Hersha Hospitality Trust (NYSE:HT) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Hersha Hospitality Trust (NYSE:HT) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focussed on the hospitality industry. Hersha currently owns, operates, and develops a portfolio of hotels and assisted living facilities in the mid-Atlantic region of the United States. (PRESS RELEASE) “

Several other research analysts have also recently commented on the company. Raymond James upgraded Hersha Hospitality Trust from an underperform rating to a market perform rating in a research note on Monday, January 10th. Wells Fargo & Company upgraded Hersha Hospitality Trust from an equal weight rating to an overweight rating in a research note on Monday, October 18th. Finally, BMO Capital Markets upgraded Hersha Hospitality Trust from an underperform rating to a market perform rating and set a $10.00 price target on the stock in a research note on Friday, January 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Hersha Hospitality Trust currently has an average rating of Hold and an average price target of $10.14.

Shares of NYSE HT opened at $9.52 on Wednesday. Hersha Hospitality Trust has a 1-year low of $7.51 and a 1-year high of $13.05. The business has a 50-day moving average of $9.61 and a 200-day moving average of $9.52. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.00.

Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings results on Tuesday, October 26th. The real estate investment trust reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.55). Hersha Hospitality Trust had a negative return on equity of 10.42% and a negative net margin of 30.74%. During the same period last year, the firm posted ($0.46) earnings per share. Analysts anticipate that Hersha Hospitality Trust will post -0.43 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Real Estate Management Services LLC grew its holdings in Hersha Hospitality Trust by 11.6% in the 3rd quarter. Real Estate Management Services LLC now owns 393,400 shares of the real estate investment trust’s stock worth $3,670,000 after buying an additional 40,800 shares in the last quarter. Campbell Capital Management Inc. grew its holdings in Hersha Hospitality Trust by 38.0% in the 3rd quarter. Campbell Capital Management Inc. now owns 269,973 shares of the real estate investment trust’s stock worth $2,519,000 after buying an additional 74,273 shares in the last quarter. Invesco Ltd. grew its holdings in Hersha Hospitality Trust by 2.0% in the 2nd quarter. Invesco Ltd. now owns 164,380 shares of the real estate investment trust’s stock worth $1,768,000 after buying an additional 3,241 shares in the last quarter. Kylin Management LLC bought a new position in Hersha Hospitality Trust during the 2nd quarter valued at $18,830,000. Finally, State of Alaska Department of Revenue boosted its stake in Hersha Hospitality Trust by 5.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 40,994 shares of the real estate investment trust’s stock valued at $381,000 after purchasing an additional 2,046 shares in the last quarter. Institutional investors and hedge funds own 63.81% of the company’s stock.

About Hersha Hospitality Trust

Hersha Hospitality Trust is a self-advised real estate investment trust in the hospitality sector, which owns and operates hotels in urban gateway markets. Its hotel properties are located in in New York, Boston, Philadelphia, Washington, the District of Columbia, Miami, and select markets on the West Coast.

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