Canaccord Genuity reissued their hold rating on shares of Hersha Hospitality Trust (NYSE:HT) in a research note released on Thursday morning. Canaccord Genuity currently has a $22.00 target price on the real estate investment trust’s stock.
Several other equities research analysts also recently weighed in on HT. FBR & Co reduced their price target on Hersha Hospitality Trust from $26.00 to $25.00 and set an outperform rating on the stock in a report on Thursday, October 27th. Zacks Investment Research downgraded Hersha Hospitality Trust from a hold rating to a strong sell rating in a report on Tuesday, January 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Hersha Hospitality Trust presently has a consensus rating of Hold and an average price target of $20.80.
Shares of Hersha Hospitality Trust (NYSE:HT) opened at 20.34 on Thursday. The stock has a market cap of $851.03 million, a PE ratio of 8.80 and a beta of 1.33. Hersha Hospitality Trust has a 12-month low of $15.36 and a 12-month high of $22.15. The firm has a 50 day moving average price of $21.08 and a 200 day moving average price of $19.38.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Thursday, January 5th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, January 3rd. This represents a $1.12 annualized dividend and a yield of 5.51%. Hersha Hospitality Trust’s dividend payout ratio (DPR) is presently 47.86%.
In other news, Director Thomas J. Hutchison III sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $20.07, for a total value of $200,700.00. Following the completion of the sale, the director now owns 66,181 shares of the company’s stock, valued at approximately $1,328,252.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas J. Hutchison III sold 8,000 shares of the firm’s stock in a transaction on Thursday, December 29th. The stock was sold at an average price of $21.34, for a total value of $170,720.00. Following the completion of the sale, the director now directly owns 58,181 shares of the company’s stock, valued at approximately $1,241,582.54. The disclosure for this sale can be found here. Insiders bought a total of 5,779 shares of company stock valued at $99,965 in the last three months. Insiders own 7.10% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Real Estate Management Services LLC boosted its stake in Hersha Hospitality Trust by 28.9% in the second quarter. Real Estate Management Services LLC now owns 1,815,397 shares of the real estate investment trust’s stock worth $31,134,000 after buying an additional 407,200 shares during the last quarter. Swiss National Bank boosted its stake in Hersha Hospitality Trust by 3.6% in the second quarter. Swiss National Bank now owns 72,775 shares of the real estate investment trust’s stock worth $1,248,000 after buying an additional 2,500 shares during the last quarter. Teachers Advisors LLC boosted its stake in Hersha Hospitality Trust by 101.4% in the third quarter. Teachers Advisors LLC now owns 596,403 shares of the real estate investment trust’s stock worth $10,747,000 after buying an additional 300,236 shares during the last quarter. First Trust Advisors LP boosted its stake in Hersha Hospitality Trust by 83.2% in the second quarter. First Trust Advisors LP now owns 77,417 shares of the real estate investment trust’s stock worth $1,328,000 after buying an additional 35,163 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Hersha Hospitality Trust by 8.0% in the third quarter. California Public Employees Retirement System now owns 115,243 shares of the real estate investment trust’s stock worth $2,077,000 after buying an additional 8,500 shares during the last quarter.
About Hersha Hospitality Trust
Hersha Hospitality Trust is a real estate investment trust. The Company operates through investment in hotel properties segment. It invests in institutional grade hotels in urban gateway markets, including New York, Washington District of Columbia (DC), Boston, Philadelphia, South Florida and select markets on the West Coast.
