Hersha Hospitality Trust (NYSE:HT) declared a quarterly dividend on Thursday, September 19th, Fidelity reports. Shareholders of record on Monday, September 30th will be given a dividend of 0.28 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.12 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date of this dividend is Friday, September 27th.
Hersha Hospitality Trust has raised its dividend payment by an average of 7.2% per year over the last three years. Hersha Hospitality Trust has a payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hersha Hospitality Trust to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 56.0%.
NYSE HT traded up $0.21 during trading hours on Wednesday, reaching $15.17. The company had a trading volume of 4,169 shares, compared to its average volume of 395,307. The stock has a 50-day moving average of $14.53 and a 200 day moving average of $16.67. Hersha Hospitality Trust has a 1-year low of $13.38 and a 1-year high of $23.29. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $591.49 million, a P/E ratio of 6.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.34.
A number of research analysts have commented on the stock. Deutsche Bank set a $16.00 target price on shares of Hersha Hospitality Trust and gave the company a “hold” rating in a research report on Wednesday, July 31st. DA Davidson cut shares of Hersha Hospitality Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. Stifel Nicolaus set a $18.00 target price on shares of Hersha Hospitality Trust and gave the company a “hold” rating in a research report on Wednesday, July 31st. ValuEngine cut shares of Hersha Hospitality Trust from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Hersha Hospitality Trust currently has an average rating of “Hold” and an average target price of $18.29.
In other news, CEO Jay H. Shah bought 5,100 shares of Hersha Hospitality Trust stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average price of $14.75 per share, with a total value of $75,225.00. Following the completion of the acquisition, the chief executive officer now directly owns 294,520 shares in the company, valued at $4,344,170. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Hasu P. Shah bought 3,584 shares of Hersha Hospitality Trust stock in a transaction that occurred on Wednesday, August 28th. The stock was purchased at an average cost of $13.92 per share, for a total transaction of $49,889.28. The disclosure for this purchase can be found here. Insiders have bought 33,974 shares of company stock worth $474,546 in the last three months. Corporate insiders own 11.80% 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 high quality upscale, luxury and lifestyle hotels in urban gateway markets and coastal destinations. The Company's 48 hotels totaling 7,644 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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