Hersha Hospitality Trust (NYSE:HT) Price Target Cut to $4.00

Hersha Hospitality Trust (NYSE:HT) had its price objective decreased by B. Riley from $14.00 to $4.00 in a report published on Monday, BenzingaRatingsTable reports. B. Riley currently has a neutral rating on the real estate investment trust’s stock. 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 analysts have also commented on HT. DA Davidson lowered shares of Hersha Hospitality Trust from a neutral rating to an underperform rating and lowered their target price for the stock from $8.00 to $7.00 in a report on Tuesday, March 10th. Deutsche Bank lowered 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 report on Tuesday, February 25th. ValuEngine lowered shares of Hersha Hospitality Trust from a sell rating to a strong sell rating in a report on Tuesday, March 17th. Barclays reaffirmed a sell rating and set a $3.00 target price on shares of Hersha Hospitality Trust in a report on Wednesday, March 18th. Finally, Zacks Investment Research raised shares of Hersha Hospitality Trust from a sell rating to a hold rating in a report on Friday, February 21st. Five investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has a consensus rating of Sell and a consensus target price of $9.19.

Shares of Hersha Hospitality Trust stock traded up $0.24 during midday trading on Monday, reaching $4.45. The company had a trading volume of 1,317,847 shares, compared to its average volume of 849,658. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $145.21 million, a price-to-earnings ratio of -5.93, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33. The stock has a fifty day simple moving average of $9.91 and a 200 day simple moving average of $13.10. Hersha Hospitality Trust has a 1-year low of $2.29 and a 1-year high of $19.58.

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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 25.17%. The ex-dividend date of this dividend is Monday, March 30th. Hersha Hospitality Trust’s dividend payout ratio is presently 57.73%.

In other news, COO Neil H. Shah purchased 13,000 shares of Hersha Hospitality Trust stock in a transaction dated Wednesday, March 11th. The shares were bought at an average cost of $7.56 per share, with a total value of $98,280.00. Following the completion of the transaction, the chief operating officer now directly owns 471,132 shares in the company, valued at approximately $3,561,757.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jay H. Shah purchased 7,300 shares of Hersha Hospitality Trust stock in a transaction dated Tuesday, January 7th. The shares were purchased at an average cost of $13.51 per share, for a total transaction of $98,623.00. Following the completion of the transaction, the chief executive officer now owns 316,349 shares of the company’s stock, valued at $4,273,874.99. The disclosure for this purchase can be found here. Insiders have acquired a total of 112,356 shares of company stock valued at $1,182,993 in the last ninety days. Company insiders own 11.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. lifted 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 acquiring an additional 247,542 shares in the last quarter. California Public Employees Retirement System lifted its position in Hersha Hospitality Trust by 10.6% in the 3rd quarter. California Public Employees Retirement System now owns 102,122 shares of the real estate investment trust’s stock valued at $1,520,000 after acquiring an additional 9,767 shares in the last quarter. Voya Investment Management LLC lifted its position in Hersha Hospitality Trust by 26.0% in the 3rd quarter. Voya Investment Management LLC now owns 38,055 shares of the real estate investment trust’s stock valued at $566,000 after acquiring an additional 7,863 shares in the last quarter. Millennium Management LLC lifted 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 acquiring an additional 248,263 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Hersha Hospitality Trust by 19.9% in the 4th quarter. State of Alaska Department of Revenue now owns 36,833 shares of the real estate investment trust’s stock valued at $535,000 after acquiring an additional 6,119 shares in the last quarter. 76.07% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

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