Zacks: Brokerages Expect Hersha Hospitality Trust (NYSE:HT) Will Post Quarterly Sales of $132.41 Million

Brokerages expect that Hersha Hospitality Trust (NYSE:HT) will post sales of $132.41 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Hersha Hospitality Trust’s earnings, with estimates ranging from $119.31 million to $139.10 million. Hersha Hospitality Trust posted sales of $120.61 million during the same quarter last year, which suggests a positive year over year growth rate of 9.8%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 24th.

According to Zacks, analysts expect that Hersha Hospitality Trust will report full year sales of $132.41 million for the current financial year, with estimates ranging from $477.33 million to $511.13 million. For the next fiscal year, analysts anticipate that the firm will report sales of $504.69 million per share, with estimates ranging from $474.88 million to $523.64 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Hersha Hospitality Trust.

Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by $0.02. The company had revenue of $138 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share.

HT has been the subject of several research analyst reports. Stifel Nicolaus decreased their price objective on Hersha Hospitality Trust from $20.50 to $20.00 and set a “hold” rating for the company in a research report on Wednesday, April 26th. ValuEngine cut Hersha Hospitality Trust from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Brean Capital restated a “buy” rating and issued a $16.00 target price on shares of Hersha Hospitality Trust in a research note on Monday, May 1st. Zacks Investment Research upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. Finally, JMP Securities cut Hersha Hospitality Trust from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a research note on Monday, May 1st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Hersha Hospitality Trust currently has an average rating of “Hold” and a consensus price target of $20.13.

Hersha Hospitality Trust (HT) traded down 0.38% during mid-day trading on Friday, hitting $18.52. 485,078 shares of the stock were exchanged. The firm has a 50-day moving average price of $18.64 and a 200-day moving average price of $19.15. Hersha Hospitality Trust has a 12-month low of $16.80 and a 12-month high of $22.14. The stock has a market capitalization of $774.77 million, a P/E ratio of 8.12 and a beta of 1.38.

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

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In other news, COO Neil H. Shah bought 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 purchase, the chief operating officer now owns 296,308 shares of the company’s stock, valued at approximately $5,333,544. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.10% of the company’s stock.

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Hersha Hospitality Trust by 8.7% in the first quarter. Vanguard Group Inc. now owns 7,032,015 shares of the real estate investment trust’s stock worth $132,132,000 after buying an additional 561,377 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Hersha Hospitality Trust by 10,630.7% in the first quarter. BlackRock Inc. now owns 5,955,224 shares of the real estate investment trust’s stock worth $111,899,000 after buying an additional 5,899,727 shares in the last quarter. Brookfield Asset Management Inc. boosted its stake in shares of Hersha Hospitality Trust by 30.6% in the first quarter. Brookfield Asset Management Inc. now owns 3,013,725 shares of the real estate investment trust’s stock worth $56,628,000 after buying an additional 705,256 shares in the last quarter. State Street Corp boosted its stake in shares of Hersha Hospitality Trust by 22.1% in the first quarter. State Street Corp now owns 1,657,738 shares of the real estate investment trust’s stock worth $31,153,000 after buying an additional 300,195 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Hersha Hospitality Trust by 76.0% in the first quarter. Bank of New York Mellon Corp now owns 723,546 shares of the real estate investment trust’s stock worth $13,595,000 after buying an additional 312,360 shares in the last quarter. Institutional investors own 96.55% of the company’s stock.

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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Earnings History and Estimates for Hersha Hospitality Trust (NYSE:HT)

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