Zacks Investment Research upgraded shares of Hersha Hospitality Trust (NYSE:HT) from a sell rating to a hold rating in a research report released on Friday.

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) “

A number of other analysts have also commented on HT. Wells Fargo & Company lowered their target price on shares of Hersha Hospitality Trust from $18.00 to $17.00 and set a market perform rating for the company in a report on Friday, October 27th. Stifel Nicolaus reaffirmed a hold rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a report on Wednesday, July 19th. FBR & Co lowered their target price on shares of Hersha Hospitality Trust from $23.00 to $21.00 and set an outperform rating for the company in a report on Thursday, July 27th. Robert W. Baird reaffirmed a buy rating and set a $20.00 target price on shares of Hersha Hospitality Trust in a report on Friday, September 8th. Finally, BidaskClub raised shares of Hersha Hospitality Trust from a sell rating to a hold rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $19.60.

Hersha Hospitality Trust (HT) traded down $0.06 during mid-day trading on Friday, reaching $17.65. 396,200 shares of the company traded hands, compared to its average volume of 526,397. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.10. Hersha Hospitality Trust has a 1 year low of $17.15 and a 1 year high of $22.14. The company has a market cap of $734.42, a PE ratio of 8.02, a PEG ratio of 2.15 and a beta of 1.35.

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The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.35%. The ex-dividend date was Thursday, September 28th. Hersha Hospitality Trust’s dividend payout ratio (DPR) is 52.09%.

In related news, COO Neil H. Shah acquired 1,667 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $17.86 per share, with a total value of $29,772.62. Following the transaction, the chief operating officer now owns 297,418 shares of the company’s stock, valued at approximately $5,311,885.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Neil H. Shah acquired 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was bought at an average cost of $17.91 per share, for a total transaction of $26,865.00. Following the completion of the transaction, the insider now directly owns 302,210 shares in the company, valued at approximately $5,412,581.10. The disclosure for this purchase can be found here. Insiders bought a total of 28,494 shares of company stock valued at $502,496 in the last three months. 8.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Hersha Hospitality Trust by 10,630.7% in the 1st quarter. BlackRock Inc. now owns 5,955,224 shares of the real estate investment trust’s stock valued at $111,899,000 after purchasing an additional 5,899,727 shares during the period. Vanguard Group Inc. raised its holdings in shares of Hersha Hospitality Trust by 8.7% in the 1st quarter. Vanguard Group Inc. now owns 7,032,015 shares of the real estate investment trust’s stock valued at $132,132,000 after purchasing an additional 561,377 shares during the period. Brookfield Asset Management Inc. raised its holdings in shares of 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 purchasing an additional 357,835 shares during the period. Morgan Stanley raised its holdings in shares of Hersha Hospitality Trust by 269.6% in the 1st quarter. Morgan Stanley now owns 454,552 shares of the real estate investment trust’s stock valued at $8,543,000 after purchasing an additional 331,554 shares during the period. Finally, Chicago Equity Partners LLC raised its holdings in shares of Hersha Hospitality Trust by 404.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 397,897 shares of the real estate investment trust’s stock valued at $7,365,000 after purchasing an additional 319,022 shares during the period. 98.46% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Hersha Hospitality Trust (NYSE:HT)

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