Hersha Hospitality Trust (NYSE:HT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, Zacks.com reports.
According to Zacks, “Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focussed on the hospitality industry. Hersha currently owns, operates, and develops a portfolio of hotels and assisted living facilities in the mid-Atlantic region of the United States. (PRESS RELEASE) “
Other equities analysts also recently issued research reports about the stock. BMO Capital Markets upgraded shares of Hersha Hospitality Trust from an “underperform” rating to a “market perform” rating and set a $10.00 price objective on the stock in a report on Friday, January 7th. Wells Fargo & Company upgraded shares of Hersha Hospitality Trust from an “equal weight” rating to an “overweight” rating in a report on Monday, October 18th. Finally, Raymond James upgraded shares of Hersha Hospitality Trust from an “underperform” rating to a “market perform” rating in a report on Monday, January 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.14.
HT stock opened at $9.29 on Thursday. The firm has a market cap of $365.27 million, a price-to-earnings ratio of -3.99 and a beta of 2.62. The firm has a 50-day simple moving average of $9.50 and a two-hundred day simple moving average of $9.48. Hersha Hospitality Trust has a one year low of $7.51 and a one year high of $13.05. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.32 and a current ratio of 0.32.
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Hersha Hospitality Trust (NYSE:HT) last released its quarterly earnings results on Tuesday, October 26th. The real estate investment trust reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.55). Hersha Hospitality Trust had a negative net margin of 30.74% and a negative return on equity of 10.42%. During the same quarter in the previous year, the business earned ($0.46) EPS. As a group, equities analysts predict that Hersha Hospitality Trust will post -0.43 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Real Estate Management Services LLC grew its stake in shares of Hersha Hospitality Trust by 11.6% during the 3rd quarter. Real Estate Management Services LLC now owns 393,400 shares of the real estate investment trust’s stock worth $3,670,000 after purchasing an additional 40,800 shares during the period. Campbell Capital Management Inc. lifted its position in shares of Hersha Hospitality Trust by 38.0% during the 3rd quarter. Campbell Capital Management Inc. now owns 269,973 shares of the real estate investment trust’s stock valued at $2,519,000 after buying an additional 74,273 shares in the last quarter. Invesco Ltd. lifted its position in shares of Hersha Hospitality Trust by 2.0% during the 2nd quarter. Invesco Ltd. now owns 164,380 shares of the real estate investment trust’s stock valued at $1,768,000 after buying an additional 3,241 shares in the last quarter. Kylin Management LLC purchased a new position in shares of Hersha Hospitality Trust during the 2nd quarter valued at approximately $18,830,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Hersha Hospitality Trust by 5.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 40,994 shares of the real estate investment trust’s stock valued at $381,000 after buying an additional 2,046 shares in the last quarter. 63.81% of the stock is currently owned by institutional investors and hedge funds.
Hersha Hospitality Trust Company Profile
Hersha Hospitality Trust is a self-advised real estate investment trust in the hospitality sector, which owns and operates hotels in urban gateway markets. Its hotel properties are located in in New York, Boston, Philadelphia, Washington, the District of Columbia, Miami, and select markets on the West Coast.
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