Hersha Hospitality Trust (NYSE:HT) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System reduced its stake in shares of Hersha Hospitality Trust (NYSE:HT – Get Rating) by 53.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,544 shares of the real estate investment trust’s stock after selling 15,580 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Hersha Hospitality Trust were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HT. Quantbot Technologies LP purchased a new stake in shares of Hersha Hospitality Trust in the second quarter valued at about $30,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Hersha Hospitality Trust by 710.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,034 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 3,536 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Hersha Hospitality Trust during the third quarter valued at approximately $36,000. UBS Group AG lifted its stake in shares of Hersha Hospitality Trust by 206.2% during the third quarter. UBS Group AG now owns 5,621 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 3,785 shares during the period. Finally, Captrust Financial Advisors purchased a new position in shares of Hersha Hospitality Trust during the second quarter valued at approximately $60,000. 65.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HT. Wells Fargo & Company reduced their price objective on shares of Hersha Hospitality Trust from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 30th. B. Riley raised shares of Hersha Hospitality Trust from a “neutral” rating to a “buy” rating and cut their price target for the stock from $10.00 to $9.00 in a research note on Thursday, May 4th. StockNews.com started coverage on shares of Hersha Hospitality Trust in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Finally, B. Riley Financial reaffirmed a “neutral” rating on shares of Hersha Hospitality Trust in a research note on Saturday, February 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.60.

Hersha Hospitality Trust Price Performance

Hersha Hospitality Trust stock opened at $5.95 on Wednesday. Hersha Hospitality Trust has a 52-week low of $5.76 and a 52-week high of $12.15. The firm has a fifty day moving average of $6.27 and a 200-day moving average of $7.99. The firm has a market capitalization of $237.29 million, a P/E ratio of 1.91 and a beta of 2.01. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.50.

Hersha Hospitality Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date is Thursday, June 29th. Hersha Hospitality Trust’s payout ratio is 6.43%.

Insider Activity at Hersha Hospitality Trust

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

Hersha Hospitality Trust 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 New York, Boston, Philadelphia, Washington, the District of Columbia, Miami, and select markets on the West Coast.