Hersha Hospitality Trust (NYSE:HT) declared a quarterly dividend on Friday, September 15th, NASDAQ reports. Investors of record on Friday, September 29th will be paid a dividend of 0.28 per share by the real estate investment trust on Friday, October 13th. This represents a $1.12 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend is Thursday, September 28th.
Hersha Hospitality Trust has raised its dividend by an average of 5.3% per year over the last three years and has increased its dividend every year for the last 3 years. Hersha Hospitality Trust has a payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hersha Hospitality Trust to earn $2.16 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 51.9%.
Shares of Hersha Hospitality Trust (HT) traded up 0.60% during trading on Friday, reaching $18.47. The company had a trading volume of 267,994 shares. The firm’s 50 day moving average price is $18.28 and its 200 day moving average price is $18.61. Hersha Hospitality Trust has a 12 month low of $16.80 and a 12 month high of $22.14. The firm has a market capitalization of $772.67 million, a P/E ratio of 8.10 and a beta of 1.38.
Hersha Hospitality Trust (NYSE:HT) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.02). The company had revenue of $138.00 million for the quarter, compared to analyst estimates of $134.55 million. Hersha Hospitality Trust had a net margin of 22.77% and a return on equity of 14.78%. Hersha Hospitality Trust’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. Equities analysts predict that Hersha Hospitality Trust will post $2.23 EPS for the current year.
In other news, COO Neil H. Shah bought 1,667 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $17.86 per share, with a total value of $29,772.62. Following the transaction, the chief operating officer now owns 297,418 shares of the company’s stock, valued at approximately $5,311,885.48. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Neil H. Shah bought 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $25,200.00. Following the completion of the transaction, the chief operating officer now directly owns 296,308 shares in the company, valued at approximately $5,333,544. The disclosure for this purchase can be found here. Insiders purchased a total of 10,079 shares of company stock worth $180,706 over the last ninety days. Corporate insiders own 8.10% of the company’s stock.
A number of equities research analysts have commented on HT shares. ValuEngine cut Hersha Hospitality Trust from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. FBR & Co set a $20.00 price objective on Hersha Hospitality Trust and gave the stock a “buy” rating in a report on Monday, August 28th. Robert W. Baird restated a “buy” rating and set a $20.00 price objective on shares of Hersha Hospitality Trust in a report on Friday, September 8th. Zacks Investment Research upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Friday, July 21st. Finally, Stifel Nicolaus restated a “hold” rating and set a $20.00 price objective on shares of Hersha Hospitality Trust in a report on Wednesday, July 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Hersha Hospitality Trust currently has a consensus rating of “Hold” and an average price target of $19.75.
Hersha Hospitality Trust Company Profile
Hersha Hospitality Trust is a self-advised real estate investment trust (REIT). The Company invests primarily in institutional grade hotels in urban gateway markets, including New York, Washington, District of Columbia, Boston, Philadelphia, South Florida and select markets on the West Coast. As of July 20, 2017, the Company’s hotels included 51 hotels totaling 7,804 rooms located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
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