Hersha Hospitality Trust (NYSE:HT) Hits New 1-Year Low After Analyst Downgrade

Hersha Hospitality Trust (NYSE:HT)’s share price reached a new 52-week low on Friday after Wells Fargo & Co lowered their price target on the stock from $13.50 to $12.50. Wells Fargo & Co currently has an underperform rating on the stock. Hersha Hospitality Trust traded as low as $13.00 and last traded at $13.43, with a volume of 139594 shares changing hands. The stock had previously closed at $13.70.

Several other research firms have also recently weighed in on HT. DA Davidson cut shares of Hersha Hospitality Trust from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Stifel Nicolaus set a $18.00 price target on shares of Hersha Hospitality Trust and gave the company a “hold” rating in a report on Wednesday, July 31st. BMO Capital Markets assumed coverage on shares of Hersha Hospitality Trust in a report on Wednesday. They issued an “underperform” rating and a $12.50 price target on the stock. ValuEngine raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Deutsche Bank set a $16.00 price target on shares of Hersha Hospitality Trust and gave the company a “hold” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $16.43.

In other Hersha Hospitality Trust news, CEO Jay H. Shah bought 7,320 shares of the stock in a transaction dated Monday, August 26th. The shares were bought at an average cost of $13.65 per share, with a total value of $99,918.00. Following the completion of the acquisition, the chief executive officer now owns 298,200 shares of the company’s stock, valued at $4,070,430. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jay H. Shah bought 5,100 shares of the stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average cost of $14.75 per share, for a total transaction of $75,225.00. Following the completion of the acquisition, the chief executive officer now directly owns 294,520 shares of the company’s stock, valued at approximately $4,344,170. The disclosure for this purchase can be found here. Insiders have bought 39,806 shares of company stock worth $539,833 over the last ninety days. Insiders own 11.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in shares of Hersha Hospitality Trust during the second quarter worth approximately $61,000. Bank of Montreal Can increased its holdings in shares of Hersha Hospitality Trust by 121.9% during the second quarter. Bank of Montreal Can now owns 5,126 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 2,816 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Hersha Hospitality Trust by 187.2% during the third quarter. Nisa Investment Advisors LLC now owns 9,595 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 6,254 shares during the period. Pathstone Family Office LLC bought a new position in shares of Hersha Hospitality Trust during the second quarter worth approximately $174,000. Finally, Ellington Management Group LLC bought a new position in shares of Hersha Hospitality Trust during the second quarter worth approximately $184,000. 94.02% of the stock is currently owned by institutional investors.

The company’s fifty day moving average price is $14.49 and its 200 day moving average price is $16.28. The company has a market capitalization of $549.00 million, a P/E ratio of 6.14, a PEG ratio of 1.42 and a beta of 1.34. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.17.

Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.75). The business had revenue of $147.50 million for the quarter, compared to the consensus estimate of $146.81 million. Hersha Hospitality Trust had a return on equity of 0.44% and a net margin of 0.78%. Research analysts predict that Hersha Hospitality Trust will post 1.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.12 annualized dividend and a dividend yield of 8.29%. Hersha Hospitality Trust’s dividend payout ratio is 50.91%.

Hersha Hospitality Trust Company Profile (NYSE:HT)

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale, luxury and lifestyle hotels in urban gateway markets and coastal destinations. The Company's 48 hotels totaling 7,644 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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