reports on HT shares. Zacks Investment Research upgraded Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, August 21st. Barclays raised their target price on Hersha Hospitality Trust from $18.00 to $20.00 and gave the stock an “underweight” rating in a research note on Monday, July 30th. Stifel Nicolaus raised their target price on Hersha Hospitality Trust from $22.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday, August 29th. Finally, DA Davidson raised their target price on Hersha Hospitality Trust from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, June 22nd. 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 company’s stock. Hersha Hospitality Trust has a consensus rating of “Hold” and a consensus price target of $21.11.
In related news, Director Thomas J. Hutchison III sold 10,000 shares of the firm’s stock in a transaction 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 owns 85,510 shares in the company, valued at approximately $1,876,089.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HT. Bessemer Group Inc. acquired a new stake in shares of Hersha Hospitality Trust during the 2nd quarter valued at about $757,000. Martingale Asset Management L P boosted its holdings in Hersha Hospitality Trust by 1,068.2% in the 2nd quarter. Martingale Asset Management L P now owns 169,382 shares of the real estate investment trust’s stock worth $3,634,000 after buying an additional 154,882 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Hersha Hospitality Trust by 4.5% in the 1st quarter. Wells Fargo & Company MN now owns 170,698 shares of the real estate investment trust’s stock worth $3,055,000 after buying an additional 7,399 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Hersha Hospitality Trust by 39.0% in the 1st quarter. New York State Common Retirement Fund now owns 85,315 shares of the real estate investment trust’s stock worth $1,527,000 after buying an additional 23,935 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Hersha Hospitality Trust by 6.8% in the 1st quarter. Northern Trust Corp now owns 871,798 shares of the real estate investment trust’s stock worth $15,606,000 after buying an additional 55,256 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.
HT stock traded down $0.39 during midday trading on Friday, reaching $22.69. The stock had a trading volume of 306,300 shares, compared to its average volume of 433,101. The firm has a market capitalization of $910.08 million, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 2.13 and a beta of 1.30. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.56 and a quick ratio of 0.56. Hersha Hospitality Trust has a 52-week low of $16.60 and a 52-week high of $24.16.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be paid a $0.28 dividend. The ex-dividend date is Friday, September 28th. This represents a $1.12 dividend on an annualized basis and a yield of 4.94%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is 51.85%.
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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