Hersha Hospitality Trust (NYSE:HT – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday, Zacks.com reports. The brokerage currently has a $12.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.21% from the stock’s current price.
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) “
HT has been the subject of a number of other research reports. Oppenheimer started coverage on shares of Hersha Hospitality Trust in a report on Thursday, April 21st. They issued an “outperform” rating and a $14.00 price objective for the company. Stifel Nicolaus raised shares of Hersha Hospitality Trust from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $14.50 in a report on Friday, May 6th. Wells Fargo & Company cut their price objective on shares of Hersha Hospitality Trust from $11.50 to $11.00 and set an “overweight” rating for the company in a report on Thursday, March 10th. B. Riley lifted their price objective on shares of Hersha Hospitality Trust from $10.00 to $11.00 in a report on Tuesday, February 22nd. Finally, StockNews.com raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Hersha Hospitality Trust currently has a consensus rating of “Hold” and a consensus price target of $11.56.
NYSE HT opened at $10.79 on Wednesday. The company has a market capitalization of $424.64 million, a PE ratio of -4.69 and a beta of 2.25. The company has a fifty day moving average of $9.43 and a 200 day moving average of $9.48. Hersha Hospitality Trust has a 1 year low of $7.92 and a 1 year high of $12.42. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.35 and a quick ratio of 0.35.
Hersha Hospitality Trust (NYSE:HT – Get Rating) last posted its earnings results on Wednesday, April 27th. The real estate investment trust reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.53). Hersha Hospitality Trust had a negative net margin of 21.97% and a negative return on equity of 10.87%. During the same quarter last year, the company earned ($0.36) EPS. Research analysts expect that Hersha Hospitality Trust will post 0.85 earnings per share for the current year.
In related news, Director Michael A. Leven bought 5,000 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was acquired at an average price of $20.20 per share, with a total value of $101,000.00. Following the completion of the purchase, the director now directly owns 45,000 shares of the company’s stock, valued at $909,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 20.80% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake in Hersha Hospitality Trust by 95.5% during the 3rd quarter. Goldman Sachs Group Inc. now owns 265,761 shares of the real estate investment trust’s stock valued at $2,479,000 after acquiring an additional 129,827 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Hersha Hospitality Trust by 16.5% in the 3rd quarter. Two Sigma Investments LP now owns 352,314 shares of the real estate investment trust’s stock valued at $3,287,000 after purchasing an additional 49,966 shares during the last quarter. Deutsche Bank AG boosted its holdings in Hersha Hospitality Trust by 12.0% in the 3rd quarter. Deutsche Bank AG now owns 126,133 shares of the real estate investment trust’s stock valued at $1,177,000 after purchasing an additional 13,484 shares during the last quarter. PEAK6 Investments LLC boosted its holdings in Hersha Hospitality Trust by 50.0% in the 3rd quarter. PEAK6 Investments LLC now owns 88,818 shares of the real estate investment trust’s stock valued at $829,000 after purchasing an additional 29,617 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in Hersha Hospitality Trust in the 3rd quarter valued at about $6,188,000. 60.28% of the stock is owned by institutional investors.
Hersha Hospitality Trust Company Profile (Get Rating)
Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale and lifestyle hotels in urban gateway markets and resort destinations. The Company’s 49 hotels totaling 7,774 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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