Goldman Sachs Group Inc. Has $10.60 Million Stake in Hersha Hospitality Trust (HT)

Goldman Sachs Group Inc. lessened its holdings in shares of Hersha Hospitality Trust (NYSE:HT) by 71.7% during the 4th quarter, Holdings Channel reports. The fund owned 608,980 shares of the real estate investment trust’s stock after selling 1,542,729 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Hersha Hospitality Trust were worth $10,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Hersha Hospitality Trust during the 3rd quarter valued at $135,000. Assetmark Inc. raised its position in shares of Hersha Hospitality Trust by 5,758.2% during the 4th quarter. Assetmark Inc. now owns 8,260 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 8,119 shares during the period. AMP Capital Investors Ltd bought a new stake in shares of Hersha Hospitality Trust during the 4th quarter valued at $208,000. Teacher Retirement System of Texas bought a new stake in shares of Hersha Hospitality Trust during the 4th quarter valued at $252,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Hersha Hospitality Trust during the 4th quarter valued at $308,000. Institutional investors and hedge funds own 97.89% of the company’s stock.

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In other Hersha Hospitality Trust news, CFO Ashish R. Parikh bought 1,485 shares of Hersha Hospitality Trust stock in a transaction dated Friday, March 2nd. The shares were purchased at an average cost of $16.84 per share, for a total transaction of $25,007.40. Following the acquisition, the chief financial officer now directly owns 109,465 shares in the company, valued at approximately $1,843,390.60. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jay H. Shah bought 2,975 shares of Hersha Hospitality Trust stock in a transaction dated Friday, March 2nd. The stock was acquired at an average price of $16.75 per share, for a total transaction of $49,831.25. Following the completion of the acquisition, the chief executive officer now owns 320,752 shares in the company, valued at $5,372,596. The disclosure for this purchase can be found here. Insiders own 8.10% of the company’s stock.

Shares of NYSE HT opened at $17.90 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market capitalization of $712.85, a price-to-earnings ratio of 8.29, a P/E/G ratio of 1.33 and a beta of 1.39. Hersha Hospitality Trust has a 52-week low of $16.60 and a 52-week high of $19.87.

Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings results on Wednesday, February 21st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.09. The company had revenue of $122.62 million for the quarter, compared to the consensus estimate of $115.68 million. Hersha Hospitality Trust had a net margin of 17.46% and a return on equity of 9.47%. Hersha Hospitality Trust’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. equities analysts forecast that Hersha Hospitality Trust will post 1.78 earnings per share for the current year.

Hersha Hospitality Trust announced that its board has authorized a share repurchase program on Wednesday, January 3rd that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.12 dividend on an annualized basis and a yield of 6.26%. Hersha Hospitality Trust’s dividend payout ratio is currently 51.85%.

Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Saturday, March 24th. B. Riley set a $20.00 price objective on shares of Hersha Hospitality Trust and gave the company a “buy” rating in a research report on Wednesday, February 21st. Stifel Nicolaus restated a “hold” rating and set a $18.00 price objective (down from $18.50) on shares of Hersha Hospitality Trust in a research report on Thursday, February 22nd. Robert W. Baird set a $18.00 price objective on shares of Hersha Hospitality Trust and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, ValuEngine downgraded shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $18.89.

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About Hersha Hospitality Trust

Hersha Hospitality Trust is a self-advised real estate investment trust (REIT). The Company invests primarily in institutional grade hotels in urban gateway markets, including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and select markets on the West Coast. As of December 31, 2017, the Company’s hotels included 50 hotels totaling 7,725 rooms located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

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