Koch Industries Inc. acquired a new stake in shares of Hersha Hospitality Trust (NYSE:HT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 10,322 shares of the real estate investment trust’s stock, valued at approximately $185,000.
A number of other institutional investors also recently modified their holdings of the business. Matarin Capital Management LLC purchased a new stake in shares of Hersha Hospitality Trust in the 1st quarter worth about $12,662,000. BlackRock Inc. grew its position in shares of Hersha Hospitality Trust by 9.2% in the 4th quarter. BlackRock Inc. now owns 6,637,774 shares of the real estate investment trust’s stock worth $115,498,000 after buying an additional 558,297 shares during the period. LSV Asset Management grew its position in shares of Hersha Hospitality Trust by 29.2% in the 1st quarter. LSV Asset Management now owns 845,688 shares of the real estate investment trust’s stock worth $15,137,000 after buying an additional 191,100 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Hersha Hospitality Trust in the 4th quarter worth about $2,766,000. Finally, Deutsche Bank AG grew its position in shares of Hersha Hospitality Trust by 68.9% in the 4th quarter. Deutsche Bank AG now owns 326,827 shares of the real estate investment trust’s stock worth $5,686,000 after buying an additional 133,294 shares during the period. 95.11% of the stock is currently owned by institutional investors and hedge funds.
Hersha Hospitality Trust opened at $21.16 on Thursday, MarketBeat.com reports. Hersha Hospitality Trust has a fifty-two week low of $16.60 and a fifty-two week high of $21.55. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $820.04 million, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 2.07 and a beta of 1.32.
Hersha Hospitality Trust (NYSE:HT) last posted its earnings results on Tuesday, April 24th. The real estate investment trust reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.84). Hersha Hospitality Trust had a net margin of 11.06% and a return on equity of 5.74%. The business had revenue of $99.64 million during the quarter, compared to analysts’ expectations of $102.92 million. analysts predict that Hersha Hospitality Trust will post 1.84 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date is Thursday, June 28th. Hersha Hospitality Trust’s dividend payout ratio (DPR) is presently 51.85%.
HT has been the topic of several recent analyst reports. B. Riley set a $20.00 price objective on shares of Hersha Hospitality Trust and gave the company a “buy” rating in a research report on Wednesday, February 21st. Stifel Nicolaus reissued a “hold” rating and set a $18.00 price objective (down from $18.50) on shares of Hersha Hospitality Trust in a research report on Thursday, February 22nd. Robert W. Baird set a $18.00 target price on shares of Hersha Hospitality Trust and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Zacks Investment Research cut shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research note on Friday, March 2nd. Finally, Raymond James cut shares of Hersha Hospitality Trust to a “hold” rating in a research note on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $19.44.
About Hersha Hospitality Trust
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets and coastal destinations. The Company's 49 hotels totaling 7,653 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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