Hersha Hospitality Trust (NYSE:HT) – Stock analysts at B. Riley lowered their Q1 2021 EPS estimates for shares of Hersha Hospitality Trust in a report issued on Monday, March 23rd. B. Riley analyst B. Maher now forecasts that the real estate investment trust will post earnings per share of $0.05 for the quarter, down from their prior estimate of $0.12. B. Riley currently has a “Neutral” rating and a $4.00 target price on the stock.
HT has been the subject of a number of other research reports. ValuEngine raised shares of Hersha Hospitality Trust from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Deutsche Bank cut their price objective on shares of Hersha Hospitality Trust from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday, February 25th. Barclays reaffirmed a “sell” rating and set a $3.00 price objective on shares of Hersha Hospitality Trust in a research report on Wednesday, March 18th. Zacks Investment Research raised shares of Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Stifel Nicolaus cut their price objective on shares of Hersha Hospitality Trust from $14.00 to $4.50 and set a “hold” rating for the company in a research report on Tuesday, March 17th. Five research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of “Sell” and a consensus target price of $9.19.
Hersha Hospitality Trust (NYSE:HT) last released its earnings results on Monday, February 24th. The real estate investment trust reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.70). The firm had revenue of $132.67 million for the quarter, compared to analyst estimates of $131.79 million. Hersha Hospitality Trust had a negative return on equity of 0.45% and a negative net margin of 0.76%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Hersha Hospitality Trust during the fourth quarter worth about $4,512,000. Millennium Management LLC grew its stake in Hersha Hospitality Trust by 890.5% during the third quarter. Millennium Management LLC now owns 276,141 shares of the real estate investment trust’s stock worth $4,108,000 after buying an additional 248,263 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Hersha Hospitality Trust by 407.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 308,332 shares of the real estate investment trust’s stock worth $5,285,000 after buying an additional 247,542 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Hersha Hospitality Trust during the fourth quarter worth about $2,310,000. Finally, California Public Employees Retirement System grew its stake in Hersha Hospitality Trust by 149.5% during the fourth quarter. California Public Employees Retirement System now owns 254,827 shares of the real estate investment trust’s stock worth $3,708,000 after buying an additional 152,705 shares during the last quarter. 76.07% of the stock is currently owned by institutional investors and hedge funds.
In other Hersha Hospitality Trust news, COO Neil H. Shah bought 13,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average price of $7.56 per share, with a total value of $98,280.00. Following the completion of the purchase, the chief operating officer now directly owns 471,132 shares in the company, valued at approximately $3,561,757.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Leven bought 8,600 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average cost of $11.90 per share, for a total transaction of $102,340.00. In the last three months, insiders purchased 112,356 shares of company stock worth $1,182,993. 11.80% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, March 30th. This represents a $1.12 dividend on an annualized basis and a yield of 25.17%. Hersha Hospitality Trust’s payout ratio is currently 57.73%.
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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