Nationwide Fund Advisors Cuts Holdings in Hersha Hospitality Trust (HT)
Nationwide Fund Advisors decreased its position in Hersha Hospitality Trust (NYSE:HT) by 0.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 221,900 shares of the real estate investment trust’s stock after selling 2,037 shares during the period. Nationwide Fund Advisors owned about 0.53% of Hersha Hospitality Trust worth $4,107,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue lifted its stake in 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 valued at $151,000 after acquiring an additional 3,556 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Hersha Hospitality Trust in the 1st quarter valued at approximately $179,000. Mason Street Advisors LLC bought a new stake in Hersha Hospitality Trust in the 1st quarter valued at approximately $184,000. KCG Holdings Inc. bought a new stake in Hersha Hospitality Trust in the 1st quarter valued at approximately $200,000. Finally, Teachers Retirement System of The State of Kentucky bought a new stake in Hersha Hospitality Trust in the 1st quarter valued at approximately $276,000. Hedge funds and other institutional investors own 98.38% of the company’s stock.
Shares of Hersha Hospitality Trust (NYSE:HT) opened at 18.75 on Friday. The stock’s 50 day moving average price is $18.38 and its 200-day moving average price is $18.59. The company has a market cap of $784.39 million, a PE ratio of 8.22 and a beta of 1.39. Hersha Hospitality Trust has a 52 week low of $16.80 and a 52 week high of $22.14.
Hersha Hospitality Trust (NYSE:HT) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.02). Hersha Hospitality Trust had a net margin of 22.77% and a return on equity of 14.78%. The company had revenue of $138.00 million during the quarter, compared to the consensus estimate of $134.55 million. During the same quarter in the prior year, the business earned $0.89 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts expect that Hersha Hospitality Trust will post $2.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.97%. Hersha Hospitality Trust’s dividend payout ratio is presently 48.70%.
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Several equities research analysts have commented on the company. DA Davidson assumed coverage on Hersha Hospitality Trust in a research note on Friday, September 29th. They issued a “buy” rating and a $21.00 target price on the stock. 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. Stifel Nicolaus restated a “hold” rating and issued a $19.00 target price on shares of Hersha Hospitality Trust in a research note on Thursday, September 7th. FBR & Co set a $20.00 target price on Hersha Hospitality Trust and gave the company a “buy” rating in a research note on Monday, August 28th. Finally, BidaskClub upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.89.
In related news, COO Neil H. Shah bought 1,400 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were bought at an average price of $18.00 per share, for a total transaction of $25,200.00. Following the completion of the acquisition, the chief operating officer now directly owns 296,308 shares of the company’s stock, valued at $5,333,544. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Neil H. Shah bought 4,165 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was bought at an average price of $17.93 per share, for a total transaction of $74,678.45. Following the acquisition, the insider now directly owns 297,418 shares of the company’s stock, valued at $5,332,704.74. The disclosure for this purchase can be found here. Insiders bought 10,079 shares of company stock worth $180,706 in the last 90 days. Corporate insiders own 8.10% of the company’s stock.
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.
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