Hersha Hospitality Trust (NYSE:HT) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its stake in shares of Hersha Hospitality Trust (NYSE:HT) by 11.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 43,470 shares of the real estate investment trust’s stock after selling 5,730 shares during the period. Clearbridge Investments LLC owned approximately 0.10% of Hersha Hospitality Trust worth $817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan acquired a new stake in Hersha Hospitality Trust during the first quarter valued at approximately $179,000. Mason Street Advisors LLC purchased a new position in shares of Hersha Hospitality Trust during the first quarter worth approximately $184,000. KCG Holdings Inc. purchased a new position in shares of Hersha Hospitality Trust during the first quarter worth approximately $200,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Hersha Hospitality Trust during the first quarter worth approximately $231,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Hersha Hospitality Trust during the first quarter worth approximately $276,000. Institutional investors and hedge funds own 96.55% of the company’s stock.

Shares of Hersha Hospitality Trust (NYSE:HT) traded up 1.76% during midday trading on Friday, reaching $18.50. 260,293 shares of the company were exchanged. Hersha Hospitality Trust has a 52-week low of $16.80 and a 52-week high of $22.14. The company has a market capitalization of $773.93 million, a PE ratio of 8.11 and a beta of 1.38. The firm’s 50 day moving average is $18.72 and its 200-day moving average is $19.17.

Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by $0.02. The company had revenue of $138 million for the quarter, compared to analyst estimates of $134.55 million. Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. Hersha Hospitality Trust’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. On average, equities analysts forecast that Hersha Hospitality Trust will post $2.13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.12 annualized dividend and a yield of 6.05%. Hersha Hospitality Trust’s payout ratio is presently 48.70%.

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A number of equities analysts have commented on HT shares. Brean Capital restated a “buy” rating and set a $16.00 price objective on shares of Hersha Hospitality Trust in a research report on Monday, May 1st. ValuEngine downgraded shares of Hersha Hospitality Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $20.00 price target on shares of Hersha Hospitality Trust in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Hersha Hospitality Trust has a consensus rating of “Hold” and an average target price of $20.13.

In related news, COO Neil H. Shah acquired 1,400 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $25,200.00. Following the acquisition, the chief operating officer now owns 296,308 shares in the company, valued at $5,333,544. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.10% of the stock is currently owned by insiders.

About Hersha Hospitality Trust

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.

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

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