Hersha Hospitality Trust (NYSE:HT) Declares $0.28 Quarterly Dividend

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Hersha Hospitality Trust (NYSE:HT) announced a quarterly dividend on Friday, December 13th, Wall Street Journal reports. Investors of record on Friday, January 3rd will be paid a dividend of 0.28 per share by the real estate investment trust on Wednesday, January 15th. This represents a $1.12 annualized dividend and a dividend yield of 7.91%. The ex-dividend date of this dividend is Thursday, January 2nd.

Shares of Hersha Hospitality Trust stock opened at $14.16 on Friday. The firm’s 50 day moving average is $14.11 and its 200 day moving average is $15.15. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.28. Hersha Hospitality Trust has a 1 year low of $13.00 and a 1 year high of $20.38. The firm has a market capitalization of $540.94 million, a PE ratio of 7.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.30.

Hersha Hospitality Trust (NYSE:HT) last posted its earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.52 by ($0.67). Hersha Hospitality Trust had a return on equity of 0.21% and a net margin of 0.36%. The business had revenue of $135.00 million for the quarter, compared to analyst estimates of $135.62 million. As a group, research analysts anticipate that Hersha Hospitality Trust will post 1.73 earnings per share for the current year.

HT has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, December 4th. BMO Capital Markets reiterated a “sell” rating and set a $12.50 target price on shares of Hersha Hospitality Trust in a research report on Wednesday, November 6th. ValuEngine upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Deutsche Bank reiterated a “hold” rating and set a $14.00 target price on shares of Hersha Hospitality Trust in a research report on Tuesday, November 12th. Finally, Wells Fargo & Co cut their target price on shares of Hersha Hospitality Trust from $13.50 to $12.50 and set an “underperform” rating on the stock in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $14.67.

In other news, Director Thomas J. Hutchison III sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $14.45, for a total value of $144,500.00. Following the transaction, the director now owns 80,492 shares in the company, valued at approximately $1,163,109.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jay H. Shah purchased 73,578 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was purchased at an average price of $40.46 per share, for a total transaction of $2,976,965.88. Insiders bought a total of 94,887 shares of company stock worth $3,252,439 in the last 90 days. Corporate insiders own 11.80% 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.

Further Reading: How to interpret a stock’s beta number

Dividend History for Hersha Hospitality Trust (NYSE:HT)

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