Dalton Greiner Hartman Maher & Co. lifted its position in Hersha Hospitality Trust (NYSE:HT) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,016,428 shares of the real estate investment trust’s stock after buying an additional 34,203 shares during the quarter. Dalton Greiner Hartman Maher & Co. owned about 2.44% of Hersha Hospitality Trust worth $17,686,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Brookfield Asset Management Inc. increased its holdings in Hersha Hospitality Trust by 11.9% in the 2nd quarter. Brookfield Asset Management Inc. now owns 3,371,560 shares of the real estate investment trust’s stock valued at $62,408,000 after buying an additional 357,835 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in Hersha Hospitality Trust in the 2nd quarter valued at $3,720,000. State Street Corp boosted its stake in shares of Hersha Hospitality Trust by 9.8% in the 2nd quarter. State Street Corp now owns 1,820,283 shares of the real estate investment trust’s stock valued at $33,697,000 after purchasing an additional 162,545 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new stake in shares of Hersha Hospitality Trust in the 3rd quarter valued at $2,793,000. Finally, Citadel Advisors LLC boosted its stake in shares of Hersha Hospitality Trust by 184.4% in the 2nd quarter. Citadel Advisors LLC now owns 226,225 shares of the real estate investment trust’s stock valued at $4,187,000 after purchasing an additional 146,684 shares in the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.
In related news, COO Neil H. Shah acquired 2,823 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was bought at an average price of $17.71 per share, with a total value of $49,995.33. Following the acquisition, the chief operating officer now owns 305,033 shares in the company, valued at approximately $5,402,134.43. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Neil H. Shah purchased 2,850 shares of the business’s stock in a transaction on Monday, November 6th. The shares were acquired at an average cost of $17.54 per share, with a total value of $49,989.00. Following the acquisition, the insider now directly owns 316,352 shares in the company, valued at $5,548,814.08. The disclosure for this purchase can be found here. Insiders have bought a total of 19,815 shares of company stock valued at $346,990 over the last ninety days. Company insiders own 8.10% of the company’s stock.
Several equities research analysts have recently commented on the stock. Wells Fargo & Co reduced 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 research note on Friday, October 27th. Zacks Investment Research downgraded shares of Hersha Hospitality Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Robert W. Baird reiterated a “buy” rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a research report on Thursday, October 12th. FBR & Co reiterated a “buy” rating and set a $20.00 price target on shares of Hersha Hospitality Trust in a research report on Friday, October 27th. Finally, ValuEngine upgraded shares of Hersha Hospitality Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.40.
Shares of Hersha Hospitality Trust (HT) opened at $18.28 on Thursday. Hersha Hospitality Trust has a 52 week low of $17.15 and a 52 week high of $21.67. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $748.56, a P/E ratio of 8.50, a P/E/G ratio of 2.08 and a beta of 1.35.
Hersha Hospitality Trust (NYSE:HT) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.71). Hersha Hospitality Trust had a return on equity of 13.52% and a net margin of 21.06%. analysts anticipate that Hersha Hospitality Trust will post 1.94 earnings per share for the current year.
Hersha Hospitality Trust announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 3rd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, January 5th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.12 annualized dividend and a dividend yield of 6.13%. Hersha Hospitality Trust’s dividend payout ratio is currently 52.09%.
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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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