B. Riley Lowers Hersha Hospitality Trust (NYSE:HT) Price Target to $4.00

Hersha Hospitality Trust (NYSE:HT) had its target price dropped by investment analysts at B. Riley from $14.00 to $4.00 in a research report issued to clients and investors on Monday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. B. Riley’s price target would indicate a potential downside of 10.11% from the stock’s previous close. B. Riley also issued estimates for Hersha Hospitality Trust’s Q1 2020 earnings at $0.20 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.37 EPS, Q4 2020 earnings at $0.53 EPS, FY2020 earnings at $1.31 EPS, Q1 2021 earnings at $0.05 EPS, Q2 2021 earnings at $0.48 EPS, Q3 2021 earnings at $0.37 EPS, Q4 2021 earnings at $0.38 EPS, FY2021 earnings at $1.29 EPS and FY2022 earnings at $1.40 EPS.

A number of other research firms also recently weighed in on HT. Stifel Nicolaus decreased their target price on shares of Hersha Hospitality Trust from $14.00 to $4.50 and set a “hold” rating for the company in a research report on Tuesday, March 17th. Deutsche Bank decreased their target price on shares of Hersha Hospitality Trust from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. DA Davidson downgraded shares of Hersha Hospitality Trust from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $8.00 to $7.00 in a research report on Tuesday, March 10th. ValuEngine downgraded shares of Hersha Hospitality Trust from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Finally, Zacks Investment Research raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Five equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has a consensus rating of “Sell” and an average price target of $9.19.

NYSE HT traded up $0.24 during trading hours on Monday, reaching $4.45. The company’s stock had a trading volume of 1,317,847 shares, compared to its average volume of 849,658. The firm has a fifty day simple moving average of $9.91 and a 200-day simple moving average of $13.10. The stock has a market cap of $145.21 million, a P/E ratio of -5.93, a P/E/G ratio of 1.64 and a beta of 1.33. Hersha Hospitality Trust has a 52 week low of $2.29 and a 52 week high of $19.58. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.43 and a quick ratio of 0.43.

Hersha Hospitality Trust (NYSE:HT) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.70). The business had revenue of $132.67 million during the quarter, compared to the consensus estimate of $131.79 million. Hersha Hospitality Trust had a negative net margin of 0.76% and a negative return on equity of 0.45%. On average, research analysts expect that Hersha Hospitality Trust will post 1.51 earnings per share for the current year.

In related news, COO Neil H. Shah acquired 3,846 shares of Hersha Hospitality Trust stock in a transaction dated Monday, January 27th. The stock was bought at an average price of $12.98 per share, with a total value of $49,921.08. Following the transaction, the chief operating officer now directly owns 365,532 shares in the company, valued at approximately $4,744,605.36. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jay H. Shah acquired 7,300 shares of Hersha Hospitality Trust stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $13.51 per share, with a total value of $98,623.00. Following the transaction, the chief executive officer now owns 316,349 shares in the company, valued at $4,273,874.99. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 112,356 shares of company stock valued at $1,182,993. Insiders own 11.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in HT. Norges Bank acquired a new stake in shares of Hersha Hospitality Trust during the 4th quarter worth approximately $4,512,000. Millennium Management LLC grew its position in Hersha Hospitality Trust by 890.5% in the 3rd quarter. Millennium Management LLC now owns 276,141 shares of the real estate investment trust’s stock valued at $4,108,000 after purchasing an additional 248,263 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in Hersha Hospitality Trust by 407.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 308,332 shares of the real estate investment trust’s stock valued at $5,285,000 after purchasing an additional 247,542 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Hersha Hospitality Trust in the 4th quarter valued at $2,310,000. Finally, California Public Employees Retirement System grew its position in Hersha Hospitality Trust by 149.5% in the 4th quarter. California Public Employees Retirement System now owns 254,827 shares of the real estate investment trust’s stock valued at $3,708,000 after purchasing an additional 152,705 shares during the period. 76.07% of the stock is owned by institutional investors.

Hersha Hospitality Trust Company Profile

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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Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

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