Hersha Hospitality Trust (HT) to Post FY2017 Earnings of $1.97 Per Share, FBR & Co Forecasts
Hersha Hospitality Trust (NYSE:HT) – Equities researchers at FBR & Co reduced their FY2017 EPS estimates for shares of Hersha Hospitality Trust in a research report issued on Thursday. FBR & Co analyst Maher. B now anticipates that the real estate investment trust will post earnings per share of $1.97 for the year, down from their prior forecast of $2.15. FBR & Co currently has a “Buy” rating and a $20.00 price objective on the stock. FBR & Co also issued estimates for Hersha Hospitality Trust’s FY2018 earnings at $2.17 EPS.
Other analysts have also issued research reports about the company. Robert W. Baird reaffirmed a “buy” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a report on Thursday, October 12th. DA Davidson assumed coverage on Hersha Hospitality Trust in a research note on Friday, September 29th. They issued a “buy” rating and a $21.00 price target on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.00 price target on shares of Hersha Hospitality Trust in a research note on Thursday, September 7th. BidaskClub raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.60.
Hersha Hospitality Trust (HT) opened at 17.69 on Monday. The stock has a market capitalization of $740.04 million, a PE ratio of 7.76 and a beta of 1.39. Hersha Hospitality Trust has a 1-year low of $16.80 and a 1-year high of $22.14. The stock’s 50 day moving average price is $18.55 and its 200 day moving average price is $18.58.
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend was Thursday, September 28th. Hersha Hospitality Trust’s dividend payout ratio is currently 52.09%.
In other news, insider Neil H. Shah purchased 5,673 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was bought at an average cost of $17.48 per share, for a total transaction of $99,164.04. Following the purchase, the insider now owns 305,033 shares of the company’s stock, valued at $5,331,976.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Neil H. Shah purchased 1,667 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average price of $17.86 per share, with a total value of $29,772.62. Following the completion of the purchase, the chief operating officer now directly owns 297,418 shares in the company, valued at approximately $5,311,885.48. The disclosure for this purchase can be found here. Insiders have purchased 17,175 shares of company stock worth $304,665 in the last three months. 8.10% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Asset Management Americas Inc. raised its position in Hersha Hospitality Trust by 55.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 62,911 shares of the real estate investment trust’s stock worth $1,182,000 after purchasing an additional 22,544 shares during the last quarter. Arizona State Retirement System bought a new position in shares of Hersha Hospitality Trust in the 1st quarter worth about $408,000. American International Group Inc. raised its position in shares of Hersha Hospitality Trust by 7.0% in the 1st quarter. American International Group Inc. now owns 25,483 shares of the real estate investment trust’s stock worth $479,000 after acquiring an additional 1,668 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of Hersha Hospitality Trust in the 1st quarter worth about $179,000. Finally, Credit Agricole S A raised its position in shares of Hersha Hospitality Trust by 18.1% in the 1st quarter. Credit Agricole S A now owns 22,773 shares of the real estate investment trust’s stock worth $428,000 after acquiring an additional 3,489 shares in the last quarter. Institutional investors own 98.01% 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 July 20, 2017, the Company’s hotels included 51 hotels totaling 7,804 rooms located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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