Hersha Hospitality Trust (HT) Upgraded by Zacks Investment Research to Hold

Hersha Hospitality Trust (NYSE:HT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, November 10th.

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) “

A number of other research firms also recently commented on HT. Wells Fargo & Company dropped their price target on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a report on Wednesday, July 19th. FBR & Co reiterated a “buy” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a report on Friday, October 27th. Robert W. Baird reiterated a “buy” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a report on Friday, September 8th. Finally, BidaskClub raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.60.

Hersha Hospitality Trust (NYSE:HT) opened at $17.53 on Friday. Hersha Hospitality Trust has a fifty-two week low of $17.15 and a fifty-two week high of $22.14. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 1.10. The firm has a market cap of $730.67, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 2.14 and a beta of 1.35.

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In other Hersha Hospitality Trust news, COO Neil H. Shah purchased 1,667 shares of the stock in a transaction on Tuesday, August 29th. The shares were purchased at an average price of $17.86 per share, with a total value of $29,772.62. Following the acquisition, the chief operating officer now directly owns 297,418 shares of the company’s stock, valued at approximately $5,311,885.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Neil H. Shah purchased 4,165 shares of the stock in a transaction on Wednesday, August 30th. The stock was acquired at an average cost of $17.93 per share, for a total transaction of $74,678.45. Following the acquisition, the insider now directly owns 297,418 shares in the company, valued at $5,332,704.74. The disclosure for this purchase can be found here. Insiders acquired a total of 28,494 shares of company stock worth $502,496 in the last three months. Insiders own 8.10% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Pinebridge Investments L.P. grew its holdings in Hersha Hospitality Trust by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 54 shares during the last quarter. Texas Permanent School Fund grew its holdings in Hersha Hospitality Trust by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 30,498 shares of the real estate investment trust’s stock worth $565,000 after acquiring an additional 255 shares during the last quarter. M&T Bank Corp grew its holdings in Hersha Hospitality Trust by 1.1% during the 2nd quarter. M&T Bank Corp now owns 28,042 shares of the real estate investment trust’s stock worth $519,000 after acquiring an additional 298 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Hersha Hospitality Trust by 0.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 50,302 shares of the real estate investment trust’s stock worth $945,000 after acquiring an additional 403 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its holdings in Hersha Hospitality Trust by 0.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 276,497 shares of the real estate investment trust’s stock worth $5,118,000 after acquiring an additional 926 shares during the last quarter. 99.86% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

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