American International Group Inc. increased its position in Hersha Hospitality Trust (NYSE:HT) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,483 shares of the real estate investment trust’s stock after buying an additional 1,668 shares during the period. American International Group Inc. owned approximately 0.06% of Hersha Hospitality Trust worth $479,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in HT. Mason Street Advisors LLC purchased a new position in shares of Hersha Hospitality Trust during the first quarter valued at $184,000. Louisiana State Employees Retirement System purchased a new position in shares of Hersha Hospitality Trust during the first quarter valued at $319,000. Credit Agricole S A boosted its position in shares of Hersha Hospitality Trust by 12.7% in the fourth quarter. Credit Agricole S A now owns 19,284 shares of the real estate investment trust’s stock valued at $415,000 after buying an additional 2,175 shares in the last quarter. Arizona State Retirement System purchased a new position in shares of Hersha Hospitality Trust during the first quarter valued at $408,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Hersha Hospitality Trust by 56.2% in the first quarter. BNP Paribas Arbitrage SA now owns 22,574 shares of the real estate investment trust’s stock valued at $457,000 after buying an additional 8,118 shares in the last quarter. 96.55% of the stock is owned by institutional investors.
Hersha Hospitality Trust (NYSE HT) traded down 0.38% during mid-day trading on Tuesday, reaching $18.52. The company’s stock had a trading volume of 485,078 shares. The stock has a market cap of $774.77 million, a PE ratio of 8.12 and a beta of 1.38. The company has a 50 day moving average of $18.64 and a 200-day moving average of $19.15. Hersha Hospitality Trust has a 52-week low of $16.80 and a 52-week high of $22.14.
Hersha Hospitality Trust (NYSE:HT) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by $0.02. Hersha Hospitality Trust had a return on equity of 14.78% and a net margin of 22.77%. The company had revenue of $138 million for the quarter, compared to analyst estimates of $134.55 million. During the same period in the prior year, the company earned $0.89 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Hersha Hospitality Trust will post $2.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend was Wednesday, June 28th. Hersha Hospitality Trust’s payout ratio is presently 48.70%.
Several brokerages have recently commented on HT. Zacks Investment Research downgraded Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. ValuEngine downgraded Hersha Hospitality Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Stifel Nicolaus reduced their target price on Hersha Hospitality Trust from $20.50 to $20.00 and set a “hold” rating for the company in a report on Wednesday, April 26th. Brean Capital reissued a “buy” rating and issued a $16.00 price objective on shares of Hersha Hospitality Trust in a research note on Monday, May 1st. Finally, JMP Securities downgraded Hersha Hospitality Trust from an “outperform” rating to a “market perform” rating and set a $23.00 price objective for the company. in a research note on Monday, May 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $20.13.
In other Hersha Hospitality Trust news, COO Neil H. Shah bought 1,400 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $25,200.00. Following the completion of the purchase, the chief operating officer now directly owns 296,308 shares of the company’s stock, valued at $5,333,544. The acquisition was disclosed in a filing with the SEC, which is available at this link. 8.10% of the stock is owned by corporate 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.
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