Swiss National Bank Reduces Position in Hersha Hospitality Trust (HT)

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Swiss National Bank lessened its stake in Hersha Hospitality Trust (NYSE:HT) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,875 shares of the real estate investment trust’s stock after selling 7,000 shares during the period. Swiss National Bank owned approximately 0.17% of Hersha Hospitality Trust worth $1,413,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Bessemer Group Inc. purchased a new stake in shares of Hersha Hospitality Trust during the 2nd quarter valued at about $757,000. Wells Fargo & Company MN grew its holdings in Hersha Hospitality Trust by 4.5% during the 1st quarter. Wells Fargo & Company MN now owns 170,698 shares of the real estate investment trust’s stock valued at $3,055,000 after purchasing an additional 7,399 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Hersha Hospitality Trust by 39.0% during the 1st quarter. New York State Common Retirement Fund now owns 85,315 shares of the real estate investment trust’s stock valued at $1,527,000 after purchasing an additional 23,935 shares during the last quarter. Northern Trust Corp grew its stake in Hersha Hospitality Trust by 6.8% in the 1st quarter. Northern Trust Corp now owns 871,798 shares of the real estate investment trust’s stock worth $15,606,000 after acquiring an additional 55,256 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in Hersha Hospitality Trust in the 2nd quarter worth about $4,868,000. 92.40% of the stock is owned by hedge funds and other institutional investors.

NYSE:HT opened at $21.39 on Tuesday. The firm has a market capitalization of $892.75 million, a PE ratio of 9.82, a price-to-earnings-growth ratio of 2.09 and a beta of 1.29. Hersha Hospitality Trust has a 1-year low of $16.60 and a 1-year high of $24.16. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.07.

Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings results on Tuesday, July 24th. The real estate investment trust reported $0.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.12. The company had revenue of $133.84 million for the quarter, compared to analyst estimates of $135.57 million. Hersha Hospitality Trust had a negative net margin of 2.74% and a negative return on equity of 0.58%. Research analysts predict that Hersha Hospitality Trust will post 1.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.12 annualized dividend and a yield of 5.24%. Hersha Hospitality Trust’s dividend payout ratio is presently 51.85%.

A number of equities analysts have commented on HT shares. Zacks Investment Research upgraded shares of Hersha Hospitality Trust from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Tuesday, August 21st. DA Davidson upped their price target on shares of Hersha Hospitality Trust from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, June 22nd. Finally, Stifel Nicolaus upped their price target on shares of Hersha Hospitality Trust from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Hersha Hospitality Trust presently has an average rating of “Hold” and an average price target of $21.11.

In other news, Director Thomas J. Hutchison III sold 5,000 shares of Hersha Hospitality Trust stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $22.69, for a total value of $113,450.00. Following the sale, the director now owns 85,510 shares in the company, valued at $1,940,221.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas J. Hutchison III sold 10,000 shares of Hersha Hospitality Trust stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $21.94, for a total transaction of $219,400.00. Following the completion of the sale, the director now owns 85,510 shares in the company, valued at approximately $1,876,089.40. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by company insiders.

Hersha Hospitality Trust Profile

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets and coastal destinations. The Company's 49 hotels totaling 7,666 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

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