Hersha Hospitality Trust (NYSE:HT) Stock Price Up 5.3% After Insider Buying Activity

Hersha Hospitality Trust (NYSE:HT)’s stock price rose 5.3% during mid-day trading on Thursday following insider buying activity. The company traded as high as $14.64 and last traded at $14.57, approximately 1,037,233 shares were traded during mid-day trading. An increase of 180% from the average daily volume of 370,534 shares. The stock had previously closed at $13.84.

Specifically, major shareholder Jay H. Shah bought 73,578 shares of the stock in a transaction on Wednesday, October 9th. The stock was purchased at an average price of $40.46 per share, for a total transaction of $2,976,965.88. Also, Chairman Hasu P. Shah bought 3,500 shares of the stock in a transaction on Tuesday, November 12th. The shares were purchased at an average price of $14.09 per share, with a total value of $49,315.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 119,321 shares of company stock valued at $3,587,577. Corporate insiders own 11.80% of the company’s stock.

HT has been the subject of a number of research reports. Wells Fargo & Co lowered their target price on Hersha Hospitality Trust from $13.50 to $12.50 and set an “underperform” rating for the company in a report on Friday, October 18th. Stifel Nicolaus set a $18.00 price objective on Hersha Hospitality Trust and gave the company a “hold” rating in a report on Wednesday, July 31st. ValuEngine cut Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Zacks Investment Research cut Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, DA Davidson cut Hersha Hospitality Trust from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Hersha Hospitality Trust has an average rating of “Hold” and a consensus target price of $14.80.

The company has a market cap of $534.36 million, a P/E ratio of 6.62, a PEG ratio of 1.48 and a beta of 1.30. The company has a fifty day moving average price of $14.22 and a two-hundred day moving average price of $15.78. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.46 and a current ratio of 0.46.

Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings data on Tuesday, November 5th. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.67). The company had revenue of $135.00 million during the quarter, compared to the consensus estimate of $135.62 million. Hersha Hospitality Trust had a net margin of 0.36% and a return on equity of 0.21%. Research analysts anticipate that Hersha Hospitality Trust will post 1.73 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantamental Technologies LLC bought a new position in shares of Hersha Hospitality Trust in the 2nd quarter valued at about $61,000. Bank of Montreal Can grew its holdings in shares of Hersha Hospitality Trust by 121.9% in the 2nd 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 lifted its stake in Hersha Hospitality Trust by 187.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 9,595 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 6,254 shares during the last quarter. Pathstone Family Office LLC acquired a new stake in Hersha Hospitality Trust in the 2nd quarter valued at about $174,000. Finally, Ellington Management Group LLC acquired a new stake in Hersha Hospitality Trust in the 2nd quarter valued at about $184,000. Institutional investors own 93.55% of the company’s stock.

Hersha Hospitality Trust Company Profile (NYSE:HT)

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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