Real Estate Management Services LLC Purchases 407,200 Shares of Hersha Hospitality Trust (HT)
Real Estate Management Services LLC boosted its position in Hersha Hospitality Trust (NYSE:HT) by 28.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,815,397 shares of the real estate investment trust’s stock after buying an additional 407,200 shares during the period. Hersha Hospitality Trust accounts for 5.4% of Real Estate Management Services LLC’s investment portfolio, making the stock its 5th largest position. Real Estate Management Services LLC owned approximately 4.12% of Hersha Hospitality Trust worth $31,134,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Hersha Hospitality Trust during the fourth quarter worth $9,826,000. Glenmede Trust Co. NA increased its stake in Hersha Hospitality Trust by 312.1% in the first quarter. Glenmede Trust Co. NA now owns 77,220 shares of the real estate investment trust’s stock worth $1,647,000 after buying an additional 58,480 shares during the last quarter. Virginia Retirement System bought a new stake in Hersha Hospitality Trust during the first quarter worth $2,926,000. Teachers Advisors Inc. increased its stake in Hersha Hospitality Trust by 433.0% in the first quarter. Teachers Advisors Inc. now owns 378,385 shares of the real estate investment trust’s stock worth $8,075,000 after buying an additional 307,400 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in Hersha Hospitality Trust during the first quarter worth $642,000.
Shares of Hersha Hospitality Trust (NYSE:HT) traded up 0.28% during mid-day trading on Monday, hitting $18.07. 646,412 shares of the company’s stock traded hands. Hersha Hospitality Trust has a 52 week low of $15.36 and a 52 week high of $25.63. The firm has a 50-day moving average of $18.94 and a 200 day moving average of $19.06. The company has a market cap of $766.66 million, a PE ratio of 7.54 and a beta of 1.52.
Hersha Hospitality Trust (NYSE:HT) last posted its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.03. The business had revenue of $127.70 million for the quarter, compared to analyst estimates of $130.11 million. Hersha Hospitality Trust had a net margin of 24.39% and a return on equity of 15.88%. The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. Equities research analysts predict that Hersha Hospitality Trust will post $2.48 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.12 annualized dividend and a dividend yield of 6.20%. Hersha Hospitality Trust’s dividend payout ratio is 45.16%.
Several brokerages have recently commented on HT. Royal Bank Of Canada reduced their target price on Hersha Hospitality Trust from $23.00 to $21.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 9th. RBC Capital Markets reissued a “sector perform” rating and issued a $21.00 target price (down from $23.00) on shares of Hersha Hospitality Trust in a report on Wednesday, August 10th. Zacks Investment Research raised Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Canaccord Genuity reissued a “hold” rating and issued a $20.00 target price on shares of Hersha Hospitality Trust in a report on Friday, July 29th. Finally, FBR & Co reduced their target price on Hersha Hospitality Trust from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, July 29th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.00.
In related news, Chairman Hasu P. Shah bought 3,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were purchased at an average price of $19.00 per share, for a total transaction of $57,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay H. Shah bought 4,700 shares of the business’s stock in a transaction on Monday, September 12th. The stock was bought at an average price of $18.40 per share, for a total transaction of $86,480.00. Following the transaction, the chief executive officer now directly owns 275,730 shares of the company’s stock, valued at $5,073,432. The disclosure for this purchase can be found here. Corporate insiders own 7.10% of the company’s stock.
Hersha Hospitality Trust Company Profile
Hersha Hospitality Trust is a real estate investment trust. The Company operates through investment in hotel properties segment. It invests in institutional grade hotels in urban gateway markets, including New York, Washington District of Columbia (DC), Boston, Philadelphia, South Florida and select markets on the West Coast.
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