Cubist Systematic Strategies LLC Decreases Stock Holdings in Hersha Hospitality Trust (NYSE:HT)

Cubist Systematic Strategies LLC reduced its position in shares of Hersha Hospitality Trust (NYSE:HT – Get Rating) by 30.9% in the third quarter, HoldingsChannel.com reports. The firm owned 80,758 shares of the real estate investment trust’s stock after selling 36,145 shares during the period. Cubist Systematic Strategies LLC’s holdings in Hersha Hospitality Trust were worth $644,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Hersha Hospitality Trust in the 2nd quarter worth $30,000. Allspring Global Investments Holdings LLC raised its stake in Hersha Hospitality Trust by 710.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,034 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 3,536 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Hersha Hospitality Trust in the second quarter worth about $35,000. UBS Group AG boosted its position in Hersha Hospitality Trust by 206.2% during the 3rd quarter. UBS Group AG now owns 5,621 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 3,785 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Hersha Hospitality Trust during the 2nd quarter worth approximately $60,000. 65.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HT shares. B. Riley Financial restated a “neutral” rating on shares of Hersha Hospitality Trust in a research report on Saturday, February 25th. B. Riley restated a “neutral” rating on shares of Hersha Hospitality Trust in a report on Friday, February 24th. Finally, Barclays decreased their price target on shares of Hersha Hospitality Trust from $10.00 to $9.00 and set an “underweight” rating for the company in a research note on Tuesday, January 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Hersha Hospitality Trust presently has a consensus rating of “Hold” and an average target price of $11.64.

Insiders Place Their Bets

In other Hersha Hospitality Trust news, Director Thomas J. Hutchison III purchased 5,000 shares of the stock in a transaction dated Thursday, February 23rd. The shares were purchased at an average cost of $8.56 per share, with a total value of $42,800.00. Following the completion of the acquisition, the director now directly owns 151,319 shares in the company, valued at approximately $1,295,290.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 20.80% of the company’s stock.

Hersha Hospitality Trust Trading Down 2.2 %

NYSE:HT opened at $7.23 on Friday. The stock has a market cap of $287.32 million, a price-to-earnings ratio of 2.48 and a beta of 2.02. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average price is $8.66 and its 200-day moving average price is $8.98. Hersha Hospitality Trust has a 52 week low of $7.13 and a 52 week high of $12.15.

Hersha Hospitality Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $0.20 annualized dividend and a yield of 2.77%. Hersha Hospitality Trust’s dividend payout ratio is 6.87%.

Hersha Hospitality Trust Company Profile

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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.