Hersha Hospitality Trust (NYSE:HT)‘s stock had its “hold” rating reissued by equities researchers at Canaccord Genuity in a report released on Tuesday. They currently have a $22.00 target price on the real estate investment trust’s stock. Canaccord Genuity’s price objective suggests a potential upside of 3.48% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Zacks Investment Research raised Hersha Hospitality Trust from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 8th. FBR & Co lowered their target price on shares of Hersha Hospitality Trust from $26.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, October 27th. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Hersha Hospitality Trust has a consensus rating of “Hold” and a consensus target price of $20.80.
Hersha Hospitality Trust (NYSE:HT) traded up 0.33% during trading on Tuesday, hitting $21.26. The stock had a trading volume of 343,371 shares. Hersha Hospitality Trust has a 52-week low of $15.36 and a 52-week high of $22.15. The firm has a market cap of $889.52 million, a P/E ratio of 9.20 and a beta of 1.28. The company has a 50-day moving average of $20.80 and a 200 day moving average of $19.61.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Thursday, January 5th were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, January 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 5.27%. Hersha Hospitality Trust’s payout ratio is 47.86%.
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In other news, Director Thomas J. Hutchison III sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $20.07, for a total transaction of $200,700.00. Following the completion of the sale, the director now owns 66,181 shares in the company, valued at approximately $1,328,252.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas J. Hutchison III sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $21.34, for a total transaction of $170,720.00. Following the sale, the director now 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. 7.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of 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 in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Hersha Hospitality Trust during the fourth quarter worth about $5,601,000. Lazard Asset Management LLC increased its stake in shares of Hersha Hospitality Trust by 38,219.0% in the third quarter. Lazard Asset Management LLC now owns 114,957 shares of the real estate investment trust’s stock worth $2,071,000 after buying an additional 114,657 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Hersha Hospitality Trust by 81.4% in the third quarter. Prudential Financial Inc. now owns 194,232 shares of the real estate investment trust’s stock worth $3,500,000 after buying an additional 87,150 shares in the last quarter. Finally, Kissinger Financial Services LLC purchased a new stake in shares of Hersha Hospitality Trust during the third quarter worth about $1,370,000.
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.
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