Bank of New York Mellon Corp boosted its position in Hersha Hospitality Trust (NYSE:HT) by 76.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 723,546 shares of the real estate investment trust’s stock after buying an additional 312,360 shares during the period. Bank of New York Mellon Corp’s holdings in Hersha Hospitality Trust were worth $13,595,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in HT. Renaissance Technologies LLC boosted its stake in Hersha Hospitality Trust by 10.8% in the fourth quarter. Renaissance Technologies LLC now owns 639,825 shares of the real estate investment trust’s stock worth $13,756,000 after buying an additional 62,500 shares in the last quarter. Teachers Advisors LLC raised its stake in Hersha Hospitality Trust by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 599,929 shares of the real estate investment trust’s stock worth $12,898,000 after buying an additional 3,526 shares during the last quarter. Wells Fargo & Company MN raised its stake in Hersha Hospitality Trust by 19.5% in the first quarter. Wells Fargo & Company MN now owns 439,653 shares of the real estate investment trust’s stock worth $8,261,000 after buying an additional 71,818 shares during the last quarter. Norges Bank bought a new stake in Hersha Hospitality Trust during the fourth quarter worth about $7,881,000. Finally, ProShare Advisors LLC bought a new stake in Hersha Hospitality Trust during the first quarter worth about $108,000. Institutional investors and hedge funds own 96.55% of the company’s stock.
Hersha Hospitality Trust (NYSE HT) opened at 19.11 on Friday. The stock has a market cap of $798.70 million, a price-to-earnings ratio of 6.57 and a beta of 1.35. The firm’s 50 day moving average price is $18.78 and its 200-day moving average price is $19.71. Hersha Hospitality Trust has a 52 week low of $15.36 and a 52 week high of $22.14.
Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. Hersha Hospitality Trust had a net margin of 29.30% and a return on equity of 18.72%. The firm had revenue of $108 million during the quarter, compared to analyst estimates of $101.68 million. During the same quarter last year, the business posted $0.28 EPS. Analysts expect that Hersha Hospitality Trust will post $1.98 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend is Wednesday, June 28th. Hersha Hospitality Trust’s dividend payout ratio is 38.89%.
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A number of equities research analysts recently issued reports on HT shares. Bank of America Corporation lowered Hersha Hospitality Trust from a “neutral” rating to an “underperform” rating and set a $19.00 target price on the stock. in a research note on Friday, March 3rd. Barclays PLC reaffirmed an “equal weight” rating and issued a $19.00 target price (down previously from $21.00) on shares of Hersha Hospitality Trust in a research note on Wednesday, March 8th. Zacks Investment Research lowered Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, March 21st. Stifel Nicolaus reduced their target price on Hersha Hospitality Trust from $20.50 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, April 26th. Finally, JMP Securities lowered Hersha Hospitality Trust from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a research note on Monday, May 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Hersha Hospitality Trust currently has a consensus rating of “Hold” and a consensus target price of $20.11.
In related news, Director Thomas J. Hutchison III sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $18.76, for a total value of $93,800.00. Following the completion of the transaction, the director now owns 64,697 shares of the company’s stock, valued at approximately $1,213,715.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.10% of the company’s stock.
Hersha Hospitality Trust Company Profile
Hersha Hospitality Trust is a self-advised real estate investment trust (REIT). The Company invests primarily in institutional grade hotels in urban gateway markets, including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and select markets on the West Coast. As of December 31, 2016, the Company’s portfolio consisted of 43 limited and full service properties with a total of 6,344 rooms and interests in 12 limited and full service properties owned through joint venture investments with a total of 2,456 rooms.
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