DA Davidson Lowers Hersha Hospitality Trust (NYSE:HT) to Neutral

DA Davidson downgraded shares of Hersha Hospitality Trust (NYSE:HT) from a buy rating to a neutral rating in a report issued on Thursday, Briefing.com Automated Import reports.

Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Hersha Hospitality Trust from a sell rating to a hold rating in a report on Wednesday. ValuEngine cut Hersha Hospitality Trust from a sell rating to a strong sell rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $18.29.

HT traded up $0.49 during midday trading on Thursday, hitting $15.02. The company’s stock had a trading volume of 363,886 shares, compared to its average volume of 340,649. The company has a current ratio of 0.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $570.60 million, a price-to-earnings ratio of 6.83, a P/E/G ratio of 1.49 and a beta of 1.30. The firm has a 50-day simple moving average of $16.55. Hersha Hospitality Trust has a 52-week low of $14.45 and a 52-week high of $24.16.

Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.75). The business had revenue of $147.50 million during the quarter, compared to analysts’ expectations of $146.81 million. Hersha Hospitality Trust had a net margin of 0.78% and a return on equity of 0.44%. On average, sell-side analysts forecast that Hersha Hospitality Trust will post 1.83 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.46%. The ex-dividend date of this dividend was Thursday, June 27th. Hersha Hospitality Trust’s payout ratio is currently 50.91%.

In other news, insider Neil H. Shah bought 6,060 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average price of $16.48 per share, for a total transaction of $99,868.80. Following the acquisition, the insider now owns 328,252 shares of the company’s stock, valued at $5,409,592.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 11.80% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Northern Trust Corp lifted its position in Hersha Hospitality Trust by 2.2% during the 4th quarter. Northern Trust Corp now owns 821,470 shares of the real estate investment trust’s stock worth $14,408,000 after acquiring an additional 17,886 shares in the last quarter. Norges Bank acquired a new position in Hersha Hospitality Trust during the 4th quarter worth approximately $10,246,000. Hillcrest Asset Management LLC lifted its position in Hersha Hospitality Trust by 36.1% during the 1st quarter. Hillcrest Asset Management LLC now owns 561,805 shares of the real estate investment trust’s stock worth $9,629,000 after acquiring an additional 149,036 shares in the last quarter. Real Estate Management Services LLC lifted its position in Hersha Hospitality Trust by 2.4% during the 2nd quarter. Real Estate Management Services LLC now owns 526,500 shares of the real estate investment trust’s stock worth $8,708,000 after acquiring an additional 12,200 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Hersha Hospitality Trust by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 491,475 shares of the real estate investment trust’s stock worth $8,620,000 after acquiring an additional 28,428 shares in the last quarter. Institutional investors and hedge funds own 96.41% of the company’s stock.

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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