Hersha Hospitality Trust (HT) Expected to Announce Earnings of $0.70 Per Share

Wall Street analysts expect Hersha Hospitality Trust (NYSE:HT) to report earnings of $0.70 per share for the current quarter, Zacks reports. Seven analysts have issued estimates for Hersha Hospitality Trust’s earnings. The highest EPS estimate is $0.73 and the lowest is $0.66. Hersha Hospitality Trust posted earnings of $0.08 per share in the same quarter last year, which would suggest a positive year over year growth rate of 775%. The firm is expected to announce its next quarterly earnings report on Tuesday, October 24th.

On average, analysts expect that Hersha Hospitality Trust will report full-year earnings of $2.32 per share for the current year, with EPS estimates ranging from $2.25 to $2.36. For the next fiscal year, analysts forecast that the company will report earnings of $2.40 per share, with EPS estimates ranging from $2.22 to $2.54. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Hersha Hospitality Trust.

Hersha Hospitality Trust (NYSE:HT) last issued its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.02). The business had revenue of $138.00 million during the quarter, compared to analyst estimates of $134.55 million. Hersha Hospitality Trust had a net margin of 22.77% and a return on equity of 14.78%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share.

A number of equities analysts recently commented on HT shares. ValuEngine raised shares of Hersha Hospitality Trust from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 19th. Zacks Investment Research lowered shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BidaskClub lowered shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Hersha Hospitality Trust in a research note on Wednesday, July 19th. Finally, FBR & Co decreased their price objective on shares of Hersha Hospitality Trust from $23.00 to $21.00 and set an “outperform” rating for the company in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.75.

Shares of Hersha Hospitality Trust (NYSE HT) traded down 0.87% on Friday, reaching $18.18. The company’s stock had a trading volume of 343,523 shares. The stock has a 50-day moving average of $18.30 and a 200 day moving average of $18.67. Hersha Hospitality Trust has a 1-year low of $16.80 and a 1-year high of $22.14. The stock has a market capitalization of $760.54 million, a PE ratio of 7.97 and a beta of 1.38.

In related news, insider Neil H. Shah bought 1,500 shares of the business’s stock in a transaction on Friday, September 8th. The stock was bought at an average price of $17.91 per share, for a total transaction of $26,865.00. Following the transaction, the insider now directly owns 302,210 shares in the company, valued at $5,412,581.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Neil H. Shah bought 4,165 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was bought at an average price of $17.93 per share, with a total value of $74,678.45. Following the transaction, the insider now owns 297,418 shares in the company, valued at $5,332,704.74. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 10,079 shares of company stock valued at $180,706. Insiders own 8.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Hersha Hospitality Trust by 8.7% in the 1st quarter. Vanguard Group Inc. now owns 7,032,015 shares of the real estate investment trust’s stock worth $132,132,000 after buying an additional 561,377 shares in the last quarter. BlackRock Inc. lifted its position in Hersha Hospitality Trust by 0.3% in the 2nd quarter. BlackRock Inc. now owns 5,971,382 shares of the real estate investment trust’s stock worth $110,531,000 after buying an additional 16,158 shares in the last quarter. Brookfield Asset Management Inc. lifted its position in Hersha Hospitality Trust by 11.9% in the 2nd quarter. Brookfield Asset Management Inc. now owns 3,371,560 shares of the real estate investment trust’s stock worth $62,408,000 after buying an additional 357,835 shares in the last quarter. State Street Corp lifted its position in Hersha Hospitality Trust by 9.8% in the 2nd quarter. State Street Corp now owns 1,820,283 shares of the real estate investment trust’s stock worth $33,697,000 after buying an additional 162,545 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Hersha Hospitality Trust by 2.1% in the 2nd quarter. Northern Trust Corp now owns 828,119 shares of the real estate investment trust’s stock worth $15,328,000 after buying an additional 16,944 shares in the last quarter. Institutional investors own 98.54% of the company’s stock.

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About Hersha Hospitality Trust

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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Earnings History and Estimates for Hersha Hospitality Trust (NYSE:HT)

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