Hersha Hospitality Trust (HT) Holdings Lowered by Jennison Associates LLC

Jennison Associates LLC trimmed its stake in shares of Hersha Hospitality Trust (NYSE:HT) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,720,177 shares of the real estate investment trust’s stock after selling 11,241 shares during the quarter. Jennison Associates LLC owned about 8.94% of Hersha Hospitality Trust worth $69,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Advantus Capital Management Inc raised its position in shares of Hersha Hospitality Trust by 13.9% during the 3rd quarter. Advantus Capital Management Inc now owns 78,499 shares of the real estate investment trust’s stock worth $1,466,000 after buying an additional 9,600 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Hersha Hospitality Trust by 10.6% during the 3rd quarter. Prudential Financial Inc. now owns 583,177 shares of the real estate investment trust’s stock worth $10,888,000 after buying an additional 55,770 shares in the last quarter. Stevens Capital Management LP bought a new stake in shares of Hersha Hospitality Trust during the 3rd quarter worth about $200,000. Chicago Equity Partners LLC raised its position in shares of Hersha Hospitality Trust by 6.3% during the 3rd quarter. Chicago Equity Partners LLC now owns 423,032 shares of the real estate investment trust’s stock worth $7,898,000 after buying an additional 25,135 shares in the last quarter. Finally, Forsta AP Fonden bought a new stake in shares of Hersha Hospitality Trust during the 3rd quarter worth about $950,000. Institutional investors own 98.35% of the company’s stock.

Hersha Hospitality Trust (HT) traded down $0.18 during mid-day trading on Monday, hitting $17.47. 30,332 shares of the stock were exchanged, compared to its average volume of 457,262. Hersha Hospitality Trust has a twelve month low of $17.15 and a twelve month high of $22.14. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $734.42, a price-to-earnings ratio of 8.02, a P/E/G ratio of 2.15 and a beta of 1.35.

A number of analysts recently commented on HT shares. Wells Fargo & Company dropped their target price on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Friday, October 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a report on Wednesday, July 19th. FBR & Co set a $20.00 target price on shares of Hersha Hospitality Trust and gave the stock a “buy” rating in a report on Monday, August 28th. Zacks Investment Research downgraded shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Finally, Robert W. Baird reiterated a “buy” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $19.60.

ILLEGAL ACTIVITY WARNING: “Hersha Hospitality Trust (HT) Holdings Lowered by Jennison Associates LLC” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/11/13/hersha-hospitality-trust-ht-holdings-lowered-by-jennison-associates-llc.html.

In related news, insider Neil H. Shah acquired 1,500 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average cost of $17.91 per share, with a total value of $26,865.00. Following the completion of the transaction, the insider now owns 302,210 shares of the company’s stock, valued at approximately $5,412,581.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Neil H. Shah acquired 1,667 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average cost of $17.86 per share, for a total transaction of $29,772.62. Following the completion of the transaction, the chief operating officer now directly owns 297,418 shares of the company’s stock, valued at approximately $5,311,885.48. The disclosure for this purchase can be found here. Insiders have bought 28,494 shares of company stock worth $502,496 in the last 90 days. 8.10% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding HT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hersha Hospitality Trust (NYSE:HT).

Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

Receive News & Ratings for Hersha Hospitality Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hersha Hospitality Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply