Hersha Hospitality Trust (NYSE:HT) is set to issue its quarterly earnings data after the market closes on Wednesday, February 21st. Analysts expect the company to announce earnings of ($0.13) per share for the quarter.
Shares of Hersha Hospitality Trust (HT) opened at $18.04 on Monday. Hersha Hospitality Trust has a 52-week low of $17.10 and a 52-week high of $21.35. The firm has a market capitalization of $750.64, a price-to-earnings ratio of 8.39, a PEG ratio of 2.09 and a beta of 1.36. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 0.67.
Hersha Hospitality Trust announced that its board has authorized a stock repurchase program on Wednesday, January 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
HT has been the subject of several research analyst reports. Zacks Investment Research upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Wells Fargo & Co decreased their target price on Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Friday, October 27th. FBR & Co reiterated a “buy” rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a research report on Friday, October 27th. B. Riley reiterated a “buy” rating on shares of Hersha Hospitality Trust in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded Hersha Hospitality Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.11.
In related news, Chairman Hasu P. Shah sold 14,500 shares of Hersha Hospitality Trust stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $17.48, for a total value of $253,460.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.10% of the company’s stock.
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Hersha Hospitality Trust Company Profile
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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