Hersha Hospitality Trust (NYSE:HT) Stock Price Up 7.7%

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Hersha Hospitality Trust (NYSE:HT) rose 7.7% during mid-day trading on Monday . The company traded as high as $5.98 and last traded at $5.85, approximately 672,406 shares changed hands during trading. A decline of 26% from the average daily volume of 909,657 shares. The stock had previously closed at $5.43.

HT has been the subject of a number of analyst reports. DA Davidson raised Hersha Hospitality Trust from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $5.00 to $8.00 in a report on Wednesday, June 17th. Zacks Investment Research cut Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Tuesday, June 16th. Stifel Nicolaus lifted their price target on Hersha Hospitality Trust from $4.50 to $6.50 and gave the company a “hold” rating in a report on Friday, June 5th. B. Riley cut their price target on Hersha Hospitality Trust from $5.50 to $4.50 and set a “neutral” rating for the company in a report on Monday, May 11th. Finally, ValuEngine raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Thursday, June 4th. Four equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Hersha Hospitality Trust currently has an average rating of “Hold” and a consensus price target of $8.63.

The stock has a market capitalization of $226.24 million, a P/E ratio of -4.92 and a beta of 2.27. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 1.41. The company has a fifty day simple moving average of $5.95 and a two-hundred day simple moving average of $8.91.

Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported ($0.76) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.72). The firm had revenue of $90.14 million for the quarter, compared to the consensus estimate of $97.74 million. Hersha Hospitality Trust had a negative return on equity of 2.31% and a negative net margin of 3.98%. As a group, analysts forecast that Hersha Hospitality Trust will post -0.9 earnings per share for the current fiscal year.

In other news, CEO Jay H. Shah acquired 5,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost of $5.96 per share, with a total value of $29,800.00. Following the acquisition, the chief executive officer now owns 464,115 shares of the company’s stock, valued at approximately $2,766,125.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jay H. Shah bought 10,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were bought at an average price of $4.38 per share, with a total value of $43,800.00. Following the completion of the transaction, the chief executive officer now directly owns 1,900 shares in the company, valued at approximately $8,322. The disclosure for this purchase can be found here. Insiders have acquired a total of 171,227 shares of company stock valued at $949,923 over the last three months. Company insiders own 12.90% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. grew its position in shares of 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. Rhumbline Advisers grew its position in shares of Hersha Hospitality Trust by 6.8% in the 4th quarter. Rhumbline Advisers now owns 129,537 shares of the real estate investment trust’s stock valued at $1,885,000 after purchasing an additional 8,210 shares during the period. Swiss National Bank grew its position in shares of Hersha Hospitality Trust by 3.0% in the 4th quarter. Swiss National Bank now owns 71,375 shares of the real estate investment trust’s stock valued at $1,039,000 after purchasing an additional 2,100 shares during the period. Sei Investments Co. acquired a new position in shares of Hersha Hospitality Trust in the 4th quarter valued at approximately $324,000. Finally, Victory Capital Management Inc. grew its position in shares of Hersha Hospitality Trust by 40.6% in the 4th quarter. Victory Capital Management Inc. now owns 9,931 shares of the real estate investment trust’s stock valued at $144,000 after purchasing an additional 2,870 shares during the period. Institutional investors own 82.03% of the company’s stock.

About Hersha Hospitality Trust (NYSE:HT)

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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