Jay H. Shah Purchases 5,100 Shares of Hersha Hospitality Trust (NYSE:HT) Stock

Hersha Hospitality Trust (NYSE:HT) CEO Jay H. Shah acquired 5,100 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $14.75 per share, with a total value of $75,225.00. Following the transaction, the chief executive officer now owns 294,520 shares of the company’s stock, valued at $4,344,170. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

HT stock traded up $0.34 during trading on Tuesday, reaching $14.92. 339,147 shares of the stock traded hands, compared to its average volume of 355,868. The firm’s 50 day simple moving average is $16.42. Hersha Hospitality Trust has a 52-week low of $14.11 and a 52-week high of $24.16. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.17. The firm has a market cap of $572.56 million, a price-to-earnings ratio of 6.78, a PEG ratio of 1.54 and a beta of 1.30.

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

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date was Thursday, June 27th. Hersha Hospitality Trust’s dividend payout ratio (DPR) is presently 50.91%.

HT has been the subject of a number of recent analyst reports. Deutsche Bank set a $16.00 price objective on Hersha Hospitality Trust and gave the company a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. DA Davidson downgraded Hersha Hospitality Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. ValuEngine downgraded Hersha Hospitality Trust from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus set a $18.00 price objective on Hersha Hospitality Trust and gave the company a “hold” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $18.29.

A number of hedge funds have recently bought and sold shares of HT. Norges Bank purchased a new stake in Hersha Hospitality Trust during the fourth quarter valued at about $10,246,000. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Hersha Hospitality Trust by 407.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 308,332 shares of the real estate investment trust’s stock worth $5,285,000 after purchasing an additional 247,542 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Hersha Hospitality Trust during the second quarter worth about $4,037,000. Hillcrest Asset Management LLC lifted its stake in shares of Hersha Hospitality Trust by 36.1% during the first quarter. Hillcrest Asset Management LLC now owns 561,805 shares of the real estate investment trust’s stock worth $9,629,000 after purchasing an additional 149,036 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Hersha Hospitality Trust by 204.7% during the fourth quarter. Millennium Management LLC now owns 163,922 shares of the real estate investment trust’s stock worth $2,875,000 after purchasing an additional 110,127 shares in the last quarter. 96.50% of the stock is owned by hedge funds and other institutional investors.

About Hersha Hospitality Trust

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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