Hersha Hospitality Trust (NYSE:HT) Downgraded to Sell at Zacks Investment Research

Hersha Hospitality Trust (NYSE:HT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

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) “

Several other equities research analysts have also issued reports on the company. Deutsche Bank reaffirmed a “hold” rating and issued a $14.00 price objective on shares of Hersha Hospitality Trust in a research note on Tuesday, November 12th. ValuEngine upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co cut their target price on Hersha Hospitality Trust from $13.50 to $12.50 and set an “underperform” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets restated a “sell” rating and set a $12.50 price target on shares of Hersha Hospitality Trust in a report on Wednesday, November 6th. Finally, Barclays restated a “sell” rating and issued a $14.00 price target on shares of Hersha Hospitality Trust in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $14.67.

Shares of NYSE HT opened at $13.85 on Wednesday. The firm’s 50-day moving average price is $14.05 and its 200-day moving average price is $15.31. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $547.50 million, a price-to-earnings ratio of 6.30, a P/E/G ratio of 2.04 and a beta of 1.30. Hersha Hospitality Trust has a 12-month low of $13.00 and a 12-month high of $20.38.

Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings results on Tuesday, November 5th. The real estate investment trust reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.67). Hersha Hospitality Trust had a return on equity of 0.21% and a net margin of 0.36%. The company had revenue of $135.00 million during the quarter, compared to analysts’ expectations of $135.62 million. On average, equities analysts predict that Hersha Hospitality Trust will post 1.73 EPS for the current fiscal year.

In other news, major shareholder Jay H. Shah acquired 73,578 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was acquired at an average price of $40.46 per share, with a total value of $2,976,965.88. Also, CEO Jay H. Shah acquired 3,703 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was purchased at an average cost of $13.10 per share, with a total value of $48,509.30. Following the purchase, the chief executive officer now owns 305,474 shares of the company’s stock, valued at $4,001,709.40. The disclosure for this purchase can be found here. Insiders have purchased a total of 93,887 shares of company stock worth $3,238,239 over the last quarter. 11.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of HT. BlackRock Inc. increased its stake in Hersha Hospitality Trust by 0.4% in the 2nd quarter. BlackRock Inc. now owns 7,396,030 shares of the real estate investment trust’s stock worth $122,331,000 after buying an additional 32,454 shares during the period. Invesco Ltd. increased its position in shares of Hersha Hospitality Trust by 10.1% during the second quarter. Invesco Ltd. now owns 1,570,946 shares of the real estate investment trust’s stock worth $25,983,000 after acquiring an additional 143,725 shares during the period. Dalton Greiner Hartman Maher & Co. increased its position in shares of Hersha Hospitality Trust by 18.1% during the third quarter. Dalton Greiner Hartman Maher & Co. now owns 1,427,068 shares of the real estate investment trust’s stock worth $21,235,000 after acquiring an additional 219,159 shares during the period. Northern Trust Corp raised its stake in shares of Hersha Hospitality Trust by 1.8% during the second quarter. Northern Trust Corp now owns 797,559 shares of the real estate investment trust’s stock valued at $13,193,000 after acquiring an additional 14,285 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Hersha Hospitality Trust by 16.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 755,686 shares of the real estate investment trust’s stock valued at $12,500,000 after acquiring an additional 105,163 shares in the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

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, luxury and lifestyle hotels in urban gateway markets and coastal destinations. The Company's 48 hotels totaling 7,644 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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