B. Riley set a $19.00 price objective on Hersha Hospitality Trust (NYSE:HT) in a report issued on Thursday, October 25th. The firm currently has a hold rating on the real estate investment trust’s stock.
A number of other equities analysts also recently commented on HT. Zacks Investment Research upgraded Hersha Hospitality Trust from a hold rating to a buy rating and set a $24.00 target price for the company in a research note on Wednesday, June 27th. Barclays lifted their price target on Hersha Hospitality Trust from $18.00 to $20.00 and gave the company an underweight rating in a report on Monday, July 30th. Robert W. Baird cut Hersha Hospitality Trust from an outperform rating to a neutral rating in a report on Monday, August 20th. Finally, Stifel Nicolaus lifted their price target on Hersha Hospitality Trust from $22.00 to $23.00 and gave the company a hold rating in a report on Wednesday, August 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Hersha Hospitality Trust presently has a consensus rating of Hold and a consensus price target of $21.63.
NYSE:HT opened at $17.97 on Thursday. The stock has a market capitalization of $708.45 million, a P/E ratio of 8.32, a PEG ratio of 1.97 and a beta of 1.52. Hersha Hospitality Trust has a one year low of $16.60 and a one year high of $24.16. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.45 and a quick ratio of 0.45.
In other Hersha Hospitality Trust news, Director Thomas J. Hutchison III sold 5,000 shares of Hersha Hospitality Trust stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $22.69, for a total transaction of $113,450.00. Following the transaction, the director now directly owns 85,510 shares in the company, valued at approximately $1,940,221.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Hasu P. Shah acquired 1,750 shares of the stock in a transaction on Friday, November 2nd. The shares were purchased at an average price of $17.25 per share, for a total transaction of $30,187.50. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 13,500 shares of company stock worth $233,860. 10.30% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new position in shares of Hersha Hospitality Trust during the 2nd quarter valued at $151,000. Commonwealth Bank of Australia grew its holdings in shares of Hersha Hospitality Trust by 72.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 7,920 shares of the real estate investment trust’s stock valued at $169,000 after acquiring an additional 3,320 shares in the last quarter. Pensionfund Sabic purchased a new position in shares of Hersha Hospitality Trust during the 2nd quarter valued at $172,000. Piedmont Investment Advisors LLC purchased a new position in shares of Hersha Hospitality Trust during the 2nd quarter valued at $184,000. Finally, 6 Meridian purchased a new position in shares of Hersha Hospitality Trust during the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 97.23% of the company’s stock.
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 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.
Further Reading: What is the Coverage Ratio?
Receive News & Ratings for Hersha Hospitality Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hersha Hospitality Trust and related companies with MarketBeat.com's FREE daily email newsletter.