Clearbridge Investments LLC reduced its holdings in shares of Hersha Hospitality Trust (NYSE:HT) by 35.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 23,480 shares of the real estate investment trust’s stock after selling 13,000 shares during the period. Clearbridge Investments LLC’s holdings in Hersha Hospitality Trust were worth $409,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in shares of Hersha Hospitality Trust by 241.9% during the 4th quarter. Bank of Montreal Can now owns 217,607 shares of the real estate investment trust’s stock valued at $3,786,000 after buying an additional 153,963 shares during the last quarter. Dalton Greiner Hartman Maher & Co. boosted its stake in shares of Hersha Hospitality Trust by 3.5% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 1,016,428 shares of the real estate investment trust’s stock valued at $17,686,000 after buying an additional 34,203 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Hersha Hospitality Trust by 10.6% during the 3rd quarter. Prudential Financial Inc. now owns 583,177 shares of the real estate investment trust’s stock valued at $10,888,000 after buying an additional 55,770 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Hersha Hospitality Trust by 6.6% during the 3rd quarter. Legal & General Group Plc now owns 172,536 shares of the real estate investment trust’s stock valued at $3,222,000 after buying an additional 10,744 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of Hersha Hospitality Trust during the 3rd quarter valued at approximately $592,000. Institutional investors own 97.89% of the company’s stock.

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Hersha Hospitality Trust (NYSE:HT) opened at $17.92 on Tuesday. Hersha Hospitality Trust has a one year low of $16.60 and a one year high of $19.87. The stock has a market capitalization of $712.85, a price-to-earnings ratio of 8.29, a P/E/G ratio of 1.33 and a beta of 1.39. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.31 and a current ratio of 0.31.

Hersha Hospitality Trust (NYSE:HT) last announced its quarterly earnings data on Wednesday, February 21st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.09. Hersha Hospitality Trust had a return on equity of 9.47% and a net margin of 17.46%. The firm had revenue of $122.62 million for the quarter, compared to analysts’ expectations of $115.68 million. During the same period last year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. analysts predict that Hersha Hospitality Trust will post 1.78 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Wednesday, March 28th. Hersha Hospitality Trust’s dividend payout ratio (DPR) is presently 63.64%.

Hersha Hospitality Trust announced that its board has initiated a share repurchase plan on Wednesday, January 3rd that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

HT has been the subject of several research analyst reports. ValuEngine upgraded Hersha Hospitality Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Robert W. Baird set a $18.00 target price on Hersha Hospitality Trust and gave the company a “buy” rating in a research note on Tuesday, February 27th. B. Riley set a $20.00 target price on Hersha Hospitality Trust and gave the company a “buy” rating in a research note on Wednesday, February 21st. Zacks Investment Research upgraded Hersha Hospitality Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $18.00 price objective (down from $18.50) on shares of Hersha Hospitality Trust in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.89.

In other Hersha Hospitality Trust news, Chairman Hasu P. Shah sold 14,500 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $17.48, for a total value of $253,460.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jay H. Shah bought 2,975 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was bought at an average price of $16.75 per share, for a total transaction of $49,831.25. Following the completion of the purchase, the chief executive officer now directly owns 320,752 shares of the company’s stock, valued at approximately $5,372,596. The disclosure for this purchase can be found here. Company insiders own 8.10% of the company’s stock.

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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 December 31, 2017, the Company’s hotels included 50 hotels totaling 7,725 rooms located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

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Institutional Ownership by Quarter for Hersha Hospitality Trust (NYSE:HT)

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