Hersha Hospitality Trust (NYSE:HT) Rating Increased to Hold at Zacks Investment Research

Hersha Hospitality Trust (NYSE:HT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

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) “

Several other equities research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. BMO Capital Markets restated a “sell” rating and set a $12.50 price objective on shares of Hersha Hospitality Trust in a research report on Wednesday, November 6th. Deutsche Bank restated a “hold” rating and set a $14.00 price objective on shares of Hersha Hospitality Trust in a research report on Tuesday, November 12th. Finally, Barclays restated a “sell” rating and set a $14.00 price objective on shares of Hersha Hospitality Trust in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Hersha Hospitality Trust has an average rating of “Hold” and an average target price of $14.67.

HT stock traded down $0.11 during mid-day trading on Friday, hitting $14.16. 447,442 shares of the company were exchanged, compared to its average volume of 442,864. The business has a 50 day simple moving average of $13.74 and a 200-day simple moving average of $14.19. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $544.80 million, a PE ratio of -23.60, a price-to-earnings-growth ratio of 1.90 and a beta of 1.31. Hersha Hospitality Trust has a 1-year low of $12.84 and a 1-year high of $20.38.

In other Hersha Hospitality Trust news, CEO Jay H. Shah bought 7,300 shares of the stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $13.51 per share, with a total value of $98,623.00. Following the completion of the acquisition, the chief executive officer now owns 316,349 shares of the company’s stock, valued at $4,273,874.99. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Neil H. Shah bought 3,846 shares of the stock in a transaction dated Monday, January 27th. The shares were acquired at an average cost of $12.98 per share, for a total transaction of $49,921.08. Following the completion of the acquisition, the chief operating officer now directly owns 365,532 shares of the company’s stock, valued at approximately $4,744,605.36. The disclosure for this purchase can be found here. Insiders have bought 12,146 shares of company stock worth $162,744 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. Millennium Management LLC increased its stake in Hersha Hospitality Trust by 890.5% in the third quarter. Millennium Management LLC now owns 276,141 shares of the real estate investment trust’s stock valued at $4,108,000 after acquiring an additional 248,263 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Hersha Hospitality Trust by 407.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 308,332 shares of the real estate investment trust’s stock valued at $5,285,000 after acquiring an additional 247,542 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in Hersha Hospitality Trust in the fourth quarter valued at approximately $2,310,000. California Public Employees Retirement System increased its stake in Hersha Hospitality Trust by 149.5% in the fourth quarter. California Public Employees Retirement System now owns 254,827 shares of the real estate investment trust’s stock valued at $3,708,000 after acquiring an additional 152,705 shares during the last quarter. Finally, Morgan Stanley increased its stake in Hersha Hospitality Trust by 303.0% in the second quarter. Morgan Stanley now owns 182,262 shares of the real estate investment trust’s stock valued at $3,014,000 after acquiring an additional 137,033 shares during the last quarter. 88.21% of the stock is currently owned by institutional investors.

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, 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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Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

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