Real Estate Management Services LLC increased its position in shares of Hersha Hospitality Trust (NYSE:HT) by 13.2% during the 3rd quarter, Holdings Channel reports. The firm owned 596,200 shares of the real estate investment trust’s stock after acquiring an additional 69,700 shares during the period. Hersha Hospitality Trust comprises 5.7% of Real Estate Management Services LLC’s investment portfolio, making the stock its 4th biggest position. Real Estate Management Services LLC’s holdings in Hersha Hospitality Trust were worth $8,871,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Quantamental Technologies LLC bought a new stake in shares of Hersha Hospitality Trust during the 2nd quarter valued at $61,000. Bank of Montreal Can grew its stake in Hersha Hospitality Trust by 121.9% during the second quarter. Bank of Montreal Can now owns 5,126 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 2,816 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Hersha Hospitality Trust by 187.2% during the third quarter. Nisa Investment Advisors LLC now owns 9,595 shares of the real estate investment trust’s stock valued at $143,000 after acquiring an additional 6,254 shares in the last quarter. Pathstone Family Office LLC purchased a new position in Hersha Hospitality Trust during the second quarter valued at $174,000. Finally, Ellington Management Group LLC purchased a new position in Hersha Hospitality Trust during the second quarter valued at $184,000. Hedge funds and other institutional investors own 94.57% of the company’s stock.
Several equities analysts recently weighed in on HT shares. Deutsche Bank reaffirmed a “hold” rating and set a $15.00 target price on shares of Hersha Hospitality Trust in a research note on Thursday. ValuEngine raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus set a $18.00 target price on shares of Hersha Hospitality Trust and gave the company a “hold” rating in a research note on Wednesday, July 31st. Zacks Investment Research cut shares of Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Co cut their target price on shares of Hersha Hospitality Trust from $13.50 to $12.50 and set an “underperform” rating for the company in a research note on Friday, October 18th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $16.29.
Hersha Hospitality Trust (NYSE:HT) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.75). Hersha Hospitality Trust had a return on equity of 0.44% and a net margin of 0.78%. The business had revenue of $147.50 million during the quarter, compared to analysts’ expectations of $146.81 million. On average, equities research analysts forecast that Hersha Hospitality Trust will post 1.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.28 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.91%. Hersha Hospitality Trust’s payout ratio is currently 50.91%.
In other news, CEO Jay H. Shah bought 3,703 shares of the stock in a transaction dated Friday, October 18th. The stock was purchased at an average price of $13.10 per share, for a total transaction of $48,509.30. Following the acquisition, the chief executive officer now owns 305,474 shares of the company’s stock, valued at $4,001,709.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jay H. Shah bought 5,100 shares of the stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average price of $14.75 per share, with a total value of $75,225.00. Following the acquisition, the chief executive officer now directly owns 294,520 shares in the company, valued at approximately $4,344,170. The disclosure for this purchase can be found here. Insiders acquired a total of 43,509 shares of company stock valued at $588,342 over 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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