Hersha Hospitality Trust (NYSE:HT) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Hersha Hospitality Trust (NYSE:HT) in a research note published on Saturday. The firm issued a sell rating on the real estate investment trust’s stock.

A number of other research analysts have also issued reports on HT. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Hersha Hospitality Trust from $8.00 to $10.00 and gave the stock a hold rating in a research note on Monday, August 28th. Barclays upgraded shares of Hersha Hospitality Trust from an underweight rating to an equal weight rating and boosted their price target for the stock from $8.00 to $10.00 in a research note on Tuesday, August 29th. BMO Capital Markets boosted their price target on shares of Hersha Hospitality Trust from $7.00 to $10.00 and gave the stock a market perform rating in a research note on Monday, August 28th. Robert W. Baird boosted their price target on shares of Hersha Hospitality Trust from $7.00 to $10.00 and gave the stock a neutral rating in a research note on Tuesday, August 29th. Finally, B. Riley downgraded shares of Hersha Hospitality Trust from a buy rating to a neutral rating and boosted their price objective for the stock from $9.00 to $10.00 in a report on Friday, September 1st. One analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $9.63.

Hersha Hospitality Trust Trading Up 0.3 %

NYSE HT opened at $9.95 on Friday. Hersha Hospitality Trust has a one year low of $5.64 and a one year high of $10.31. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.68 and a current ratio of 1.68. The firm’s fifty day moving average is $9.89 and its two-hundred day moving average is $7.76. The firm has a market cap of $400.78 million, a PE ratio of 58.50 and a beta of 1.81.

Hersha Hospitality Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, September 28th. Hersha Hospitality Trust’s dividend payout ratio (DPR) is presently 117.65%.

Institutional Trading of Hersha Hospitality Trust

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Hersha Hospitality Trust by 3.3% in the third quarter. BlackRock Inc. now owns 5,708,933 shares of the real estate investment trust’s stock valued at $45,556,000 after buying an additional 183,089 shares during the last quarter. Vanguard Group Inc. increased its position in Hersha Hospitality Trust by 4.5% during the third quarter. Vanguard Group Inc. now owns 2,823,991 shares of the real estate investment trust’s stock worth $22,536,000 after purchasing an additional 122,345 shares during the last quarter. Beryl Capital Management LLC acquired a new position in Hersha Hospitality Trust during the third quarter worth approximately $24,077,000. State Street Corp increased its position in Hersha Hospitality Trust by 1.1% during the third quarter. State Street Corp now owns 1,698,461 shares of the real estate investment trust’s stock worth $13,639,000 after purchasing an additional 17,776 shares during the last quarter. Finally, Millennium Management LLC increased its position in Hersha Hospitality Trust by 1,635.3% during the fourth quarter. Millennium Management LLC now owns 1,310,139 shares of the real estate investment trust’s stock worth $11,162,000 after purchasing an additional 1,234,641 shares during the last quarter. Hedge funds and other institutional investors own 56.96% of the company’s stock.

About Hersha Hospitality Trust

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates luxury and lifestyle hotels in coastal gateway and resort markets. The Company's 25 hotels totaling 3,811 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida, and California.