Brokerages Set Hersha Hospitality Trust (NYSE:HT) Target Price at $6.29

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Shares of Hersha Hospitality Trust (NYSE:HT) have been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.29.

A number of research analysts recently weighed in on HT shares. Zacks Investment Research cut shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, June 16th. DA Davidson upgraded shares of Hersha Hospitality Trust from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $5.00 to $8.00 in a research note on Wednesday, June 17th. Barclays lifted their price target on shares of Hersha Hospitality Trust from $3.00 to $6.00 and gave the company an “underweight” rating in a report on Monday, June 22nd. Wells Fargo & Co reduced their price target on shares of Hersha Hospitality Trust from $6.00 to $4.50 and set an “underweight” rating on the stock in a report on Wednesday, July 22nd. Finally, ValuEngine upgraded shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Thursday, June 4th.

In related news, COO Neil H. Shah acquired 20,000 shares of the stock in a transaction on Thursday, July 9th. The stock was bought at an average cost of $5.00 per share, with a total value of $100,000.00. Following the transaction, the chief operating officer now directly owns 553,511 shares in the company, valued at $2,767,555. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Neil H. Shah acquired 10,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $3.84 per share, with a total value of $38,400.00. Following the completion of the transaction, the chief operating officer now owns 493,511 shares in the company, valued at $1,895,082.24. The disclosure for this purchase can be found here. Insiders have purchased a total of 90,422 shares of company stock worth $477,175 over the last quarter. 12.90% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Comerica Bank boosted its position in Hersha Hospitality Trust by 7.9% in the 2nd quarter. Comerica Bank now owns 37,576 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 2,747 shares during the period. State of Tennessee Treasury Department lifted its position in shares of Hersha Hospitality Trust by 13.4% in the 1st quarter. State of Tennessee Treasury Department now owns 23,559 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 2,792 shares during the period. Victory Capital Management Inc. lifted 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 worth $144,000 after purchasing an additional 2,870 shares during the period. M&T Bank Corp lifted its position in shares of Hersha Hospitality Trust by 16.7% in the 1st quarter. M&T Bank Corp now owns 32,398 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 4,639 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in shares of Hersha Hospitality Trust by 13.4% in the 1st quarter. State of Alaska Department of Revenue now owns 41,753 shares of the real estate investment trust’s stock worth $149,000 after purchasing an additional 4,920 shares during the period. 82.50% of the stock is owned by institutional investors.

Shares of Hersha Hospitality Trust stock opened at $4.76 on Tuesday. The company’s fifty day simple moving average is $5.73 and its 200-day simple moving average is $7.52. The stock has a market capitalization of $189.89 million, a PE ratio of -4.07 and a beta of 2.30. Hersha Hospitality Trust has a 1-year low of $2.29 and a 1-year high of $16.79. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.24 and a quick ratio of 0.24.

Hersha Hospitality Trust (NYSE:HT) last issued its quarterly earnings results 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). Hersha Hospitality Trust had a negative return on equity of 2.31% and a negative net margin of 3.98%. The business had revenue of $90.14 million for the quarter, compared to analysts’ expectations of $97.74 million. As a group, research analysts anticipate that Hersha Hospitality Trust will post -1.07 EPS for the current year.

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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