Wakefield Asset Management LLLP Invests $797,000 in Hersha Hospitality Trust (NYSE:HT)

Wakefield Asset Management LLLP purchased a new position in shares of Hersha Hospitality Trust (NYSE:HT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 74,079 shares of the real estate investment trust’s stock, valued at approximately $797,000. Wakefield Asset Management LLLP owned approximately 0.19% of Hersha Hospitality Trust as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of HT. Quantbot Technologies LP bought a new stake in Hersha Hospitality Trust during the 1st quarter worth $80,000. Dynamic Technology Lab Private Ltd acquired a new position in Hersha Hospitality Trust during the 1st quarter worth approximately $113,000. Algert Global LLC acquired a new position in Hersha Hospitality Trust during the 1st quarter worth approximately $129,000. Tudor Investment Corp Et Al purchased a new stake in shares of Hersha Hospitality Trust in the first quarter worth approximately $141,000. Finally, IndexIQ Advisors LLC raised its stake in shares of Hersha Hospitality Trust by 12.1% in the second quarter. IndexIQ Advisors LLC now owns 16,261 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 1,750 shares during the last quarter.

A number of equities analysts have recently commented on the company. Zacks Investment Research raised Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Tuesday, August 17th. Wells Fargo & Company reduced their price objective on Hersha Hospitality Trust from $12.00 to $10.50 and set an “equal weight” rating on the stock in a research note on Thursday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $9.96 target price (up from $8.00) on shares of Hersha Hospitality Trust in a research note on Tuesday, July 27th. Finally, Barclays cut their price objective on Hersha Hospitality Trust from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, September 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.85.

Shares of NYSE HT traded down $0.13 during midday trading on Wednesday, reaching $9.29. 784 shares of the company’s stock traded hands, compared to its average volume of 415,886. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.97. The stock’s 50 day simple moving average is $9.40 and its 200-day simple moving average is $10.51. Hersha Hospitality Trust has a one year low of $4.70 and a one year high of $13.05. The company has a market cap of $364.33 million, a price-to-earnings ratio of -3.05 and a beta of 2.81.

Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, July 27th. The real estate investment trust reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.48). Hersha Hospitality Trust had a negative net margin of 51.76% and a negative return on equity of 14.41%. Equities analysts predict that Hersha Hospitality Trust will post -0.39 EPS for the current fiscal year.

In other Hersha Hospitality Trust news, Director Michael A. Leven sold 10,057 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $9.37, for a total value of $94,234.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 18.20% of the company’s stock.

Hersha Hospitality Trust Profile

Hersha Hospitality Trust is a self-advised real estate investment trust in the hospitality sector, which owns and operates hotels in urban gateway markets. Its hotel properties are located in in New York, Boston, Philadelphia, Washington, the District of Columbia, Miami, 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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