Jennison Associates LLC cut its stake in shares of Hersha Hospitality Trust (NYSE:HT) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,720,177 shares of the real estate investment trust’s stock after selling 11,241 shares during the period. Jennison Associates LLC owned approximately 8.94% of Hersha Hospitality Trust worth $69,456,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pinebridge Investments L.P. grew its holdings in Hersha Hospitality Trust by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,503 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 54 shares during the last quarter. State of Alaska Department of Revenue raised its position in Hersha Hospitality Trust by 76.8% in the second quarter. State of Alaska Department of Revenue now owns 8,186 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 3,556 shares during the period. KCG Holdings Inc. purchased a new position in Hersha Hospitality Trust in the first quarter valued at about $200,000. Stevens Capital Management LP purchased a new position in Hersha Hospitality Trust in the third quarter valued at about $200,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Hersha Hospitality Trust during the second quarter worth about $219,000. 99.86% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on HT shares. FBR & Co reiterated a “buy” rating and issued a $20.00 price target on shares of Hersha Hospitality Trust in a research note on Friday, October 27th. DA Davidson initiated coverage on Hersha Hospitality Trust in a research note on Friday, September 29th. They issued a “buy” rating and a $21.00 target price for the company. Robert W. Baird restated a “buy” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a research note on Friday, September 8th. B. Riley restated a “buy” rating on shares of Hersha Hospitality Trust in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $19.00 price objective on shares of Hersha Hospitality Trust in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $19.60.
In other news, insider Neil H. Shah acquired 1,500 shares of the firm’s stock in a transaction 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 purchase, the insider now owns 302,210 shares of the company’s stock, valued at $5,412,581.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Neil H. Shah purchased 2,850 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were bought at an average cost of $17.54 per share, for a total transaction of $49,989.00. Following the completion of the purchase, the insider now directly owns 316,352 shares of the company’s stock, valued at $5,548,814.08. The disclosure for this purchase can be found here. Insiders purchased 28,494 shares of company stock valued at $502,496 over the last quarter. 8.10% of the stock is currently owned by corporate insiders.
Hersha Hospitality Trust (HT) traded up $0.21 during trading on Wednesday, hitting $17.56. 404,100 shares of the stock traded hands, compared to its average volume of 456,173. The stock has a market cap of $721.93, a PE ratio of 7.89, a P/E/G ratio of 2.11 and a beta of 1.35. Hersha Hospitality Trust has a fifty-two week low of $17.15 and a fifty-two week high of $22.14. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 0.67.
WARNING: “Jennison Associates LLC Has $69.46 Million Holdings in Hersha Hospitality Trust (NYSE:HT)” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://ledgergazette.com/2017/11/22/hersha-hospitality-trust-ht-holdings-lowered-by-jennison-associates-llc.html.
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.
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.