Insider Buying: Hersha Hospitality Trust (HT) CEO Acquires 5,800 Shares of Stock

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Hersha Hospitality Trust (NYSE:HT) CEO Jay H. Shah acquired 5,800 shares of the firm’s stock in a transaction on Friday, November 2nd. The shares were bought at an average cost of $17.30 per share, for a total transaction of $100,340.00. Following the completion of the acquisition, the chief executive officer now owns 289,420 shares of the company’s stock, valued at $5,006,966. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of NYSE:HT traded up $0.31 during midday trading on Monday, hitting $17.67. The company’s stock had a trading volume of 393,200 shares, compared to its average volume of 426,598. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.09. The company has a market cap of $684.40 million, a P/E ratio of 8.18, a P/E/G ratio of 1.90 and a beta of 1.52. Hersha Hospitality Trust has a 12-month low of $16.60 and a 12-month high of $24.16.

Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.03). The firm had revenue of $127.88 million for the quarter, compared to analysts’ expectations of $134.82 million. On average, analysts expect that Hersha Hospitality Trust will post 1.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend was Friday, September 28th. Hersha Hospitality Trust’s dividend payout ratio is currently 51.85%.

Several equities analysts have issued reports on HT shares. Barclays increased their price objective on shares of Hersha Hospitality Trust from $18.00 to $20.00 and gave the company an “underweight” rating in a report on Monday, July 30th. Zacks Investment Research downgraded 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 report on Tuesday, August 14th. Robert W. Baird downgraded shares of Hersha Hospitality Trust from an “outperform” rating to a “neutral” rating in a report on Monday, August 20th. Finally, Stifel Nicolaus increased their price objective on shares of Hersha Hospitality Trust from $22.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.63.

Several large investors have recently bought and sold shares of HT. Wells Fargo & Company MN lifted its stake in shares of Hersha Hospitality Trust by 4.5% in the first 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Hersha Hospitality Trust by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 737,811 shares of the real estate investment trust’s stock worth $13,207,000 after buying an additional 2,849 shares in the last quarter. UBS Group AG lifted its stake in shares of Hersha Hospitality Trust by 429.4% in the first quarter. UBS Group AG now owns 49,148 shares of the real estate investment trust’s stock worth $880,000 after buying an additional 39,864 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Hersha Hospitality Trust by 17.6% in the first quarter. Legal & General Group Plc now owns 202,863 shares of the real estate investment trust’s stock worth $3,631,000 after buying an additional 30,294 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. lifted its stake in shares of Hersha Hospitality Trust by 2.5% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 1,191,499 shares of the real estate investment trust’s stock worth $25,558,000 after buying an additional 28,770 shares in the last quarter. 94.30% of the stock is currently owned by hedge funds and other institutional investors.

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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 7,666 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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