Zacks Investment Research Lowers Hersha Hospitality Trust (NYSE:HT) to Sell

Zacks Investment Research downgraded shares of Hersha Hospitality Trust (NYSE:HT) from a hold rating to a sell rating in a research report sent to investors on Wednesday, November 1st.

According to Zacks, “Hersha Hospitality Trust is an entrepreneurial, high-growth real estate development and management company focussed on the hospitality industry. Hersha currently owns, operates, and develops a portfolio of hotels and assisted living facilities in the mid-Atlantic region of the United States. (PRESS RELEASE) “

Several other analysts also recently issued reports on the company. Wells Fargo & Company cut their price target on 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 reissued a hold rating and issued a $20.00 price target on shares of Hersha Hospitality Trust in a report on Wednesday, July 19th. FBR & Co cut their price target on Hersha Hospitality Trust from $23.00 to $21.00 and set an outperform rating on the stock in a report on Thursday, July 27th. BidaskClub downgraded Hersha Hospitality Trust from a hold rating to a sell rating in a report on Wednesday, July 12th. Finally, Robert W. Baird reissued a buy rating and issued a $20.00 price target on shares of Hersha Hospitality Trust in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $19.60.

Shares of Hersha Hospitality Trust (NYSE:HT) opened at $17.65 on Wednesday. The stock has a market capitalization of $734.42, a P/E ratio of 8.02, a P/E/G ratio of 2.15 and a beta of 1.35. Hersha Hospitality Trust has a 1-year low of $17.15 and a 1-year 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.

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In other news, insider Neil H. Shah acquired 7,044 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were bought at an average price of $17.44 per share, with a total value of $122,847.36. Following the purchase, the insider now owns 310,692 shares of the company’s stock, valued at $5,418,468.48. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Neil H. Shah acquired 2,850 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was purchased at an average cost of $17.54 per share, for a total transaction of $49,989.00. Following the purchase, the insider now directly owns 316,352 shares in the company, valued at approximately $5,548,814.08. The disclosure for this purchase can be found here. Insiders bought a total of 28,494 shares of company stock worth $502,496 in the last three months. Company insiders own 8.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Pinebridge Investments L.P. grew its holdings in shares of Hersha Hospitality Trust by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 54 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Hersha Hospitality Trust in the 3rd quarter worth $135,000. State of Alaska Department of Revenue grew its holdings in shares of Hersha Hospitality Trust by 76.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,186 shares of the real estate investment trust’s stock worth $151,000 after acquiring an additional 3,556 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Hersha Hospitality Trust in the 1st quarter worth $179,000. Finally, KCG Holdings Inc. acquired a new position in shares of Hersha Hospitality Trust in the 1st quarter worth $200,000. 98.35% of the stock is currently owned by institutional investors.

About Hersha Hospitality Trust

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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